Tidewater Inc. (NYSE:TDW) Q3 2023 Earnings Call Transcript

Greg Lewis: Okay. Great. And then just one final one for me. As we think about the fleet, the contracted fleet, I guess, we are in the middle of Q4. Are there any kind of pressure points in terms of the seasonality of the market where we should expect an outsized number of contract resets in any specific quarter as we look out over the next 12 months?

Quintin Kneen: Well, generally Q1, we see most of the resetting occur, because there’s still a lot of companies that contract on a calendar year basis. So you might see more in Q1 as we go through it, but let me hand it over to Piers. Piers can you — have you seen any changes in the seasonality patterns over time?

Piers Middleton: No. Not that we haven’t seen in the past. When you get the North Sea obviously comes through into the summer season. So there’s always a Q1 play and a little bit, as I said earlier, we have a fleet in the Asia-Pacific where we picked up quite a lot of work in Taiwan. That’s certainly as sort of Q2, Q — Q1, Q2 started story as well. But no, it is not particularly seasonality, it’s more of a Q1 is where we will see a lot of the contracts coming 2023 through for next year.

Greg Lewis: Perfect. Thank you very much.

Quintin Kneen: Thanks, Greg.

Piers Middleton: Thanks, Greg.

Operator: Thank you. At this time there are no further questions. I will now turn the call back over to Quintin Kneen for closing remarks. Please go ahead.

Quintin Kneen: Okay. Thank you, Eric, and thank you everyone for listening. We look forward to updating you again in March. Good-bye.

Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining and you may now disconnect your lines.