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You can just feel it with Queen. You feel like you are watching something special. Never felt that way about any hornets/pelicans player before
You feel like you are watching something special until he runs back to the other side of the court to play defense. AD ate his lunch all game against Dallas, putting up 35 points in 35 minutes with Queen doing most of the defending.
And really? You never felt that you were watching something special with Chris Paul, Anthony Davis, or Zion Williamson? Just Derik Queen?
I agree that Queen is uniquely talented, and I want him to be great, but the hype around him is way overblown IMO.
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re: Tidewater (NYSE: TDW) - Offshore Support Vessels
Posted by VMO7 on 12/25/25 at 7:47 pm to LSUnation78
Agreed on the significance of contract duration.
Regarding adding boats to the fleet - they added 50 vessels in 2022 via the acquisition of Swire Pacific Offshore which was well received by the market (stock jumped 10% when it was announced).
More broadly, the market has changed dramatically from 6 years ago. For example, shipyard capacities are way down over last decade as there has been a prolonged period of excess supply of offshore equipment, coupled with declining demand for offshore oil, with shale supply meeting increased oil demand.
As offshore becomes more important into the future, Tidewater is one of the best positioned with a strong existing fleet (and balance sheet) that provides some margin of safety given limited shipyard capacity.
Curious to hear your perspective if you were to do another deep dive on them now.
Regarding adding boats to the fleet - they added 50 vessels in 2022 via the acquisition of Swire Pacific Offshore which was well received by the market (stock jumped 10% when it was announced).
More broadly, the market has changed dramatically from 6 years ago. For example, shipyard capacities are way down over last decade as there has been a prolonged period of excess supply of offshore equipment, coupled with declining demand for offshore oil, with shale supply meeting increased oil demand.
As offshore becomes more important into the future, Tidewater is one of the best positioned with a strong existing fleet (and balance sheet) that provides some margin of safety given limited shipyard capacity.
Curious to hear your perspective if you were to do another deep dive on them now.
Tidewater (NYSE: TDW) - Offshore Support Vessels
Posted by VMO7 on 12/22/25 at 8:58 pm
Thoughts from the Money Board on Tidewater stock?
Some Background: Former New Orleans-based offshore support vessel owner and operator that relocated to Houston in 2018. Filed for Chapter 11 in 2017 largely due to a significant debt load and the prolonged downturn in the offshore space from 2014 - 2016. Since then, emerged from Chapter 11 with a substantially deleveraged Balance Sheet and, with some recovery in the offshore space, have been performing well and generating significant cash flow.
Some quick observations:
Pros:
Largest offshore support vessel operator in the world
Revenue up 3.6x since 2021
Highly profitable with ~50% gross margin and very strong EBITDA margins
Strong FCF generation, ~$382M TTM
Strong Balance Sheet with $428M in cash and $650M in long-term debt due 2030
Untapped $250M revolving credit facility
Share repurchase program authorization of $500 million
Optionality to return cash to shareholders or explore M&A opportunities (speculation online around Harvey Gulf & Hornbeck Offshore, among others)
Cons:
Revenue ~flat from 2024 to 2025
Performance tends to be correlated with price of oil
Stock can be volatile (~1.44 beta)
Some Background: Former New Orleans-based offshore support vessel owner and operator that relocated to Houston in 2018. Filed for Chapter 11 in 2017 largely due to a significant debt load and the prolonged downturn in the offshore space from 2014 - 2016. Since then, emerged from Chapter 11 with a substantially deleveraged Balance Sheet and, with some recovery in the offshore space, have been performing well and generating significant cash flow.
Some quick observations:
Pros:
Largest offshore support vessel operator in the world
Revenue up 3.6x since 2021
Highly profitable with ~50% gross margin and very strong EBITDA margins
Strong FCF generation, ~$382M TTM
Strong Balance Sheet with $428M in cash and $650M in long-term debt due 2030
Untapped $250M revolving credit facility
Share repurchase program authorization of $500 million
Optionality to return cash to shareholders or explore M&A opportunities (speculation online around Harvey Gulf & Hornbeck Offshore, among others)
Cons:
Revenue ~flat from 2024 to 2025
Performance tends to be correlated with price of oil
Stock can be volatile (~1.44 beta)
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2 LSU-UF Lower Bowl Tickets for Sale
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