Item 2.02. Results of Operations and Financial Condition.
In accordance with the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, Tidewater Inc. (the "Company") notes that certain
statements set forth in this Current Report on Form 8-K provide contain certain
forward-looking statements which reflect our current view with respect to future
events and future financial performance. Forward-looking statements are all
statements other than statements of historical fact. All such forward-looking
statements are subject to risks and uncertainties, many of which are beyond the
control of the Company, and our future results of operations could differ
materially from our historical results or current expectations reflected by such
forward-looking statements. These risks and uncertainties include, without
limitation: the risks related to fluctuations in worldwide energy demand and oil
and natural gas prices, and continuing depressed levels of oil and natural gas
prices without a clear indication of if, or when, prices will recover to a level
to support renewed offshore exploration activities; fleet additions by
competitors and industry overcapacity; our limited capital resources available
to replenish our asset base as needed, including through acquisitions or vessel
construction, and to fund our capital expenditure needs; uncertainty of global
financial market conditions and potential constraints in accessing capital or
credit if and when needed with favorable terms, if at all; changes in decisions
and capital spending by customers in the energy industry and the industry
expectations for offshore exploration, field development and production;
consolidation of our customer base; loss of a major customer; changing customer
demands for vessel specifications, which may make some of our older vessels
technologically obsolete for certain customer projects or in certain markets;
rapid technological changes; delays and other problems associated with vessel
maintenance; the continued availability of qualified personnel and our ability
to attract and retain them; the operating risks normally incident to our lines
of business, including the potential impact of liquidated counterparties; our
ability to comply with covenants in our indentures and other debt instruments;
acts of terrorism and piracy; the impact of regional or global public health
crises or pandemics; the impact of potential information technology,
cybersecurity or data security breaches; integration of acquired businesses and
entry into new lines of business; disagreements with our joint venture partners;
natural disasters or significant weather conditions; unsettled political
conditions, war, civil unrest and governmental actions, such as expropriation or
enforcement of customs or other laws that are not well developed or consistently
enforced; the risks associated with our international operations, including
local content, local currency or similar requirements especially in higher
political risk countries where we operate; interest rate and foreign currency
fluctuations; labor changes proposed by international conventions; increased
regulatory burdens and oversight; changes in laws governing the taxation of
foreign source income; retention of skilled workers; enforcement of laws related
to the environment, labor and foreign corrupt practices; the potential liability
for remedial actions or assessments under existing or future environmental
regulations or litigation; the effects of asserted and unasserted claims and the
extent of available insurance coverage; and the resolution of pending legal
proceedings.
On July 30, 2020, the Company issued an earnings release announcing its
financial results for the quarter ended June 30, 2020. The press release is
furnished as Exhibit 99.1 to this Current Report and is incorporated herein by
reference as if fully set forth under this item.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1,
shall not be deemed to be "filed" for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended ("Exchange Act") or otherwise
subject to the liabilities of that section, and shall not be deemed to be
incorporated by reference into any filing made by us under the Exchange
Act or Securities Act of 1933, as amended, regardless of any general
incorporation language in any such filing, except as shall be expressly set
forth by specific reference in such filing.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is furnished with this Form 8-K:
Exhibit
Number Description
99.1 Press Release dated July 30, 2020
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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