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[SITUATION] · [QUIET] · [BUSINESS]
2 clusters · 2 sources · 11 days · First seen · Last updated
Tidewater Midstream and Renewables financial performance
Overview
Tidewater Midstream and Infrastructure and Tidewater Renewables reported record second-quarter adjusted EBITDA. This performance led the company to raise its 2026 consolidated adjusted EBITDA outlook to a range between C$230 million and C$250 million.
Tidewater Renewables achieved a record adjusted EBITDA of C$56 million, supported by the HDRD renewable diesel complex operating at 111% utilization and strong pricing under offtake contracts. The company expects to receive C$13.8 million in cash contributions for the first and second quarters during the third quarter of 2026.
Tidewater Midstream reported a consolidated adjusted EBITDA of C$88.9 million, an increase of C$39.2 million from the previous quarter. This growth was attributed to higher facility utilization, stronger crack spreads at the Prince George Refinery, and favorable market conditions for refining and renewable diesel. Additionally, the company is advancing a sustainable aviation fuel project, with a final investment decision anticipated in the fourth quarter.
Entities
Tidewater Midstream and Infrastructure · Natural Resources Canada · Tidewater Inc. · Wilson Sons Ultratug Offshore · Quintin Kneen
Timeline
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29 days ago
[BUSINESS] 2 sourcesTidewater Midstream raises 2026 guidance after record Q2 EBITDATidewater Midstream and Infrastructure raised its 2026 EBITDA guidance following record second-quarter results driven by strong renewable diesel margins and high facility utilization.
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about 1 month ago
[BUSINESS] 3 sourcesTidewater Inc. posts Q2 2026 revenue rise and lifts 2026 outlookTidewater Inc. posted Q2 2026 revenue of $342.3 M (up 4.9 %), net income $21.7 M, raised full‑year revenue guidance to $1.42‑$1.47 B, and delayed its Wilson Sons Ultratug Offshore acquisition to early September
Sources
mommygearest.com · stocknews.com