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Logo NEWS RELEASE Tidewater Reports Results for the Three and Six Months Ended June 30 , 2021 8/9/2021 HOUSTON -- ( BUSINESS WIRE ) -- Tidewater Inc. ( NYSE : TDW ) announced today revenue for the three and six months ended June 30 , 2021 of $ 90.0 million and $ 173.5 million , respectively , compared with $ 102.3 million and $ 218.7 million , respectively , for the three and six months ended June 30 , 2020. Tidewater's net losses for the three and six months ended June 30 , 2021 , were $ 29.5 million ( $ 0.72 per common share ) and $ 64.8 million ( $ 1.59 per common share ) , respectively , compared with $ 110.6 million ( $ 2.74 per common share ) and $ 129.1 million ( $ 3.21 per common share ) for the three and six months ended June 30 , 2020. Included in the net losses for the three and six months ended June 30 , 2021 were severance expenses of $ 0.8 and $ 0.9 million , respectively ; and a credit loss impairment credit of $ 1.0 million for both periods . Excluding these items , we would have reported a net loss for the three and six months ended June 30 , 2021 of $ 29.7 million ( $ 0.73 per common share ) and $ 64.9 million ( $ 1.59 per common share ) , respectively . Included in the net losses for the three and six months ended June 30 , 2020 were $ 111.5 million and $ 121.8 million , respectively , in long - lived asset impairments , affiliate credit losses , affiliate guarantee obligations , and one - time severance expenses . Excluding these costs , we would have reported net income for the three months ended June 30 , 2020 of $ 0.9 million ( $ 0.02 per common share ) and a net loss for the six months ended June 30 , 2020 of $ 7.3 million ( or $ 0.18 per common share ) . Quintin Kneen , Tidewater's President and Chief Executive Officer , commented , " Revenue , active vessels , average day rate , active utilization , and operating margin were all up on a consolidated basis in the second quarter . Individual geographic segments were mixed , but the overall trend and our outlook are constructive as we proceed through the remainder of the year . We continued our track record of generating meaningful free cash flow during the second quarter of 2021. During the second quarter , we generated $ 26.0 million of free cash flow , and over the trailing 12 months we have generated $ 84.0 million . The scalable shore base infrastructure we built over the past few years is helping us drive reliable and increasing free cash flow generation , as demonstrated by the substantial incremental operating income margins in the quarter . 1