Tidewater Renewables Reports Q4 Losses Amid Strategic Gains

Tidewater Renewables Ltd. reported a net loss of $3.4 million for Q4 2024, significantly improved from the previous year's loss, largely due to unrealized gains on derivative contracts and joint venture income. However, the company faced a 44% decline in adjusted EBITDA, attributed to asset sales and contract cancellations, while revenue nearly doubled to $76.4 million. Despite achieving operational efficiency at its HDRD complex, competitive disadvantages due to U.S. subsidies and ongoing uncertainty regarding a trade remedy complaint with Canada Border Services may affect future profitability. The strategic sale of BC Low Carbon Fuel Standard credits helped manage debt but highlighted the challenges of navigating a volatile market. Investor sentiment remained cautious, as reflected in a slight drop in share price. The company also announced amendments to its credit facilities, which aim to enhance liquidity and provide financial stability moving forward.