TDW — what changed in the latest 10-Q
A section-by-section comparison of TDW's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-03 vs the prior 10-Q · 2026-05-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +46 | −19 | ~33 | 21 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 0 |
| Other information | Text added/removed | +1 | −1 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-03
The impact of the conflict in Iran has been borne primarily by our Middle East segment. The conflict has limited some customers' ability to operate at full capacity in the segment, creating some softness in market demand. However, while our activity has not been significantly interrupted to date as …
Increase primarily due to higher utilization and higher average day rates.
Increase primarily due to higher crew costs, higher repair and maintenance costs and higher fuel and lube costs. Crew costs increased in the Asia Pacific segment due to additional vessels working in Australia which is a high-cost operating area; and in the Middle East segment due to increased war pr…
Increase primarily due to higher transaction expenses associated with the pending Wilson Companies acquisition.
During the second quarter of 2026, we sold two vessels and other assets for approximately $11.5 million in proceeds and recognized a net gain of $3.3 million on the dispositions. During the first quarter of 2026, we sold two vessels and other assets for approximately $3.3 million in proceeds and rec…
Text removed vs the prior filing · source: 10-Q · 2026-05-04
The impact of the conflict in Iran has been borne primarily by our Middle East segment. To date, there have been no contract cancellations, but we incurred increased insurance rates, higher crew wages and travel costs and higher fuel costs for vessels operating near the conflict. Specifically, in Ma…
Decrease primarily due to lower utilization and a lower vessel count, partially offset by higher day rates.
Decrease primarily due to significantly lower repair and maintenance costs, lower crew and other costs. Crew costs decreased in the Americas and West Africa as a result of lower vessel counts partially offset by an incremental $1.3 million in war premium bonuses and crew travel costs in the Middle E…
Decrease primarily due to higher professional fees in the fourth quarter of 2025 associated with the pending Wilson acquisition and the strategic internal restructuring of our vessel ownership (Vessel Realignment).
Increase primarily due to higher capitalized software expenditure.
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-03
During the three months ended June 30, 2026, none of our officers or directors adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) and (c), respectively, of Regulation S-K, for the purchase or sale of our securi…
Text removed vs the prior filing · source: 10-Q · 2026-05-04
On March 17, 2026, Daniel A. Hudson, Executive Vice President, Chief Legal Officer and Corporate Secretary, adopted a Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), to sell up to 25,000 shares, which shall expire on the earlier of when all s…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice