Business
TIDEWATER RENEWABLES LTD. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2024 RESULTS, AND REFINANCING OF CREDIT FACILITIES
Tidewater Renewables Ltd. ("Tidewater Renewables" or the "Corporation") (TSX: LCFS) is pleased to announce financial and operating results for the fourth quarter and year ended December 31, 2024.
About this update from Tidewater Renewables Ltd.
[{"type":"text","content":"CALGARY, AB, March 27, 2025 /CNW/ - Tidewater Renewables Ltd. ("Tidewater Renewables" or the "Corporation") (TSX: LCFS) is pleased to announce financial and operating results for the fourth quarter and year ended December 31, 2024.","length":256,"tagName":"p"},{"type":"image","alt":"Tidewater Renewables Ltd. Logo (CNW Group/Tidewater Renewables Ltd.)","displaySize":"","headline":null,"caption":"Tidewater Renewables Ltd. Logo (CNW Group/Tidewater Renewables Ltd.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":363,"height":138,"url":"https://media.zenfs.com/en/cnwgroup.com/3fe954d99f6ab1f41f451d5ae0bb289a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/Mw.u2DfYwDfNdNwoTFJwbg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI2ODtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/3fe954d99f6ab1f41f451d5ae0bb289a","width":363,"height":138}},"href":"https://mma.prnewswire.com/media/2651531/Tidewater_Renewables_Ltd__TIDEWATER_RENEWABLES_LTD__ANNOUNCES_FO.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The related audited consolidated financial statements, as well as Management's Discussion and Analysis ("MD&A") for the fourth quarter and year ended December 31, 2024 and Annual Information Form as of December 31, 2024, are available on SEDAR+ at www.sedarplus.ca and on Tidewater Renewables website at www.tidewater-renewables.com.","length":361,"tagName":"p"},{"type":"text","content":"Q4 2024 Results","length":15,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"During the fourth quarter of 2024, the Corporation reported a net loss attributable to shareholders of $3.4 million, compared to a net loss attributable to shareholders of $12.7 million during the fourth quarter of 2023. The decrease in the net loss attributable to shareholders in the fourth quarter of 2024 was primarily due to an unrealized gain on derivative contracts and income from the Corporation's joint venture investment in the Rimrock Cattle Company. This was partially offset by lower deferred tax recoveries and higher financing costs.","length":558,"tagName":"p"}]},{"val":[{"type":"text","content":"Tidewater Renewables generated Adjusted EBITDA(1)[1]of $6.0 million during the fourth quarter of 2024, a decrease of 44% from the fourth quarter of ...