Welcome to our dedicated page for Bridger Aerospace Group Holdings news (Ticker: BAER), a resource for investors and traders seeking the latest updates and insights on Bridger Aerospace Group Holdings stock.
Bridger Aerospace Group Holdings, Inc. (BAER) specializes in aerial firefighting and wildfire management services for government agencies. This page provides investors and stakeholders with timely updates on the company’s operational milestones, financial performance, and strategic initiatives.
Key resources include press releases on new contracts, quarterly earnings reports, and advancements in firefighting technology. Users will find updates on BAER’s fire suppression aircraft deployments, surveillance partnerships, and sustainability efforts.
This centralized hub eliminates the need to track multiple sources, offering verified information directly from corporate communications. Regular updates ensure awareness of BAER’s role in addressing wildfire emergencies and evolving industry standards.
Bookmark this page to stay informed on critical developments affecting BAER’s market position and service capabilities. Check back frequently for real-time updates during peak wildfire seasons and fiscal reporting periods.
Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER, BAERW), a leading aerial firefighting company, has announced its schedule for the second quarter 2024 earnings release and conference call. The financial results will be released on August 12, 2024, after market close, followed by an investor conference call at 5:00 p.m. Eastern Time. The call can be accessed via phone or webcast on the company's Investor Relations website.
Additionally, Bridger Aerospace management will participate in two upcoming investor conferences: the Canaccord Genuity Annual Growth Conference on August 14th in Boston and the Gabelli Funds Annual Aerospace & Defense Symposium on September 5th in New York. Webcasts of these events will be available on the company's website.
Bridger Aerospace Group Holdings has acquired FMS Aerospace for $17.51 million in equity, with a contingent equity earn-out of up to $3.09 million. FMS, based in Alabama, specializes in airframe modification and integration for government and commercial customers. The acquisition aims to bolster Bridger's in-house engineering capabilities and diversify its customer base.
The total transaction is valued at $20.6 million, with restricted common stock vesting over two years. FMS reported $10.3 million in revenue and $2.5 million in net income for 2023. The deal is expected to be accretive to Bridger's earnings, but no guidance updates have been provided.
Bridger Aerospace, a leading aerial firefighting company, has appointed Dan Drohan to its Board of Directors. The Board now consists of nine members. Drohan, with over 35 years of aviation experience, has founded and led successful aviation firms, including Sunset Aviation and Solairus Aviation. His extensive industry knowledge is expected to bring valuable insights to Bridger Aerospace's mission and growth.
Over the last year, Bridger has also added notable members such as Beth Fascitelli, David Schellenberg, and Anne Hayes to its Board, further strengthening its leadership team. Drohan's addition aims to leverage his expertise in aviation and business growth to benefit the company's stakeholders.
Bridger Aerospace, a leader in aerial firefighting, announces significant leadership changes. CEO and Director Timothy P. Sheehy resigns to run for the U.S. Senate, with Sam Davis appointed as interim CEO and Jeffrey Kelter as Executive Chairman. Sheehy praises the leadership team and the Board's preparation for his departure. Davis, with a strong background in finance and management, aims to lead the company through its peak wildfire season. The Board will search for a permanent CEO, led by Wyman Howard.
Bridger Aerospace, a leading aerial firefighting company, announced it will join the Russell 3000®, Russell 2000®, and Russell Microcap® Indexes following the 2024 Russell US Indexes annual reconstitution. The changes will take effect on July 1st, 2024. Bridger Aerospace's inclusion is attributed to its strong market capitalization, growth, and financial performance. This move reflects the Company's successful 2023 and anticipated growth in 2024. Russell indexes are essential benchmarks for approximately $10.5 trillion in assets and are utilized by numerous investment managers and institutional investors.
Bridger Aerospace, a major aerial firefighting company, has addressed recent politically motivated criticisms appearing in the media. These criticisms have focused on the company's 2023 net loss, which Bridger attributes mainly to non-cash, stock-based compensation and significant one-time costs related to becoming a public company. Despite the negative media portrayal, Bridger emphasized its seasonal business model and strong performance during peak wildfire seasons. Bridger reported its highest revenue of $67 million in 2023 and expects a positive Adjusted EBITDA of $35 million to $51 million in 2024. The company also highlighted its contributions to the Montana economy and community, and its plans to continue its growth trajectory.
Bridger Aerospace reported its Q1 2024 results, highlighting a record first quarter revenue of $5.5 million, significantly up from $365,000 in Q1 2023. This increase was driven by the earliest seasonal deployment of its Super Scooper and surveillance aircraft, aiding firefighting efforts in Texas and Oklahoma. The company completed a $9.8 million equity financing in April 2024. Adjusted EBITDA improved by 35% to negative $6.9 million from negative $10.7 million in Q1 2023. The company aims to grow 2024 Adjusted EBITDA by over 80% to between $35 million and $51 million, on projected revenues of $70 million to $86 million. Cost of revenues rose by 27% due to higher flight operations and maintenance expenses. SG&A expenses dropped to $11.6 million from $33.2 million, thanks to lower non-cash stock-based compensation. Net loss reduced to $20.1 million from $44.7 million. Bridger expects positive EBITDA in Q2 and Q3 2024.
Bridger Aerospace Group Holdings, Inc., a leading aerial firefighting company, will release its financial results for the first quarter ended March 31, 2024, on May 13, 2024. The investor conference call will take place the same day at 5:00 p.m. ET to discuss the results and business outlook. Interested parties can access the call via phone or website.