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Bristow Group Inc. - VTOL STOCK NEWS

Welcome to our dedicated page for Bristow Group news (Ticker: VTOL), a resource for investors and traders seeking the latest updates and insights on Bristow Group stock.

Bristow Group Inc. (NYSE: VTOL) is headquartered in Houston, Texas and stands as the leading global provider of helicopter services to the offshore energy industry based on aircraft numbers. Bristow's comprehensive services include scheduled and charter transportation via both rotary and fixed-wing aircraft. Operating in regions such as Africa, the Americas, Europe Caspian, and Asia Pacific, Bristow extends its reach to multiple continents, ensuring safe and efficient transport solutions.

Bristow also specializes in Search and Rescue (SAR) operations, a heritage service in the UK since 1971. The company utilizes advanced helicopters equipped with state-of-the-art SAR technology, including night vision, mission management, and enhanced onboard medical capabilities. Bristow also provides public sector SAR services in the UK under contract with the Maritime & Coastguard Agency (MCA).

The company's strategic growth included recent acquisitions of premium regional air carriers, integrating fixed-wing capabilities into their repertoire. This enhances their ability to deliver point-to-point services across 24 countries, including the UK, Norway, Nigeria, and the U.S.

Financially, Bristow has fortified its position through strategic investments and partnerships. Notably, in January 2024, Bristow secured a £55 million equipment financing deal led by National Westminster Bank Plc to support commitments under the UKSAR2G contract. This reflects Bristow's stable financial outlook and its commitment to upgrading its fleet with advanced SAR helicopters like the AgustaWestland AW139.

Further cementing its global footprint, Bristow received an Air Operator Certificate from the Irish Aviation Authority in February 2024, paving the way for next-generation Coast Guard SAR services in Ireland. The company also signed a Memorandum of Understanding with Saudi Arabia's Helicopter and Jet Company (THC) to explore advanced air mobility and collaborative vertical lift initiatives.

In terms of recent performance, Bristow reported a net loss of $7.9 million for Q4 2023, attributed to higher operating expenses and foreign exchange impacts. However, the company remains optimistic with a projected multi-year growth cycle in offshore energy, supported by new contracts and strategic investments in both government and commercial sectors.

Bristow continues to innovate and expand, ensuring it remains at the forefront of the vertical flight solutions industry. For more information, visit their website.

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Bristow Group (NYSE: VTOL) and Leonardo have finalized long-term agreements for enhanced fleet support and training of AW139 and AW189 helicopters extending into the next decade. The package includes enhanced Power-by-the-Hour maintenance agreements, simulator training in Aberdeen, and the introduction of a new AW139 flight simulator by 2026. Bristow will add four new AW189 helicopters to its offshore energy services fleet in 2025-2026. The agreements cover global fleet support with KPIs, inventory management, training, and Health and Usage Monitoring Systems.

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Bristow Group (NYSE: VTOL) reported Q3 2024 results with total revenues of $365.1 million, up from $359.7 million in Q2 2024. Net income remained stable at $28.2 million ($0.95 per diluted share). The company raised its 2024 Adjusted EBITDA outlook range to $220-$230 million. Operating revenues increased by $3.9 million sequentially, with government services up $5.8 million and fixed wing services up $3.6 million, while offshore energy services declined $4.8 million. Operating expenses increased $16.3 million, primarily due to higher personnel costs, including a $6.5 million UK labor agreement impact.

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Bristow Group (NYSE: VTOL), a global leader in vertical flight solutions, has scheduled its third quarter 2024 earnings release for Tuesday, November 5, 2024, after market close. The company will host a conference call on Wednesday, November 6, 2024, at 10:00 a.m. ET to discuss the results. Investors can register early for the call through a provided link. A replay will be available until November 27, 2024, and the investor presentation will be accessible on the company's website on November 6.

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Bristow Group Inc. (NYSE: VTOL), a leader in vertical flight solutions, has announced its participation in the 32nd Annual Deutsche Bank Leveraged Finance Conference. The company's President and CEO, Chris Bradshaw, will engage in a fireside chat discussion on Tuesday, September 24, 2024, at 9:20 a.m. MT (11:20 a.m. CT).

In addition to the fireside chat, Bradshaw will participate in investor meetings throughout the day. This event provides an opportunity for Bristow Group to showcase its innovative and sustainable vertical flight solutions to potential investors and industry professionals.

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Bristow Group (NYSE: VTOL), a leader in vertical flight solutions, has announced its participation in the Barclays 38th Annual CEO Energy-Power Conference on September 3, 2024. The company's top executives, Chris Bradshaw (President and CEO) and Jennifer Whalen (Senior VP and CFO), will engage in investor meetings throughout the event day.

This conference participation highlights Bristow's commitment to investor relations and its position in the energy and power sectors. As a global leader in innovative and sustainable vertical flight solutions, Bristow's presence at this prestigious event could provide valuable insights into the company's strategies, market outlook, and future plans for investors and industry analysts.

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Bristow Group (NYSE: VTOL), a leader in vertical flight solutions, announced its CEO Chris Bradshaw will participate in a fireside chat with Evercore ISI's James West on September 4, 2024. The discussion, scheduled for 11 a.m. Eastern Time, will focus on oil service, equipment, and drilling topics. Investors can register for the webinar through a provided Zoom link. This event offers an opportunity for stakeholders to gain insights into Bristow's operations and industry perspectives from top executives.

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Bristow Group (NYSE: VTOL) reported strong Q2 2024 results and raised its outlook. Key highlights include:

  • Total revenues of $359.7 million in Q2 2024, up from $337.1 million in Q1 2024
  • Net income of $28.2 million ($0.96 per diluted share) in Q2 2024, compared to $6.6 million ($0.23 per diluted share) in Q1 2024
  • Adjusted EBITDA of $71.3 million in Q2 2024, up from $47.5 million in Q1 2024
  • Increased 2024 Adjusted EBITDA outlook to $210-$230 million
  • Raised 2025 Adjusted EBITDA outlook to $230-$260 million

The company attributes its strong performance to growth in government services, an accelerating offshore energy upcycle, and tight supply dynamics. Bristow expects significant improvements in margins, free cash flow, and capital returns in the coming years.

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Bristow Group Inc. (NYSE: VTOL), a global leader in vertical flight solutions, has announced its upcoming second quarter 2024 financial results release and conference call. The company will disclose its Q2 2024 financial results after market close on Tuesday, August 6, 2024. A conference call is scheduled for Wednesday, August 7, 2024, at 10 a.m. ET (9 a.m. CT) to discuss the results.

Investors can participate in the call by registering through a provided link. A replay of the call will be available until August 28, 2024. Additionally, an investor presentation will be accessible on Bristow's website in the investor section on August 7, 2024.

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Bristow Group announced that its UK subsidiary, Bristow Leasing , has entered into a €100 million Export Development Guarantee term-loan facility with NatWest, backed by UK Export Finance (UKEF). This funding will support Bristow's next-generation search and rescue (SAR) operations in Ireland. The loan, guaranteed 80% by UKEF, is secured by five new Leonardo AW189 SAR-configured helicopters. The loan has a two-year availability period, followed by a five-year term, with interest at EURIBOR plus 1.95% per annum. Bristow's President, Chris Bradshaw, highlighted the loan's role in enhancing financial flexibility for their growing government services business.

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Bristow Group (NYSE: VTOL) announced that it will present at the 2024 J.P. Morgan Energy, Power & Renewables Conference on June 18, 2024.

Bristow's President and CEO, Chris Bradshaw, along with Senior VP and CFO, Jennifer Whalen, will present at 10:55 a.m. ET and engage in investor meetings throughout the day.

The investor presentation will be accessible on June 18, 2024, on Bristow's website.

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FAQ

What is the current stock price of Bristow Group (VTOL)?

The current stock price of Bristow Group (VTOL) is $32.61 as of December 20, 2024.

What is the market cap of Bristow Group (VTOL)?

The market cap of Bristow Group (VTOL) is approximately 941.0M.

What services does Bristow Group Inc. provide?

Bristow Group Inc. provides helicopter and fixed-wing transportation services primarily to the offshore energy industry, as well as search and rescue (SAR) operations and other aviation-related solutions.

Where does Bristow operate?

Bristow operates globally in regions including Africa, the Americas, Europe Caspian, and Asia Pacific, servicing clients in 24 countries including the UK, Norway, Nigeria, and the U.S.

What are Bristow’s recent financial achievements?

Recently, Bristow secured a £55 million equipment financing deal to support its UKSAR2G contract and reported a net loss of $7.9 million for Q4 2023, with plans for future growth supported by new contracts and strategic investments.

What is the significance of the UKSAR2G contract for Bristow?

The UKSAR2G contract is crucial for Bristow as it strengthens its position in providing advanced search and rescue services in the UK with new, state-of-the-art SAR helicopters like the AgustaWestland AW139.

How does Bristow contribute to search and rescue operations?

Bristow provides SAR services using helicopters equipped with the latest technology, including night vision and advanced medical capabilities, operating under contracts with government agencies like the UK Maritime & Coastguard Agency.

What are Bristow’s future plans in terms of fleet expansion?

Bristow plans to upgrade its fleet with new helicopters like the AW139 and AW189 to support both offshore transport and SAR missions, with deliveries scheduled through 2028 as part of its strategic investment in fleet modernization.

Who are Bristow’s key partners?

Bristow's key partners include financial institutions like National Westminster Bank Plc for financing, as well as collaborative agreements with companies like Saudi Arabia's Helicopter and Jet Company (THC) for advanced air mobility initiatives.

What steps has Bristow taken towards environmental sustainability?

Bristow is committed to sustainability, investing in helicopters capable of operating on Sustainable Aviation Fuels (SAFs) and implementing strategic initiatives to lower CO2 emissions across its operations.

What recent certifications has Bristow obtained?

Bristow recently obtained an Air Operator Certificate from the Irish Aviation Authority, enabling it to provide next-generation Coast Guard SAR services in Ireland.

How does Bristow ensure safety in its operations?

Bristow ensures safety through rigorous compliance with regulatory standards, utilizing advanced SAR technology, and maintaining a strong focus on operational excellence and crew training.

Bristow Group Inc.

NYSE:VTOL

VTOL Rankings

VTOL Stock Data

941.00M
27.91M
2.31%
97.88%
1.77%
Oil & Gas Equipment & Services
Air Transportation, Nonscheduled
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United States of America
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