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Bristow Group Inc. (NYSE: VTOL) delivers essential vertical aviation services to offshore energy producers and government agencies worldwide. This news hub provides investors and industry stakeholders with verified updates about the company's operational developments, financial performance, and strategic initiatives.
Access timely reports on offshore energy contracts, search-and-rescue program expansions, and aviation safety innovations. Our curated collection includes earnings releases, regulatory filings, and operational updates directly from Bristow's corporate communications.
Key content categories cover quarterly financial results, new government service contracts, fleet modernization programs, and global operational expansions. Bookmark this page for streamlined access to Bristow's latest developments in vertical flight solutions and emergency response aviation.
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.
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.
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.
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.
Bristow Group (NYSE: VTOL) released its third annual Sustainability Report on May 15, 2024, detailing significant achievements in 2023. The company highlighted a 50% reduction in Lost Work Cases and a 39% decrease in Total Recordable Incident Rate. The UK Search and Rescue team rescued 523 people in 2,596 missions. Bristow complied with Global Reporting Initiative standards and completed ISO 27001 certification in two regions. The company also made strides in Advanced Air Mobility (AAM), adding a new strategic partner and completing the first electric aircraft flight in Louisiana. Furthermore, Bristow introduced a Human Rights Framework and appointed Shefali Shah to its Board of Directors.
Bristow Group reported total revenues of $337.1 million in Q1 2024, with a net income of $6.6 million. EBITDA was $47.5 million, affirming the 2024 outlook and issuing financial outlook for 2025 and 2026. Operating revenues from offshore energy services and government services increased, while fixed-wing services saw a decrease. The company reported a lower net loss compared to the previous quarter, highlighted by improvements in margins, capital returns, and free cash flow.
