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.
Bristow Group (NYSE: VTOL) has secured two thirteen-year equipment financings amounting up to £145 million with NatWest. These funds will refinance previous equipment debts and support obligations with the UK Department for Transport and the Maritime & Coastguard Agency. The credit facilities, expected to fund in Q1 2023, will bear interest at a rate of Sterling Overnight Index Average plus 2.75% and will be secured by ten search and rescue helicopters.
Bristow Group Inc. (NYSE: VTOL) has appointed Elizabeth Matthews as Senior Vice President, General Counsel, Head of Government Affairs, and Corporate Secretary, effective December 21, 2022. With over 25 years of legal experience, Matthews has extensive knowledge in the energy sector, having served at TotalEnergies and Chevron. CEO Chris Bradshaw highlighted her legal expertise as crucial for navigating the company's growth in traditional and emerging energy opportunities. Matthews holds a cum laude degree from Yale and a Juris Doctor from Harvard.
Bristow Group (NYSE: VTOL) has initiated a 10-year contract to provide 24/7 search and rescue (SAR) helicopter services for the Netherlands Coastguard. This contract includes the operation of AW189 helicopters from new bases at Den Helder and Midden Zeeland Airports. The service is designed to deliver critical emergency responses and will feature advanced technologies for effective operations. Bristow aims to leverage its global SAR expertise and re-establish its safety culture in the Netherlands.
Bristow Group reported total revenues of $307.3 million in Q2 FY23, a slight increase from $301.7 million in Q1 FY23. The company achieved a net income of $16.5 million, or $0.58 per diluted share, up from $4.0 million or $0.14 in the previous quarter. Adjusted EBITDA was $33.9 million, down from $37.1 million in Q1. The unrestricted cash balance stood at $199.5 million, with total liquidity of $251.2 million as of September 30, 2022. Although demand is improving, a strong U.S. dollar is affecting financial outlook for 2023.
Bristow Group Inc. (NYSE: VTOL) has announced the release of its financial results for the second quarter of fiscal year 2023, scheduled for after market close on November 2, 2022. The company will host a conference call on November 3, 2022, at 10 a.m. ET to discuss these results. Investors can participate by calling 800-289-0462 for domestic or +1 856-344-9282 internationally. A replay of the call will be available until November 17, 2022.
Bristow Group Inc. (NYSE: VTOL), a leader in vertical flight solutions, will present at the 30th Annual Deutsche Bank Leveraged Finance Conference on September 20, 2022, at 3:35 p.m. MDT. CFO Jennifer Whalen will lead the presentation and participate in investor meetings throughout the day. The investor presentation will be accessible on the company's website on the same date. Bristow provides aviation services to major energy companies and offers search and rescue services globally.
Bristow Group Inc. (NYSE: VTOL) has secured a four-year search and rescue contract from Equinor, starting September 1, 2023, with the option for three additional one-year extensions. Bristow will operate three S-92 helicopters stationed offshore at Johan Sverdrup and Statfjord B platforms, vital for emergency preparedness on the Norwegian continental shelf. The contract marks a continued partnership of over 25 years between Bristow and Equinor in various regions, including Brazil and the U.S.
Bristow Group Inc. (NYSE: VTOL) will present at the Barclays CEO Energy-Power Conference on September 8, 2022, at 9:45 a.m. ET. CEO Chris Bradshaw is scheduled to speak and engage in investor meetings throughout the day. The investor presentation will be accessible on Bristow's website on the same date. Bristow is a leader in sustainable vertical flight solutions, providing aviation services to energy companies and performing search and rescue operations globally. For more details, visit www.bristowgroup.com.
Bristow Group has placed a firm order for five ALIA-250 aircraft from BETA Technologies, with an option for 50 more. This move positions Bristow as a leader in Advanced Air Mobility (AAM), aiming to transport passengers and cargo efficiently. The ALIA-250 features a range of 250 nautical miles and a payload capacity of 1,400 lbs. With over 70 years in aviation, Bristow plans to leverage this expertise to develop regional mobility networks. The aircraft can be charged in under an hour, emphasizing a commitment to sustainable aviation solutions.
Bristow Group reported total revenues of $301.7 million in Q1 FY23, up from $287.4 million in Q4 FY22. The firm achieved a net income of $4.0 million or $0.14 per diluted share, rebounding from a net loss of $4.3 million in the previous quarter. Adjusted EBITDA also rose to $51.1 million, compared to $35.9 million in Q4 FY22. The company secured a £1.6 billion contract for search and rescue services, enhancing its portfolio. With unrestricted cash of $255.0 million, Bristow maintains strong liquidity. The firm initiated a $40.0 million stock repurchase program to return capital to shareholders.
FAQ
What is the current stock price of Bristow Group (VTOL)?
What is the market cap of Bristow Group (VTOL)?
What services does Bristow Group Inc. provide?
Where does Bristow operate?
What are Bristow’s recent financial achievements?
What is the significance of the UKSAR2G contract for Bristow?
How does Bristow contribute to search and rescue operations?
What are Bristow’s future plans in terms of fleet expansion?
Who are Bristow’s key partners?
What steps has Bristow taken towards environmental sustainability?
What recent certifications has Bristow obtained?
How does Bristow ensure safety in its operations?
