Bristow Group Inc Stock Price, News & Analysis

Bristow Group reported a net loss of $27.9 million, or $0.95 per diluted share, for Q2 FY21 on revenues of $295.7 million, compared to a profit of $71.5 million in Q1 FY21. Adjusted EBITDA rose to $54.2 million from $44.3 million, despite challenging conditions in the offshore oil and gas sector. The company had $301.4 million in unrestricted cash and total liquidity of $358.6 million. Share repurchases totaled 345,327 shares at an average price of $21.93 during September.

Bristow Group Inc. (NYSE: VTOL) will release its financial results for Q2 FY2021 on November 4, 2020, after market close. A conference call is scheduled for November 5, 2020, at 10 a.m. ET. Interested investors can participate by calling 800-367-2403 (domestic) or +1 334-777-6978 (international) with access code 5314473. A replay will be offered until November 19, 2020. The investor presentation will be available on the company’s website following the call.

Bristow Group (NYSE: VTOL), a leading global helicopter operator, will attend the 28th annual Deutsche Bank Leveraged Finance Conference from October 5-7, 2020. Key executives, including President and CEO Chris Bradshaw, CFO Jennifer Whalen, and Treasurer Grant Newman, will engage in one-on-one meetings on October 6. The presentation will be accessible on Bristow's investor relations website. Bristow is recognized for its offshore oil and gas transportation and search and rescue services across key global regions.

Bristow Helicopters has secured a contract extension with the Maritime and Coastguard Agency (MCA) to deliver search and rescue (SAR) services through December 31, 2026. This extension allows Bristow to enhance its capabilities and explore new technologies for future contracts. Bristow operates a fleet of 11 AW189 and 10 S-92 SAR helicopters at 10 strategic locations across the UK, supporting approximately 25,000 incidents annually. The company employs around 360 people and aims to maintain a high standard of service as confirmed by a recent post-implementation report by QinetiQ.

Bristow Helicopters Limited has secured a contract extension with the Maritime and Coastguard Agency (MCA) to provide search and rescue services until December 31, 2026. This extension allows Bristow to introduce new capabilities to its helicopter fleet and explore beneficial technologies for future operations. Currently, Bristow operates a modern fleet of 11 AW189 and 10 S-92 aircraft from 10 bases across the UK. The company has been a key player in the SAR sector since 2013 and has successfully transitioned from military operations to a commercialized service.

Bristow Group Inc. has appointed Jennifer Whalen as the new Senior Vice President and Chief Financial Officer, effective September 16, 2020. Previously acting as CFO since June 2020, Whalen brings extensive experience in financial management to aid in navigating industry challenges. Additionally, Bristow's Board approved a $75 million share repurchase program, expected to enhance shareholder value through market purchases funded by cash on hand and operational cash flow. The program may be terminated at any time, offering flexibility amidst market conditions.

Bristow Group (NYSE: VTOL), a top global helicopter operator, will showcase its offerings at the Barclays CEO Energy-Power Conference from September 8-10, 2020. CEO Chris Bradshaw is set to present on September 9, 2020, at 3:45 p.m. ET and will engage in investor meetings throughout the day. A detailed investor presentation will be available on Bristow's website. Bristow is renowned for offshore oil and gas transport, SAR, and aircraft support services across major global regions.

Bristow Group Inc. (NYSE: VTOL) has announced the renaming of its Aeróleo division to Bristow, reaffirming its commitment to the Brazilian oil and gas sector. With over 40 years of service, Bristow caters to oil and gas firms, maintaining a strong presence despite market challenges. The company operates a modern fleet, including 12 AW139 helicopters, and has recorded over 300,000 flight hours in Brazil. Additionally, Bristow has divested its 41.5% ownership in Líder Taxi Aéreo S.A. – Air Brasil as of August 31, 2020.

Bristow Group reported a net income of $71.5 million or $5.16 per diluted share for Q1 ending June 30, 2020, significantly improving from a loss of $291.7 million in the preceding quarter. Operating revenues reached $261.5 million, down $12.9 million sequentially. EBITDA was $97.0 million, down from $310.1 million. Notably, the current results include 19 days from the Era Group merger. The company recognized a bargain purchase gain of $75.4 million associated with this merger. Cash liquidity stood at $298.7 million.