Bristow Group Inc Stock Price, News & Analysis

Bristow Group Inc. (NYSE: VTOL) will announce its financial results for the December quarter and year-to-date 2022 after market close on March 8, 2023. A conference call is scheduled for March 9, 2023, at 10 a.m. ET, allowing investors to discuss the results and future outlook. The call replay will be available until March 30, 2023. Bristow is recognized for its innovative vertical flight solutions, primarily serving offshore energy companies and government entities. Their services include personnel transportation, search and rescue, and more, with operations in various countries, including the U.S., Canada, and Brazil.

Bristow Group Inc. (NYSE: VTOL) has announced a new organizational structure aimed at enhancing its leadership for Government Services and Offshore Energy Services. This restructuring includes the appointment of dedicated Chief Operating Officers for each service line, ensuring focused management to drive growth and efficiency. Alan Corbett is appointed COO of Government Services, while Stuart Stavley takes on the same role for Offshore Energy Services. The changes are expected to align the company’s operations with market demands and improve service consistency. CEO Chris Bradshaw emphasized the strategy’s goal is to bolster Bristow’s long-term growth and diversification efforts.

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.