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 Inc. (NYSE: VTOL), a leading provider of sustainable vertical flight solutions, will present at the Credit Suisse 27th Annual Energy Summit on February 28, 2022. Jennifer Whalen, Senior Vice President and CFO, is scheduled to speak at 2:45 p.m. MST and conduct investor meetings. The investor presentation will be accessible on Bristow's website on the same day. The company specializes in aviation services for energy sectors and public search and rescue operations internationally.
Bristow Group (NYSE: VTOL) reported Q3 FY22 revenues of $295.6 million, down from $301.6 million in Q2 FY22. The company achieved breakeven earnings per share compared to a net income of $2.8 million in Q2 FY22. EBITDA fell to $30.7 million from $44.5 million in the previous quarter. Despite challenges, Bristow generated Adjusted Free Cash Flow of $41.8 million, an increase from $19.1 million in Q2 FY22. The company maintains a strong liquidity position with $274 million in unrestricted cash. Upcoming demand in the offshore oil and gas sector is expected to enhance financial performance.
Bristow Group Inc. (NYSE: VTOL) will release its financial results for the third quarter of fiscal year 2022 after market close on February 3, 2022. A conference call will follow on February 4, 2022, at 10 a.m. ET. Investors can join by calling 800-289-0720 (domestic) or +1 856-344-9142 (international) with access code 1829005. A replay will be available until February 18, 2022. The investor presentation will also be accessible on the company's website from February 18, 2022.
Bristow Group (NYSE: VTOL) has secured a 10-year contract from the Netherlands Defence Materiel Organisation to provide search and rescue helicopter services for the Netherlands Coastguard, starting on November 4, 2022. The contract includes the option for two one-year extensions and will utilize AW189 helicopters with highly qualified crews. Bristow will enhance service capabilities with new technologies and ensure a 24/7 all-weather operational readiness to support both search and rescue and secondary tasks.
Overair and Bristow Group have signed a memorandum of understanding to develop commercialization plans for the Butterfly eVTOL aircraft. Bristow has pre-ordered 20 to 50 Butterfly units, focusing on operational frameworks, FAA certification, and maintenance protocols. The collaboration aims to reduce carbon footprints and expand high-density transport services. With Overair's military-grade experience and Bristow's operational insights, they will enhance Butterfly's market entry. The unique attributes of the Butterfly are expected to optimize fleet management and improve economic productivity.
Bristow Group Inc. (NYSE: VTOL) successfully completed an offshore revenue flight using sustainable aviation fuel (SAF) on December 10, 2021. This milestone marks one of the first SAF-powered flights in the UK Continental Shelf, flying from Aberdeen to bp-operated installations. As part of a strategic partnership with Air bp, Bristow aims to offer SAF as an option to clients in the future. The initiative is part of Bristow's broader efforts to reduce carbon emissions, including using electric-powered ground support and advancing sustainable aviation solutions.
Bristow Group reported total revenues of $301.6 million in Q2 FY22, up from $300.6 million in Q1 FY22. The net income was $2.8 million or $0.10 per diluted share, reversing from a net loss of $14.2 million in the prior quarter. Adjusted EBITDA rose to $44.5 million compared to $40.0 million in Q1. Despite challenges from Hurricane Ida and pandemic-related impacts, total liquidity stands at $287.6 million. The company repurchased 547,596 shares for $14.9 million.
Bristow Group Inc. (NYSE: VTOL) will release its second quarter fiscal year 2022 financial results on November 3, 2021, after market close. A conference call is scheduled for November 4, 2021, at 10 a.m. ET. Investors can join by calling 866-575-6539 domestically or +1 856-344-9299 internationally. A replay will be available until November 17, 2021. The investor presentation will be accessible on their website on November 4.
Bristow Group (NYSE: VTOL), a leader in vertical flight solutions, will present virtually at the Deutsche Bank Leveraged Finance Conference on October 5, 2021. The presentation will feature CEO Chris Bradshaw and CFO Jennifer Whalen at 9 a.m. ET, followed by investor meetings. An investor presentation will be accessible on Bristow's website on the same date. Bristow provides aviation services to major energy companies and public sector search and rescue operations in the U.K. and various other countries.
Bristow Group (NYSE: VTOL) and Eve Urban Air Mobility, an Embraer entity, announced a strategic partnership to develop an Air Operator's Certificate for Eve's electric vertical takeoff and landing (eVTOL) aircraft. The collaboration aims to create a comprehensive Urban Air Mobility operating model, leveraging Bristow's extensive experience in transportation. As part of this agreement, Bristow has ordered up to 100 eVTOLs, with deliveries expected to commence in 2026. Both companies will focus on vehicle design, regulatory development, and integration with air traffic management systems.
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