Bristow Group Inc · Q2 2022 earnings

Briefing

Reported net income of $2.8 million, or $0.10 per diluted share, for its fiscal second quarter ended September 30, 2021.

Bristow Group reported Q2 FY22 results with total revenues of $301.6 million and net income of $2.8 million, or $0.10 per diluted share. Adjusted EBITDA was $44.5 million. The company's financial results were impacted by Hurricane Ida, pandemic-related travel restrictions, labor union settlement costs, and expenses related to the UK SAR 2G contract pursuit.

• Total revenues were $301.6 million in Q2 FY22 compared to $300.6 million in Q1 FY22.
• Net income was $2.8 million, or $0.10 per diluted share, in Q2 FY22 compared to net loss of $14.2 million, or $0.50 per diluted share, in Q1 FY22.
• EBITDA adjusted to exclude special items and asset dispositions was $44.5 million in Q2 FY22 compared to $40.0 million in Q1 FY22.
• As of September 30, 2021, unrestricted cash balance was $237.0 million with total liquidity of $287.6 million.

Headline financials

Revenue & EPS history

This press release contains forward-looking statements that represent the company’s current expectations or forecasts of future events. The company cautions investors not to place undue reliance on any forward-looking statements, as the company’s actual results may vary materially from those anticipated in forward-looking statements.