NYSE$VTOL
Bristow Group Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported strong second quarter financial results and raised the Company’s Adjusted EBITDA guidance range.
Bristow Group Inc. reported net income attributable to the Company of $28.2 million, or $0.96 per diluted share, for its quarter ended June 30, 2024, on operating revenues of $352.5 million. Adjusted EBITDA outlook range increased to $210 million - $230 million for 2024 and to $230 million - $260 million for 2025.
- Total revenues of $359.7 million in Q2 2024 compared to $337.1 million in Q1 2024.
- Net income of $28.2 million, or $0.96 per diluted share, in Q2 2024 compared to net income of $6.6 million, or $0.23 per diluted share, in Q1 2024.
- EBITDA adjusted to exclude special items, asset dispositions and foreign exchange losses was $71.3 million in Q2 2024 compared to $47.5 million in Q1 2024.
- Increased 2024 Adjusted EBITDA outlook range to $210 million - $230 million and 2025 outlook to $230 million - $260 million.
Headline financials
Revenue & EPS history
Bristow · Revenue · Quarterly
$360M
Revenue by segment
Bristow · $299M total across 2 segments · Q3 2023
- Offshore Energy Services$213M—71.3%
- Government Services$85.5M+28.8%28.7%
Forward guidance
The Company raised its Adjusted EBITDA guidance ranges from $190 - $220 million to $210 - $230 million for 2024 and from $210 - $245 million to $230 - $260 million for 2025.
Tailwinds
- Offshore energy services operating revenues are expected to be $900 - $930 million in 2024 and $910 - $1,020 million in 2025.
- Government services operating revenues are expected to be $330 - $345 million in 2024 and $405 - $445 million in 2025.
- Fixed wing services operating revenues are expected to be $120 - $130 million in 2024 and $120 - $140 million in 2025.
- Other services operating revenues are expected to be $5 - $10 million in 2024 and $5 - $10 million in 2025.
- Adjusted EBITDA, excluding asset dispositions and foreign exchange, is expected to be $210 - $230 million in 2024 and $230 - $260 million in 2025.
Headwinds
- Cash interest is expected to be ~$40 million in 2024 and ~$45 million in 2025.
- Cash taxes are expected to be $20 - $25 million in 2024 and $20 - $25 million in 2025.
- Maintenance capital expenditures are expected to be $15 - $20 million in 2024 and $15 - $20 million in 2025.
- Impact of supply chain disruptions and inflation and our ability to recoup rising costs in the rates we charge to our customers.
- Possibility that we may be unable to maintain compliance with covenants in our financing agreements
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.0%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+0.7%
Avg return
30 days after
60%
31 / 52 earnings
Positive
+20.7%
Q4 2015
Best reaction
-14.7%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | -14.1% | -14.7% | |
| Q4 2025 | +2.9% | -2.5% | -1.5% | |
| Q3 2025 | -7.0% | -8.1% | -11.2% | |
| Q1 2025 | -6.1% | +2.3% | +3.2% | |
| Q4 2024 | +9.2% | -4.8% | -8.6% | |
| Q3 2024 | +13.0% | +13.0% | +7.5% | |
| Q2 2024 | +14.6% | +14.6% | +9.1% | |
| Q1 2024 | +13.3% | +19.5% | +14.3% | |
| Q4 2023 | -4.7% | -6.2% | -0.8% | |
| Q3 2023 | +9.4% | +9.2% | +0.5% | |
| Q2 2023 | +0.3% | -0.9% | -10.5% | |
| Q1 2023 | -5.4% | -0.2% | +17.5% | |
| Q4 2022 | -9.7% | -8.5% | -26.2% | |
| Q3 2022 | -11.1% | -10.1% | +11.8% | |
| Q2 2022 | +3.6% | +4.0% | -19.3% | |
| Q1 2022 | -1.6% | +2.2% | +31.5% | |
| Q4 2021 | -6.7% | -3.4% | -9.5% | |
| Q3 2021 | +1.6% | +7.2% | +6.3% | |
| Q2 2021 | +7.9% | +5.1% | +30.6% | |
| Q1 2021 | +6.1% | +6.2% | +16.4% | |
| Q1 2020 | -9.3% | -19.9% | -8.2% | |
| Q4 2019 | -9.7% | -28.0% | -56.1% | |
| Q3 2019 | +1.3% | -1.0% | -10.2% | |
| Q2 2019 | +17.7% | +21.8% | +8.1% | |
| Q1 2019 | +0.3% | +3.3% | -16.5% | |
| Q4 2018 | +1.4% | +5.3% | +15.7% | |
| Q3 2018 | +1.4% | -4.2% | -18.4% | |
| Q2 2018 | -7.4% | -10.2% | -16.1% | |
| Q1 2018 | -0.1% | +4.5% | +12.8% | |
| Q4 2017 | +0.4% | -0.5% | -0.5% | |
| Q3 2017 | +7.6% | +0.3% | -2.4% | |
| Q2 2017 | +3.0% | -2.0% | +19.1% | |
| Q1 2017 | -3.9% | -5.3% | -4.3% | |
| Q4 2016 | -8.0% | -7.3% | +3.2% | |
| Q3 2016 | -1.2% | +6.0% | +56.8% | |
| Q2 2016 | +6.6% | +8.8% | -4.4% | |
| Q1 2016 | -3.3% | — | — | |
| Q4 2015 | +20.7% | — | — | |
| Q3 2015 | -14.7% | — | — | |
| Q2 2015 | +12.0% | — | — | |
| Q1 2015 | -2.6% | — | — | |
| Q4 2014 | -2.6% | — | — | |
| Q3 2014 | +0.2% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q2 2014 | +1.1% | — | — | |
| Q1 2014 | +2.1% | — | — | |
| Q3 2013 | +0.4% | — | — | |
| Q3 2012 | +0.4% | — | — | |
| Q2 2013 | -0.0% | — | — | |
| Q1 2012 | +2.4% | — | — | |
| Q1 2013 | +2.4% | — | — | |
| Q4 2012 | +2.4% | — | — | |
| Q2 2012 | — | — | — |
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