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Bristow Q1 2025 Earnings Report
Bristow Group reported a decrease in total revenues and net income for the first quarter of 2025 compared to the preceding quarter, while Adjusted EBITDA remained consistent.
Key Takeaways
Bristow Group Inc. reported total revenues of $350.5 million for the quarter ended March 31, 2025, a slight decrease from $353.5 million in the preceding quarter. Net income attributable to the Company was $27.4 million, or $0.92 per diluted share, down from $31.8 million, or $1.07 per diluted share, in the prior quarter. Adjusted EBITDA for the quarter was $57.7 million, consistent with the preceding quarter.
Total revenues for Q1 2025 were $350.5 million, a slight decrease from $353.5 million in Q4 2024.
Net income for Q1 2025 was $27.4 million ($0.92 per diluted share), down from $31.8 million ($1.07 per diluted share) in Q4 2024.
Adjusted EBITDA for Q1 2025 was $57.7 million, consistent with Q4 2024.
The company affirmed its 2025 Adjusted EBITDA outlook range of $230 - $260 million and 2026 Adjusted EBITDA outlook range of $275 - $335 million.
Bristow
Bristow
Bristow Revenue by Segment
Bristow Revenue by Geographic Location
Revenue by Segment
Offshore Energy Services Revenue
CapyFin.comGovernment Services Revenue
CapyFin.comOther Services Revenue
CapyFin.comRevenue by Geographic Location
Europe Revenue
CapyFin.comAmericas Revenue
CapyFin.comAfrica Revenue
CapyFin.com Forward Guidance
Bristow Group affirmed its Adjusted EBITDA outlook ranges for both 2025 and 2026, indicating a positive outlook despite macroeconomic risks.
Positive Outlook
- Affirmed 2025 Adjusted EBITDA outlook range of $230 - $260 million.
- Affirmed 2026 Adjusted EBITDA outlook range of $275 - $335 million.
- Positive outlook for Bristow's business, supported by the stability of Government Services.
- Preponderant weighting of Offshore Energy Services business to production support activities.
- Breadth and diversity of geographic markets served.
Challenges Ahead
- Macroeconomic risks and uncertainties have increased significantly.
- Foreign currency fluctuations can impact reported financials, particularly the GBP/USD exchange rate.
- Each £0.01 movement in GBP/USD exchange rate impacts Adjusted EBITDA by +/- ~$1.2 million.
- Inability to provide reconciliation of projected Adjusted EBITDA to projected net income due to unpredictable components.
- Uncertainty regarding timing and estimates of items used to reconcile projected Adjusted Operating Income by segment.