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Dec 31, 2021
Bristow Q3 2022 Earnings Report
Reported a net loss attributable to the company with decreased operating revenues and profitability due to various factors, including Hurricane Ida's impact and adverse variances.
Key Takeaways
Bristow Group Inc. reported a net loss of $0.1 million for the fiscal third quarter ended December 31, 2021, with operating revenues of $285.0 million. The company's financial results were impacted by several factors, including costs related to Hurricane Ida, timing of major repairs, aircraft lease return costs, and foreign currency exchange variances. Despite these challenges, the company generated approximately $42 million in Adjusted Free Cash Flow.
Total revenues were $295.6 million in Q3 FY22, compared to $301.6 million in Q2 FY22.
Breakeven earnings and earnings per share in Q3 FY22, compared to net income of $2.8 million, or $0.10 per diluted share, in Q2 FY22.
EBITDA adjusted to exclude special items and asset dispositions was $30.7 million in Q3 FY22, compared to $44.5 million in Q2 FY22.
Adjusted Free Cash Flow was $41.8 million in Q3 FY22, compared to $19.1 million in Q2 FY22.
Bristow
Bristow
Bristow Revenue by Segment
Revenue by Segment
Government Services Revenue
CapyFin.comOther Services Revenue
CapyFin.com Forward Guidance
Bristow anticipates substantial improvements in its financial results due to expected increased spending in the offshore oil and gas market.