Bristow

Feb 03, 2022

•

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.