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Sep 30, 2024
Bristow Q3 2024 Earnings Report
Bristow reported an increase in revenue and net income remained consistent compared to the previous quarter, while adjusted EBITDA decreased.
Key Takeaways
Bristow Group Inc. reported net income attributable to the Company of $28.2 million, or $0.95 per diluted share, for the quarter ended September 30, 2024, on operating revenues of $356.4 million. The company raised its Adjusted EBITDA guidance range from $210 - $230 million to $220 - $230 million for 2024.
Total revenues reached $365.1 million in Q3 2024, compared to $359.7 million in Q2 2024.
Net income was $28.2 million, or $0.95 per diluted share, in Q3 2024, consistent with Q2 2024.
Adjusted EBITDA was $60.2 million in Q3 2024, compared to $71.3 million in Q2 2024.
The company increased its 2024 Adjusted EBITDA outlook range to $220 - $230 million.
Bristow
Bristow
Bristow Revenue by Segment
Bristow Revenue by Geographic Location
Revenue by Segment
Offshore Energy Services Revenue
CapyFin.comGovernment Services Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comAfrica Revenue
CapyFin.com Forward Guidance
The Company raised its Adjusted EBITDA guidance range from $210 - $230 million to $220 - $230 million for 2024. The Company’s targets for 2025 and 2026 remain unchanged.
Positive Outlook
- Offshore energy services operating revenues are expected to be between $900 - $930 million for 2024.
- Government services operating revenues are expected to be between $330 - $340 million for 2024.
- Fixed wing services operating revenues are expected to be between $120 - $130 million for 2024.
- Other services operating revenues are expected to be between $5 - $10 million for 2024.
- Adjusted EBITDA, excluding asset dispositions and foreign exchange, is expected to be between $220 - $230 million for 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income