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Mar 31, 2022
Bristow Q4 2022 Earnings Report
Reported a net loss for Q4 2022, but Adjusted EBITDA excluding asset dispositions increased compared to Q3 2022.
Key Takeaways
Bristow Group reported a net loss of $4.3 million for the fiscal fourth quarter ended March 31, 2022, on operating revenues of $275.6 million. Adjusted EBITDA excluding asset dispositions was $35.9 million. The company announced plans to acquire British International Helicopters Limited.
Total revenues were $287.4 million in Q4 FY22.
Net loss was $4.3 million, or $(0.15) per diluted share, in Q4 FY22.
EBITDA adjusted to exclude special items and asset dispositions was $35.9 million in Q4 FY22.
Unrestricted cash balance was $263.8 million as of March 31, 2022, with total liquidity of $318.7 million.
Revenue by Segment
Forward Guidance
Bristow is expanding its government services offering to the provision of search and rescue and personnel transportation services
Positive Outlook
- Expansion of government services business
- Strengthening of the British pound sterling relative to the U.S. dollar
- Higher utilization
- Bristow is well-positioned to further expand government and military services business
- New relationship with the British Armed Forces
Challenges Ahead
- Lower utilization in the Americas and Africa regions
- Seasonality and lower utilization
- Increased compensation expense and severance costs
- Aircraft lease return costs related to the Merger
- Severance costs in the Africa region
Historical Earnings Impact
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Avg. Return Before/After Earnings
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