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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.
Bristow
Bristow
Bristow Revenue by Segment
Revenue by Segment
Government Services Revenue
CapyFin.com 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