$VTOL reports strong Q4 results; positive outlook for Bristow Group Inc.
Mar 9th 2023, 11:10 am
Analyst Summary: Bristow Group Inc. has posted strong financial results in the quarter ended December 31, 2022. The Company's revenues were up by $7.0 million to $304.4 million compared to the last quarter, and adjusted EBITDA was $35.5 million compared to $25.2 million in the preceding quarter. Chris Bradshaw, President and CEO of Bristow Group stated, "We are pleased with our softest financial results, and the momentum will then build with the run rate at year-end expected to be significantly higher than the first half of the year." The company’s outlook is positive, primarily driven by the offshore energy market's multi-year growth cycle, according to management. Positive results are expected to come from Africa, the Americas, Europe region, and fixed-wing and other services. Bristow Group has also announced changes in its fiscal year end, aligning its fiscal year to the calendar year. The CEO cautioned investors regarding potential risks and uncertainties, including supply chain disruptions, delays in receiving payments, and the impact of inflation.