HOUSTON, Aug. 29, 2024 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL), the global leader in innovative and sustainable vertical flight solutions, today announced it will attend the Barclays 38th Annual CEO Energy-Power Conference on Tuesday, September 3, 2024. Bristow's President and Chief Executive Officer, Chris Bradshaw, and Senior Vice President and Chief Financial Officer, Jennifer Whalen, are scheduled to participate in investor meetings throughout the day. About Bristow Group Bristow Group Inc. is t ...

Group 1 - Bristow Group Inc. announced that its President and CEO, Chris Bradshaw, will participate in a fireside chat on September 4, 2024, at 11 a.m. Eastern Time [1] - The discussion will be led by James West, head of Evercore ISI's Oil Service, Equipment & Drilling research team [1] - Bristow Group is recognized as the leading global provider of innovative and sustainable vertical flight solutions, primarily serving offshore energy companies and government entities [2] Group 2 - The company's aviation services include personnel transportation, search and rescue (SAR), medevac, fixed-wing transportation, uncrewed air systems, and ad hoc helicopter services [2] - Bristow currently serves customers in various countries, including Australia, Brazil, Canada, and the U.S., among others [3]

INVESTORS WO KITCO MARK BRISTOW MINING // INVESTOR ORE KITCO MARK BRISTOW MINING Michael McCrae Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was cofounder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae. Share Disclaimer: The views expressed in ...

Core Viewpoint - Bristow Group reported strong second quarter results, exceeding consensus expectations in both revenue and adjusted EBITDA, driven by the offshore energy services segment [1][8] Financial Performance - Revenue for Q2 2023 was $319 million, up from $302 million in Q1 2023, with adjusted EBITDA reaching $39 million, compared to $29 million in Q1 2023 [1] - Adjusted EBITDA margin improved to 12.2% in Q2 2023 from 9.6% in Q1 2023, with cash flow from operations increasing to $18 million from $7 million [1] - Free cash flow was slightly negative at $9 million due to elevated capital expenditures related to new SAR contracts [2][3] Operational Highlights - The offshore energy services segment outperformed expectations, contributing significantly to the overall financial results, while the government business faced penalties [1][8] - One-time items totaling $8.6 million positively impacted Q2 results, including seasonal personnel cost benefits and adjustments for lease payments [2] Future Outlook - The company raised its outlook for 2024 and 2025, anticipating continued profitability increases from new SAR contracts in the UK and Ireland [2][4] - Bristow expects to generate meaningful free cash flow starting next year, which will support potential shareholder returns through buybacks and dividends [3][4] Valuation and Price Target - Adjusted EBITDA estimates for Bristow have been updated to $220 million for 2024, $250 million for 2025, and $310 million for 2026, with a corresponding price target of $45 based on a multiple of 6.5x EV/Adjusted EBITDA [5][6] - The company's net asset value per share is estimated at $44.06, aligning closely with the new price target [7]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q2 2024 was $71.3 million, up from $47.5 million in Q1 2024, representing an increase of approximately $23.8 million [3][4] - Operating revenues increased by $23.1 million, primarily due to higher utilization and increased rates in offshore energy and Fixed Wing services [4] - The effective tax rate decreased to approximately 25% from 86% in the prior year, attributed to positive changes in the global mix of earnings [4][5] - Adjusted EBITDA guidance for 2024 was raised to $210 million to $230 million, and for 2025 to $230 million to $260 million [5][6] Business Line Data and Key Metrics Changes - The Offshore Energy Services (OES) business saw higher rates and utilization, particularly in Africa, which outperformed expectations [6][9] - The Fixed Wing business experienced higher yields in scheduled passenger transport and a short-term increase in charter activity [6] - Government Services faced availability penalties due to supply chain challenges, impacting overall performance [6][7] Market Data and Key Metrics Changes - The African market has shown significant improvement, with increased activity and customer returns, contributing to higher utilization levels [31][32] - The UK OES business benefited from higher ad hoc activity in the first half of 2024, although this is expected to decrease in the second half [6] - Global offshore spending is anticipated to increase significantly over the next several years, driven by positive industry fundamentals [9][10] Company Strategy and Development Direction - The company is in the early stages of a multi-year growth cycle, with a focus on government services and offshore energy [3][9] - Investments in new contracts, particularly for search and rescue operations, are expected to yield attractive long-term cash flow [8][9] - A disciplined capital allocation approach will prioritize maintaining a strong balance sheet while facilitating organic investments and potential shareholder returns [10][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing offshore energy upcycle, with breakeven economic thresholds well below current commodity prices [21] - Supply chain issues are expected to persist, impacting the Government Services business, but management has factored this into their guidance [14][15] - The company anticipates significant cash flows in the latter half of 2025 and beyond, supported by a strong balance sheet and liquidity position [10][26] Other Important Information - The company completed $157 million of a $300 million capital investment related to new search and rescue contracts as of July [7][8] - Available liquidity as of June 30 was $246 million, with adjusted free cash flow of $33 million generated in Q2 [8] Q&A Session Summary Question: Why was guidance not raised higher despite strong Q2 performance? - Management noted one-time items that benefited Q2 results and expressed confidence in ending the year strongly, with the new midpoint of guidance approximately 30% over 2023 [12][13] Question: What is driving increased visibility for 2025 guidance? - The primary driver for the 2025 guidance increase is the strong performance in Africa, which is expected to continue [13] Question: How long will availability penalties in Government Services last? - Penalties are driven by supply chain issues and are expected to continue, with management's guidance reflecting this expectation [14] Question: What is the expected cadence of aircraft investments? - Deliveries related to SAR contracts are expected over the next two quarters, with a significant drop-off in 2025 [15] Question: What are the current offshore helicopter utilization rates? - Effective utilization levels for relevant helicopter models are at or near 100%, with some idle airframes awaiting parts [17][18] Question: How significant is the risk of lower energy prices? - Management believes the offshore energy upcycle remains intact, with breakeven prices well below current levels [21] Question: What are the assumptions behind the unchanged 2026 targets? - The wide range for 2026 targets reflects the long-term nature of the business, with potential for bias towards the higher end if current trends continue [24] Question: What is the timing for fleet expansion? - The fleet is expected to grow over the next couple of years, with specific deliveries planned for SAR contracts [27][28] Question: What is the current state of the financing market? - The company has secured attractive financing terms for SAR contracts, with sufficient cash flows to manage capital expenditures [39][40] Question: What are the lead times for helicopter orders? - Lead times for super-medium helicopters are currently around 24 months or more, indicating a tight supply-demand balance [45][46]

HOUSTON, Aug. 6, 2024 /PRNewswire/ -- Total revenues of $359.7 million in Q2 2024 compared to $337.1 million in Q1 2024 Net income of $28.2 million, or $0.96 per diluted share, in Q2 2024 compared to net income of $6.6 million, or $0.23 per diluted share, in Q1 2024 EBITDA adjusted to exclude special items, asset dispositions and foreign exchange losses was $71.3 million in Q2 2024 compared to $47.5 million in Q1 2024(1) Increases 2024 Adjusted EBITDA outlook range to $210 million - $230 million and 2025 ou ...

| --- | --- | |------------------------------|-------| | | | | Investors Bristow Group Inc. | | | Jennifer Whalen | | | [email protected] | | | Media | | | Bristow Group Inc. | | | Adam Morgan | | | [email protected] | | HOUSTON, July 29, 2024 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL), the global leader in innovative and sustainable vertical flight solutions, today announced it will release its second quarter 2024 financial results after market close on Tuesday, August 6, 2024. In connection with the ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q1 2024 was $47.5 million, an increase of $1.5 million from $46 million in Q4 2023 [6] - Operating revenues decreased by $200,000 primarily due to lower seasonal activity in the fixed wing business, offset by increases in Offshore Energy Services and Government Services [7] - Available liquidity as of March 31 was $223 million, with adjusted free cash flow of $22 million for the quarter [8] Business Line Data and Key Metrics Changes - Offshore Energy Services accounted for approximately 65% of LTM revenues of $1.3 billion, while Government Services contributed a little more than 25% [12] - The company has a contractual backlog of approximately $4.2 billion, with $3.2 billion from stable Government Services contracts [15][16] Market Data and Key Metrics Changes - The global demand for floating rigs is expected to grow by 32% between 2023 and 2028, driving increased demand for helicopters servicing drilling and exploration activities [25] - Final investment decisions (FIDs) for offshore projects are expected to surpass $100 billion in each of 2024, 2025, and 2026, totaling almost $500 billion between 2023 and 2026 [24] Company Strategy and Development Direction - The company is transitioning to new contracts, including the Irish Coast Guard and UKSAR2G, which will ramp up in 2025 and 2026 [32] - The company aims to maintain a strong balance sheet while investing for growth, particularly in Government Services and Offshore Energy [55][58] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the Offshore Energy Services business, citing a positive inflection point and a multiyear growth cycle [18][26] - The company is focused on enhancing contract terms and conditions in the current market environment, which presents opportunities for better margins [90] Other Important Information - The company has a strong balance sheet with a net debt-to-EBITDA ratio of approximately 2.2 times, expected to return to around 2 times post-investment cycle [57] - The company has ordered 10 AW189 helicopters to meet customer demand and boost profitability [44] Q&A Session Summary Question: What type of uplift should be expected from contract repricing? - Management indicated that leading-edge rates are 25% or more higher than legacy contracts, significantly impacting cash flows [66] Question: Is the industry more disciplined now regarding capacity? - Management noted a more disciplined industry with limited production capacity, contrasting with speculative orders before 2014 [69] Question: What drove the outperformance in Q1? - The outperformance was attributed to the new run rate from contracts that started in Norway and Brazil in the second half of 2023 [71] Question: Why provide longer-term guidance now? - The guidance aims to clarify the new earnings power post-transition of large projects, particularly in Government Services [73] Question: What factors could bias results within guidance ranges? - Factors include foreign exchange exposure, operational execution, and supply chain challenges impacting the S-92 [75][76] Question: What is the confidence level in renewing contracts at current market rates? - Management acknowledged risks but expressed optimism due to strong demand and limited supply [83][85] Question: How far in advance does the company typically negotiate new contracts? - Negotiation timelines vary, with some markets providing longer lead times than others, such as Norway [92]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________________________________ FORM 10-Q ________________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-35701 Bristow Group Inc. (Exact name of registra ...

Exhibit 99.1 PRESS RELEASE BRISTOW GROUP REPORTS FIRST QUARTER 2024 RESULTS AND ISSUES NEW FINANCIAL OUTLOOK Houston, Texas May 7, 2024 FOR IMMEDIATE RELEASE — Bristow Group Inc. (NYSE: VTOL) ("Bristow" or the "Company") today reported net income attributable to the Company of $6.6 million, or $0.23 per diluted share, for its quarter ended March 31, 2024 (the "Current Quarter") on operating revenues of $329.4 million compared to net loss attributable to the Company of $7.9 million, or $0.28 per diluted shar ...