Bristow(US:VTOL) Prnewswireยท2025-08-05 20:30Core Insights - Bristow Group Inc. reported a net income of $31.7 million, or $1.07 per diluted share, for Q2 2025, an increase from $27.4 million, or $0.92 per diluted share, in Q1 2025, with total revenues rising to $376.4 million from $350.5 million [1][6][25]. Financial Performance - Total revenues for Q2 2025 were $376.4 million, up 7.4% from $350.5 million in Q1 2025 [6][25]. - Operating income increased to $42.6 million in Q2 2025 from $33.5 million in Q1 2025 [3][25]. - Adjusted EBITDA for Q2 2025 was $60.7 million, compared to $57.7 million in Q1 2025 [6][25]. Segment Performance - Offshore Energy Services revenues rose to $252.8 million in Q2 2025, a 5.4% increase from $239.8 million in Q1 2025, with operating income up 16.7% to $43.6 million [4][28]. - Government Services revenues increased to $92.5 million, a 7.6% rise from $85.9 million in Q1 2025, but the segment reported an operating loss of $1.9 million [8][28]. - Other Services saw revenues grow by 25.5% to $31.1 million, with operating income improving significantly to $3.4 million from a loss of $0.6 million in Q1 2025 [9][28]. Guidance and Capital Allocation - The company raised its 2025 Adjusted EBITDA guidance to a range of $240-$260 million and for 2026 to $300-$335 million [4][6]. - Bristow initiated accelerated debt payments of $15.3 million and repurchased 119,841 shares for $3.9 million during the quarter [15][6]. Liquidity and Cash Flow - As of June 30, 2025, Bristow had $251.8 million in unrestricted cash and $64.7 million available under its asset-based revolving credit facility, totaling $316.5 million in liquidity [17][30]. - The company reported net cash provided by operating activities of $99.0 million in Q2 2025, compared to a cash outflow of $0.6 million in Q1 2025 [3][6].