VTOL - Bristow Group reports Q3 earnings miss; updates FY23 outlook

2023-03-09 02:27:20 ET

• Bristow Group press release ( NYSE: VTOL ): Q3 GAAP EPS of -$0.25 misses by $0.51 .
• Revenue of $304.34M (+3.0% Y/Y) misses by $18.01M .
• EBITDA adjusted to exclude special items, asset dispositions and foreign exchange gains was $36.3M for the quarter ended December 31, 2022 compared to $33.9M for the quarter ended September 30, 2022.
• As of December 31, 2022, unrestricted cash balance was $160.0M with total liquidity of $239.7M.
• Updated 2023E financial guidance includes higher Adjusted EBITDA range of $150M - $170M; Total operating revenues of $1,200M - $1,310M vs. consensus of $1.24B; Total capital expenditures of $95M - $105M.

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