Quarterly ResultMay 6, 2026, 06:09 AM
Bristow Group Q1 Net Income -52.1% to $13.1M; Revenue +10.9% to $388.7M
AI Summary
Bristow Group Inc. reported a significant decrease in net income and diluted EPS for the three months ended March 31, 2026, despite a 10.9% increase in total revenues to $388.7 million. Net income attributable to the company fell 52.1% to $13.1 million, and diluted EPS dropped to $0.44. This decline was partly due to a $2.8 million loss on extinguishment of debt from refinancing its 6.875% Senior Notes with new 6.750% Senior Secured Notes, and an additional $6.4 million in depreciation expense following a change in the estimated useful life of S76D helicopters.
Key Highlights
- Net income attributable to Bristow Group Inc. decreased by 52.1% to $13.1 million for Q1 2026.
- Total revenues increased by 10.9% to $388.7 million for the three months ended March 31, 2026.
- Diluted earnings per common share decreased by 52.2% to $0.44.
- The company issued $500 million of 6.750% Senior Secured Notes due 2033, redeeming 6.875% Senior Notes.
- A $2.8 million loss on extinguishment of debt was recognized in connection with the refinancing.
- Revised estimated useful life for S76D helicopters resulted in $6.4 million additional depreciation expense.
- Offshore Energy Services revenue grew 6.1% to $254.3 million.
- Government Services revenue increased 25.5% to $107.9 million.
Price Impact
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