Bristow Q2 Adjusted EBITDA beats estimates

Overview

• Bristow Q2 2025 revenue of $376.4 mln missed analyst expectations

• Adjusted EBITDA of $60.7 mln beat estimates, per LSEG data

• Co raises 2025 and 2026 Adjusted EBITDA outlook

• Co initiates debt payments and share repurchases

Outlook

• Bristow raises 2025 Adjusted EBITDA outlook to $240-$260 mln

• Bristow raises 2026 Adjusted EBITDA outlook to $300-$335 mln

• Company expects 2025 total revenue of $1.46 bln to $1.56 bln

• Company projects 2026 total revenue at $1.62 bln to $1.74 bln

Result Drivers

• OFFSHORE ENERGY SERVICES - Revenue growth driven by higher utilization and favorable foreign exchange impacts, particularly in Norway

• GOVERNMENT SERVICES - Revenue increase attributed to the transition of the Irish Coast Guard contract and higher utilization in United Kingdom Search and Rescue contract

• OTHER SERVICES - Seasonal higher utilization in Australia contributed to revenue growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the airlines peer group is "buy"

• Wall Street's median 12-month price target for Bristow Group Inc is $48.50, about 30% above its August 4 closing price of $33.93

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: