Bristow Provides Higher FY24 Outlook - Bristow Group (NYSE:VTOL)

Bristow Group Inc (NYSE:VTOL) disclosed the financial guidance for FY24.

The company expects an operating revenues range of around $1.295 billion - $1.465 billion (+10% vs. 2023 guidance) compared to the consensus of $1.43 billion.

The company expects an adjusted EBITDA (excluding asset dispositions and foreign exchange losses/gains) of around $190 million-$220 million (+25% vs. 2023 outlook).

Bristow's 2023 guidance for operating revenues remains unchanged at $1.20 billion-$1.31 billion (consensus $1.36 billion) and adjusted EBITDA (excluding asset dispositions and foreign exchange losses/gains) at $150 million-$170 million.

Bristow expects operating revenues from Offshore energy services of $850 million - $970 million and Government services of $340 million - $365 million in FY24.

Last month, the company reported Q1 2023 revenues of $302.0 million, missing the consensus of $328.1 million, and an EPS loss of $(0.05), missing the consensus of EPS of $0.56.

Price Action: VTOL shares closed higher by 1.42% at $26.37 on Tuesday.

VTOLBristow Group Inc

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