Increased Financial Guidance
Bristow raised its 2025 adjusted EBITDA range to $240 million to $260 million and 2026 adjusted EBITDA guidance range to $300 million to $335 million, indicating strong growth expectations.
Strong Sequential Revenue Growth
Revenues increased by $25.9 million in Q2, driven by higher revenues in the Offshore Energy Services (OES) segment, government services, and other services.
Robust Cash Flow Generation
Operating cash flows increased by nearly $100 million from the preceding quarter and $38 million from the prior year, with improved working capital by $34 million.
Successful Debt Reduction and Share Repurchase
Accelerated debt paydown of $15.3 million on the UKSAR debt facility and repurchase of nearly 120,000 shares of common stock, with $121 million remaining under the $125 million stock repurchase program.
Positive Market Outlook
The Offshore Energy Services segment is expected to generate adjusted operating income of approximately $200 million to $205 million, with revenues of $980 million to $1 billion.