Bristow Group Inc
NYSE:VTOL
Bristow Group Inc
Bristow Group, Inc. provides offshore oil and gas transportation, and search and rescue and aircraft support services to government and civil organizations. The company is headquartered in Houston, Texas and currently employs 3,167 full-time employees. The company went IPO on 2013-01-22. The firm provides aviation services to the oil and gas companies, and commercial, public and private sector search and rescue (SAR) services. The firm also offers fixed-wing transportation and other aviation related solutions. The firm's helicopters transport personnel to, from and between offshore oil and gas production platforms, drilling rigs and other installations. The company owns a range of classes of helicopters, such as heavy helicopters, medium helicopters and light helicopters. Heavy helicopters have twin engines and passenger capacity ranging from 16 to 19. Medium helicopters have twin engines and passenger capacity ranging from 11 to 12. Light helicopters have single or twin engines and a typical passenger capacity of four to seven. Its total fleet consists of approximately 256 aircraft, of which 240 were helicopters.
Bristow Group, Inc. provides offshore oil and gas transportation, and search and rescue and aircraft support services to government and civil organizations. The company is headquartered in Houston, Texas and currently employs 3,167 full-time employees. The company went IPO on 2013-01-22. The firm provides aviation services to the oil and gas companies, and commercial, public and private sector search and rescue (SAR) services. The firm also offers fixed-wing transportation and other aviation related solutions. The firm's helicopters transport personnel to, from and between offshore oil and gas production platforms, drilling rigs and other installations. The company owns a range of classes of helicopters, such as heavy helicopters, medium helicopters and light helicopters. Heavy helicopters have twin engines and passenger capacity ranging from 16 to 19. Medium helicopters have twin engines and passenger capacity ranging from 11 to 12. Light helicopters have single or twin engines and a typical passenger capacity of four to seven. Its total fleet consists of approximately 256 aircraft, of which 240 were helicopters.
Strong 2025 Results: Bristow reported adjusted EBITDA of $246 million for 2025, up about 4% from last year and in line with guidance.
Guidance Affirmed: Management reaffirmed 2026 guidance, expecting total revenues of $1.6–$1.7 billion and adjusted EBITDA of $295–$325 million, implying roughly 25% EBITDA growth.
OES Contract Renewals: About 50% of Offshore Energy Services contracts have renewed, with leading-edge rates up ~25% over legacy contracts, driving a projected 15% increase in adjusted operating income for the segment in 2026.
Government Services Growth: Adjusted operating income from Government Services is expected to roughly double in 2026 as new contracts in Ireland and the UK ramp up.
Balance Sheet Improved: Bristow completed a $500 million refinancing at a lower 6.75% coupon and no near-term maturities, increasing liquidity and supporting a new $0.125/share dividend.
Cash Flow & Liquidity: Operating cash flow was $198 million in 2025, with unrestricted cash of $286 million at year-end; strong cash flow is expected to continue.
Advanced Air Mobility Progress: Bristow completed its first electric aviation project in Norway and secured initial delivery slots for new hybrid-electric aircraft, targeting future growth in this area.
