The chart below shows how VTOL performed 10 days before and after its earnings report, based on data from the past quarters. Typically, VTOL sees a -0.54% change in stock price 10 days leading up to the earnings, and a +11.77% change 10 days following the report. On the earnings day itself, the stock moves by +1.46%. This data can give you a slight idea of what to expect for the next quarter's release.
Positive
Adjusted EBITDA Guidance Increase: 1. Increased Adjusted EBITDA Guidance: Bristow raised its full-year 2024 adjusted EBITDA guidance to between $220 million and $230 million, reflecting positive demand trends and improved margins.
Operating Cash Flow Surge: 2. Significant Operating Cash Flow Growth: The company reported operating cash flows of $66 million for Q3 2024, a 96% increase compared to $34 million in the previous quarter.
Liquidity Strength: 3. Strong Liquidity Position: As of September 30, Bristow had available liquidity of $260 million, supporting its operational and investment needs.
African Region Success: 4. Positive Performance in Africa: The company noted that the African region has outperformed expectations, contributing to increased utilization and revenue growth.
Labor Agreement Success: 5. Successful Labor Agreement: Bristow finalized a multi-year collective bargaining agreement with its UK workforce, ensuring stability and support for future operations.
Negative
Adjusted EBITDA Decline: 1. Decline in Adjusted EBITDA: Bristow's adjusted EBITDA decreased to $60.2 million in Q3 2024 from $71.3 million in the previous quarter, indicating a significant decline in profitability.
Rising Operating Expenses: 2. Increased Operating Expenses: Operating expenses rose by $16.3 million in Q3 2024, primarily due to higher personnel costs and repairs, which could pressure future margins.
Americas Utilization Decline: 3. Lower Utilization in Americas: The Americas region experienced lower utilization, attributed to a change in accounting practices and the completion of a project in Suriname, negatively impacting revenue generation.
Increased Personnel Expenses: 4. Higher Operating Personnel Costs: Excluding seasonal and non-recurring items, operating personnel costs were $3 million higher in Q3 2024, reflecting increased headcount without corresponding revenue growth.
Supply Chain Disruptions: 5. Impact of Supply Chain Challenges: Ongoing supply chain issues continue to affect operations, with significant delays in parts delivery leading to idle aircraft, which could hinder service capacity and revenue.
Bristow Group, Inc. (VTOL) Q3 2024 Earnings Call Transcript
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