Bristow Group Reports Net Loss In Q1, 2021

Bristow Group Reports Third Quarter Fiscal Year 2021 Results

Yemisi Izuora

Bristow Group Inc. has reported net loss attributable to the Company of $14.2 million, or $0.50 per diluted share, for its fiscal first quarter ended June 30, 2021 on operating revenues of $288.4 million compared to net loss attributable to the Company of $42.6 million, or $1.47 per diluted share, in the quarter ended March 31, 2021 (“preceding quarter”) on operating revenues of $281.5 million.

Earnings before interest, taxes, depreciation and amortization,  EBITDA, was $14.8 million in the current quarter compared to $32.2 million in the preceding quarter.  EBITDA adjusted to exclude special items and gains or losses on asset dispositions was $40.0 million in the current quarter compared to $30.5 million in the preceding quarter.

The following table provides a bridge between EBITDA, Adjusted EBITDA and Adjusted EBITDA excluding gains or losses on asset dispositions. See Reconciliation of Non-GAAP Metrics for a reconciliation of net income, the most directly comparable GAAP measure, to EBITDA and Adjusted EBITDA.

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