What guidance did Bristow's management provide for the next earnings period?

What were the key takeaways from Bristow’s earnings call?

What does Bristow do and what are its main business segments?

What is Bristow's gross profit margin?

What is the revenue and EPS growth rate for Bristow year over year?

What is Bristow's latest dividend and current dividend yield?

What is the market's earnings forecast for Bristow next quarter?

What were the key takeaways from Bristow's earnings call?

- **2026 Growth Target**: 27% EBITDA increase to $270 million midpoint, driven by OES ($225-235M) and doubling Government Services margins. 
- **Market Dynamics**: Brazil/Africa growth vs. North Sea stability; 85% OES revenue from production support. 
- **Supply Chain Challenges**: 24-month AW189 production lead times, parts delays impacting availability. 
- **Innovation**: Testing all-electric aircraft in Norway; first commercial deployment expected 2027-2028. 
- **Financial Health**: $246M cash, $313M liquidity; $140M free cash flow projected for 2026.

**【CEO Summary Section】**
- Reported Q3 2025 adjusted EBITDA of $67.1 million, with 2026 midpoint EBITDA guidance at $270 million (27% YoY growth). 
- Offshore Energy Services (OES) segment expected to grow to $225-235 million in 2026 (+15% YoY), driven by stable production support activity in Brazil, Africa, and the Caribbean. 
- Government Services segment to nearly double adjusted operating income in 2026 as new contracts reach full operational run rate. 
- Highlighted supply chain challenges impacting aircraft availability and causing $40 million in accelerated debt payments for UK SAR contracts.

**【CFO Financial Commentary】**
- Q3 2025 total revenue increased $9.9 million sequentially, with OES segment down $2.4 million due to lower utilization in Europe/Africa offset by higher activity in Americas. 
- Tightened 2025 EBITDA guidance to $240-250 million and 2026 guidance to $295-325 million. 
- Vendor credits contributed $9.3 million to cost savings, with higher activity expected to sustain this trend. 
- Operating cash flow of $122 million YTD, with working capital impacted by inventory builds for new contracts.

**【Q&A Key Highlights】**
- **OES Market Outlook**: Brazil, Africa, and Caribbean showing growth; North Sea stable but mature. 
- **Aircraft Deliveries**: 5 government-configured aircraft undergoing final mods; 7 offshore AW189s on order for Brazil, Africa, and North Sea. 
- **Supply Chain**: Aftermarket parts delays persist, with AW189 production line delays expected. 
- **Advanced Mobility**: Testing Beta Technologies' all-electric CX300 in Norway; first commercial deployment likely 2027-2028. 
- **Tax Rate**: Normalized rate expected as Australian operation profitability improves, with one-time tax benefit in Q3.

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