Company profile

Ticker
VTOL
Exchange
CEO
Christopher S. Bradshaw
Employees
Incorporated in
Location
Fiscal year end
Former names
Offshore Logistics Inc
SEC CIK
IRS number
720679819

VTOL stock data

(
)

Calendar

27 Dec 19
5 Jul 20
31 Mar 21

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 318.22M 333.18M 323.79M 329.86M
Net income -162.97M -169.25M -75.34M -85.7M
Diluted EPS -4.54 -4.71 -2.1 -2.39
Net profit margin -51.21% -50.80% -23.27% -25.98%
Net change in cash -18.65M -5.52M -53.27M -76.47M
Cash on hand 153.89M 172.53M 178.06M 231.33M
Cost of revenue
Annual (USD) Mar 19 Mar 18 Mar 17 Mar 16
Revenue 1.37B 1.43B 1.39B 1.72B
Net income -336.85M -194.68M -169.56M -72.44M
Diluted EPS -9.42 -5.52 -4.84 -2.12
Net profit margin -24.59% -13.58% -12.22% -4.22%
Net change in cash -202.17M 283.57M -7.65M 164K
Cash on hand 178.06M 380.22M 96.66M 104.31M
Cost of revenue 1.14B 1.18B 1.15B 1.31B

Financial data from Bristow earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
31 Dec 19 Mickelson George Mark Director Stock Option Common Stock Grant Aquire A No 15.43 2,592 39.99K 2,592
31 Dec 19 Mickelson George Mark RSU Common Stock Grant Aquire A No 0 1,023 0 1,023
31 Dec 19 Mickelson George Mark RSU Preferred Stock Grant Aquire A No 0 627 0 627
17 Dec 19 Hooman Yazhari Director Stock Option Common Stock Grant Aquire A No 36.37 18,665 678.85K 18,665
17 Dec 19 Hooman Yazhari RSU Preferred Stock Grant Aquire A No 0 4,514 0 4,514
17 Dec 19 Hooman Yazhari RSU Common Stock Grant Aquire A No 0 7,364 0 7,364
17 Dec 19 Truelove Brian D. Director Stock Option Common Stock Grant Aquire A No 36.37 9,721 353.55K 9,721
17 Dec 19 Manzo Robert RSU Common Stock Grant Aquire A No 0 3,836 0 3,836
17 Dec 19 Truelove Brian D. RSU Common Stock Grant Aquire A No 0 3,836 0 3,836
17 Dec 19 Mickelson George Mark Director Stock Option Common Stock Grant Aquire A No 36.37 19,443 707.14K 19,443
13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Largest transactions
Shares Bought/sold Change

Financial report summary

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Competition
MissionVisionVision
Risks
  • Risks Related to Our Chapter 11 Cases
  • On May 11, 2019, Bristow Group Inc. and certain of its subsidiaries filed voluntary petitions commencing the Chapter 11 Cases under the Bankruptcy Code. The Chapter 11 Cases and the Restructuring may have a material adverse impact on our business, financial condition, results of operations, and cash flows. In addition, the Chapter 11 Cases and the Restructuring may have a material adverse impact on the trading price, and the Amended Plan will result in the cancellation and discharge of our securities, including our common stock. The Amended Plan governs distributions to and the recoveries of holders of our securities.
  • Delays in the Chapter 11 Cases may increase the risks of our being unable to reorganize our business and emerge from bankruptcy and increase our costs associated with the bankruptcy process.
  • Trading in our common stock during the pendency of our Chapter 11 Cases is highly speculative and poses substantial risks.
  • The Second Amended RSA is subject to significant conditions and milestones that may be difficult for us to satisfy.
  • Even if the Amended Plan or another Chapter 11 plan of reorganization is consummated, we may not be able to achieve our stated goals.
  • Our long-term liquidity requirements and the adequacy of our capital resources are difficult to predict at this time.
  • In certain limited instances, a Chapter 11 case may be converted to a case under Chapter 7 of the Bankruptcy Code.
  • As a result of the Chapter 11 Cases, our historical financial information may not be indicative of our future performance, which may be volatile.
  • We may be subject to claims that will not be discharged in the Chapter 11 Cases, which could have a material adverse effect on our financial condition and results of operations.
  • We may experience employee attrition as a result of the Chapter 11 Cases.
  • The demand for our services is substantially dependent on the level of offshore oil and gas exploration, development and production activity.
  • A focus by our customers on cost-saving measures rather than quality of service, which is how we differentiate ourselves from competition, could reduce the demand for our services.
  • Our industry is highly competitive and cyclical, with intense price competition.
  • We depend on a small number of large offshore energy industry customers for a significant portion of our revenue.
  • Our contracts often can be terminated or downsized by our customers without penalty.
  • Our U.K. SAR contract can be terminated and is subject to certain other rights of the DfT.
  • Our customers may shift risk to us.
  • We may not be able to obtain client contracts with acceptable terms covering some of our new helicopters, and some of our new helicopters may replace existing helicopters already under contract, which could adversely affect the utilization of our existing fleet.
  • Reductions in spending on industrial aviation services by government agencies could lead to modifications of SAR contract terms or delays in receiving payments, which could adversely impact our business, financial condition and results of operations.
  • Our fixed operating expenses and long-term contracts with customers could adversely affect our business under certain circumstances.
  • The consolidated financial statements included in this Annual Report on Form 10-K for the fiscal year ended March 31, 2019 contain disclosures that express substantial doubt about our ability to continue as a going concern.
  • Our common stock has been delisted from the New York Stock Exchange.
  • If certain transactions occur with respect to our capital stock, limitations may be imposed on our ability to utilize net operating loss carryforwards to reduce our income taxes.
  • In order to support our business, we may require additional capital in the future that may not be available to us.
  • The vote by the United Kingdom to leave the E.U. could adversely affect us.
  • We may undertake one or more significant corporate transactions that may not achieve their intended results, may adversely affect our financial condition and our results of operations or result in unforeseeable risks to our business.
  • Changes in the method of determining the London Interbank Offered Rate (LIBOR), or the replacement of LIBOR with an alternative reference rate, may adversely affect interest rates.
  • Our operations involve a degree of inherent risk that may not be covered by our insurance and may increase our operating costs.
  • Failure to maintain standards of acceptable safety performance may have an adverse impact on our ability to attract and retain customers and could adversely impact our reputation, operations and financial performance.
  • Our diversification efforts into other industrial aviation services such as fixed wing, SAR, and unmanned aerial vehicle services may prove unsuccessful.
  • Our operations in certain regions of the world are subject to additional risks.
  • We are highly dependent upon the level of activity in the North Sea and to a lesser extent the U.S. Gulf of Mexico, which are mature exploration and production regions.
  • We are exposed to credit risk of our counterparties.
  • Our failure to dispose of aircraft through sales into the aftermarket could adversely affect us.
  • Changes in effective tax rates, taxation of our foreign subsidiaries or adverse outcomes resulting from examination of our tax returns could adversely affect our business, financial condition and results of operations.
  • If our goodwill, intangible assets or investments in unconsolidated affiliates become impaired we may be required to record a significant charge to earnings.
  • Foreign exchange risks and controls may affect our financial position and results of operations.
  • Our dependence on a small number of helicopter manufacturers and lessors poses a significant risk to our business and prospects, including when we seek to grow our business.
  • A shortfall in availability of aircraft components and parts required for maintenance and repairs of our helicopter and fixed wing aircraft and supplier cost increases could adversely affect us.
  • Our future growth depends significantly on the level of international oil and gas activity and our ability to operate outside of the North Sea and the U.S. Gulf of Mexico.
  • Our failure to attract and retain qualified personnel could have an adverse effect on us.
  • Labor problems could adversely affect us.
  • Our operations are subject to weather-related and seasonal fluctuations.
  • Failure to develop or implement new technologies could affect our results of operations.
  • We are increasingly dependent on information technology, and if we are unable to protect against service interruptions, data corruption, cyber attacks or network security breaches, our operations could be disrupted and our business could be negatively impacted.
  • Our business is subject to complex and evolving U.S. and foreign laws and regulations regarding privacy and data protection.
  • We operate in many international areas through entities that we do not control and are subject to government regulation that limits foreign ownership of aircraft companies in favor of domestic ownership.
  • We are subject to legal compliance risks.
  • Actions taken by agencies empowered to enforce governmental regulations could increase our costs and reduce our ability to operate successfully.
  • Adverse results of legal proceedings could materially and adversely affect our business, financial condition and results of operations.
  • Negative publicity may adversely impact us.
  • Environmental regulations and liabilities may increase our costs and adversely affect us.
  • Regulations limit foreign ownership of our company, which could reduce the price of our common stock and cause owners of our common stock who are not U.S. persons to lose their voting rights.
  • If we do not restrict the amount of foreign ownership of our common stock, we might lose our status as a U.S. air carrier and be prohibited from operating aircraft in the U.S., which could adversely impact our business, financial condition and results of operations.
Management Discussion
  • Management believes that adjusted EBITDA, adjusted benefit for income taxes, adjusted net loss and adjusted diluted loss per share (collectively, the “Non-GAAP measures”) provide relevant and useful information, which is widely used by analysts, investors and competitors in our industry as well as by our management in assessing both consolidated and regional performance.
  • Adjusted EBITDA provides us with an understanding of one aspect of earnings before the impact of investing and financing transactions and income taxes. Adjusted EBITDA should not be considered a measure of discretionary cash available to us for investing in the growth of our business.
  • Adjusted net loss and adjusted diluted loss per share present our consolidated results excluding asset dispositions and special items that do not reflect the ordinary earnings of our operations. Adjusted benefit (provision) for income taxes excludes the tax impact of these items. We believe that these measures are useful supplemental measures because net loss and diluted loss per share include asset disposition effects and special items and benefit (provision) for income taxes include the tax impact of these items, and inclusion of these items does not reflect the ongoing operational earnings of our business.
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