Bristow Group Inc. reported a total revenue of $1.49 billion for the fiscal year ending December 31, 2025, marking a 5.3% increase from $1.42 billion in the previous year. The company's net income rose to $129.1 million, a 36.4% increase compared to $94.9 million in 2024. This growth was primarily driven by a 2.5% increase in revenues from the Offshore Energy Services segment, which accounted for approximately 66% of total revenues, and a significant 15.1% increase in Government Services revenues, which represented 26% of total revenues. The Other Services segment remained stable, contributing 8% to total revenues.
In terms of operational performance, Bristow's Offshore Energy Services segment saw a revenue increase of $24.4 million, with notable growth in Africa and the Americas, attributed to higher utilization rates. However, the European market experienced a decline in revenue due to lower utilization. The Government Services segment's revenue growth was largely due to the commencement of the Irish Coast Guard contract, which is expected to enhance cash flow stability over the next decade. Despite the overall revenue growth, the Government Services segment's operating income decreased significantly, primarily due to increased costs associated with new contracts.
Bristow's strategic developments included the initiation of a quarterly cash dividend program, with a declared dividend of $0.125 per share, and the successful closing of a $500 million offering of 6.750% Senior Secured Notes due 2033. The company also made strides in electric aviation, completing its first electric aviation test project in Norway and securing delivery slots for five hybrid-electric aircraft from Electra.aero. These initiatives reflect Bristow's commitment to diversifying its service offerings and investing in sustainable aviation technologies.
As of December 31, 2025, Bristow employed approximately 3,660 individuals, including 961 pilots and 902 engineers. The company operates a fleet of 214 aircraft across 46 bases globally, with significant operations in the U.S., UK, and Nigeria. The company’s liquidity position remains strong, with $286.2 million in unrestricted cash and $60.7 million available under its asset-based revolving credit facility. Looking ahead, Bristow anticipates continued growth in offshore energy services and government contracts, although it remains cautious about potential supply chain disruptions and market fluctuations that could impact operational performance.
About Bristow Group Inc.
Bristow Group Inc. is a global provider of vertical flight aviation services, specializing in personnel transportation, search and rescue (SAR), medevac, fixed wing transport, unmanned systems, and helicopter leasing. Serving offshore energy companies and government agencies across multiple regions, including the U.S., UK, Brazil, and Nigeria, Bristow offers long-term contracts and technical expertise. Its business model emphasizes safety, operational excellence, and sustainable aviation solutions.
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