Bristow Group Reports 4.7% Revenue Growth to $376.4 Million for Q2 2025

Bristow Group Inc. reported a total revenue of $376.4 million for the three months ended June 30, 2025, marking an increase of 4.7% from $359.7 million in the same period last year. For the first half of the fiscal year, revenues rose to $727.0 million, up 4.3% from $696.8 million in the prior year. The company achieved a net income of $31.8 million for the quarter, compared to $28.2 million in the previous year, resulting in a basic earnings per share of $1.10, up from $0.99. For the six-month period, net income increased significantly to $59.2 million from $34.8 million, reflecting a 69.9% year-over-year growth.

The financial performance was bolstered by the Offshore Energy Services segment, which generated $252.8 million in revenue, a 5.4% increase from the previous year. The Government Services segment also saw a revenue increase of 16.5% to $92.5 million, driven by higher utilization rates. However, the Other Services segment reported a modest increase of 2.1% to $31.1 million. Operating income for the quarter was $42.6 million, slightly down from $44.8 million a year ago, primarily due to increased operating expenses, which rose to $340.2 million from $315.4 million.

In terms of operational developments, Bristow Group has expanded its strategic partnership with Vertical Aerospace to accelerate the deployment of electric vertical takeoff and landing (eVTOL) aircraft. This initiative aims to create a scalable operations platform that allows customers to adopt eVTOL services without significant infrastructure investment. Additionally, the company released its 2024 Sustainability Report, highlighting a 32% reduction in lost workdays and the rescue of 470 individuals by its UK Search and Rescue team.

Bristow's total assets increased to $2.29 billion as of June 30, 2025, up from $2.13 billion at the end of 2024. The company reported a cash balance of $251.8 million, with total liquidity of $316.5 million, including availability under its asset-backed revolving credit facility. The company has also committed to purchasing seven AW189 heavy helicopters and one AW139 medium helicopter, with total unfunded capital commitments of $128.5 million. Looking ahead, Bristow Group anticipates continued growth driven by its strategic initiatives and operational efficiencies, while also planning to initiate a quarterly cash dividend program beginning in the first quarter of 2026.