Bristow Group earnings date
Bristow Group (ERG1) Q3 2026 Earnings Report
DE:ERG1 Q3 2026 EPS Results
- Actual EPS
- EUR 0.83
- Consensus EPS
- EUR 1.03
- Beat/Miss
- Missed by -EUR 0.19
- One Year Ago EPS
- EUR 1.54
DE:ERG1 Q3 2026 Revenue Results
- Actual Revenue
- EUR 392.09M
- Expected Revenue
- EUR 396.87M
- Beat/Miss
- Missed by -EUR 4.77M
- YoY Revenue Growth
- +13.37%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/03/2026
- Time
- After Close
- Conference Call
- Tuesday, November 3, 2026
Bristow Group's next earnings date is estimated for March 3, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was predominantly positive. Bristow reported sequential revenue and Adjusted EBITDA growth, reaffirmed its approximately $310 million 2026 Adjusted EBITDA midpoint, expanded OES margins and guidance, maintained strong liquidity, continued shareholder returns and described favorable offshore energy market fundamentals. These positives outweighed the significant but explicitly identified supply chain disruptions, elevated government services penalties, delayed aircraft modifications and related costs. Management expects supply chain conditions to stabilize during 2027 and government services margins to recover over time.
Bristow reaffirmed its full-year 2026 Adjusted EBITDA guidance midpoint of approximately $310 million, reflecting year-over-year growth of approximately 25%; it raised 2026 OES adjusted operating income guidance to $240 million-$250 million, updated government services revenues guidance to $470 million-$490 million and adjusted operating income guidance to $35 million-$45 million, and affirmed other services revenues guidance of $155 million-$175 million and adjusted operating income guidance of $25 million-$30 million. Management expects supply chain issues to stabilize during 2027, with a more stabilized position by the end of Q1 2027, while some transition costs extend into early 2027 and margins on government SAR contracts are expected to recover over time; BSM is on track to perform for 2026, with growth expected to accelerate in the fourth quarter and 2027, and the new ERP is expected to go live in 2028 and deliver recurring savings of several million dollars a year once fully in place.
- Offshore Energy Services Margin ExpansionOES adjusted operating income increased by $2 million in Q3 despite revenue being $5.6 million lower. Lower total operating expenses of $8.3 million and lower general and administrative expenses of $1.1 million were primarily driven by lower North Sea utilization and lower global fuel prices. OES adjusted operating income margin reached 27%, compared with margins in the low teens when contract resets began toward the end of 2023.
- Higher OES Guidance and Contract ResetsBristow increased its 2026 OES adjusted operating income guidance range to $240 million-$250 million. OES contracts are now effectively fully reset, with the full-year impact of more recent rate adjustments expected in 2027.
- Government Services Revenue and Income Benefit from BSMGovernment services revenue increased by $17.8 million, primarily due to $16.9 million from BSM, while adjusted operating income increased by $2.5 million. U.K. search and rescue revenue increased by $1.6 million due to lower penalties and higher fuel revenues.
- Other Services GrowthOther services revenue increased by $14 million, including $9.2 million from BSM and $4.8 million from higher activity in Australia. Adjusted operating income increased by $7.4 million. The company affirmed 2026 guidance of $155 million-$175 million for revenue and $25 million-$30 million for adjusted operating income.
- Liquidity and Operating Cash Flow StrengthNet cash provided by operating activities increased by $20 million in Q3, while working capital improved by $17.7 million. As of September 2026, unrestricted cash was $233.4 million and total available liquidity was approximately $287 million.
- Shareholder Returns ContinuedBristow returned approximately $29 million to shareholders during the quarter, including $25 million of share repurchases and nearly $4 million in cash dividends. The company repurchased 550,000 shares at an average price of $45.64, with $96 million remaining under the repurchase program, and declared a quarterly dividend of $0.125 per share.
- Positive Offshore Energy Market FundamentalsManagement cited expected global oil and gas demand growth of more than 12% over the next 15 years. Offshore project final investment decisions are on pace to exceed $110 billion in 2026, up more than 60% from $70 billion in 2025, with approximately $144 billion expected in 2027, another 30% increase. Global floating-rig utilization is expected to reach 96% next year.
- Tight Helicopter Supply Supports OES OutlookEffective utilization rates for relevant heavy, super medium and medium helicopters remain at or near full utilization. Management said the combination of positive offshore energy fundamentals and tight helicopter supply represents more favorable industry conditions than seen in more than a dozen years.
- Fleet Positioned for Future DemandManagement described Bristow's fleet as competitive, with a balanced heavy and super medium mix, the largest operating fleet of AW139s in the medium category, and a new Airbus H160. Two AW189 aircraft remain in the order book, with one expected this month and the other in 2027. The company also has available S92s that can be moved from the North Sea to Africa and the Americas, and new super medium aircraft that have not yet contributed meaningfully to reported financials.
- ERP Modernization Expected to Generate SavingsBristow launched an initiative to replace its legacy ERP system, with the new system expected to go live in 2028. Management expects recurring savings of several million dollars annually once fully implemented, along with more modern finance processes, built-in AI and other capabilities intended to improve efficiency and decision-making.
- Strong Safety PerformanceBristow achieved zero air accidents through the first 10 months of 2026 and remained on track for a third consecutive year with fewer lost workdays.
- Supply Chain Mitigation and Customer ReliefBristow increased inventory, retained additional headcount, added overtime and a second hangar shift to address aircraft modification programs. The company also obtained some relief on availability issues in certain OES contract terms and secured a cap on government KPI penalties during the transition period expected to apply at least through Q1 2027.
- Adjusted EBITDA Guidance ReaffirmedThe company reaffirmed its 2026 Adjusted EBITDA guidance midpoint of approximately $310 million, representing year-over-year growth of approximately 25%, despite macro uncertainties and continued supply chain challenges.
- Scale and Diversification Provide ResilienceManagement said Bristow's customer, geographic and end-market diversity has helped offset supply chain impacts in weaker areas. The company also believes its scale, including being a major customer of suppliers, positions it favorably relative to the rest of the industry.
- Advanced Air Mobility PotentialManagement said advanced air mobility aircraft being developed with partners such as Electra, BETA and Elroy could provide a benefit once certified and operational because the designs have fewer working parts and are expected to have dramatically lower operating costs.
- Sequential Consolidated ImprovementThird-quarter total revenue increased by approximately $26 million compared with Q2, while Adjusted EBITDA increased by approximately $10 million. The company also tightened its guidance ranges for the remainder of 2026.
- Special Missions Acquisition Performing Ahead of ExpectationsBristow Special Mission contributed $16.9 million of government services revenue and $9.2 million of other services revenue in Q3 following the July acquisition. The business is on track for 2026, is expected to accelerate in Q4 and 2027, and its on-demand cargo business is performing above expectations. Management also cited opportunities in intelligence, surveillance and reconnaissance missions and troop movements.
DE:ERG1 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 03, 2027 | 2026 (Q4) | 0.80- | 0.55 | ― | ― |
| Nov 03, 2026 | 2026 (Q3) | 1.030.83 | 1.54 | -45.93% (-0.71) | |
| Aug 04, 2026 | 2026 (Q2) | 0.800.63 | 0.96 | -34.58% (-0.33) | |
| May 05, 2026 | 2026 (Q1) | 0.910.39 | 0.81 | -51.65% (-0.42) | |
| Feb 25, 2026 | 2025 (Q4) | 0.800.55 | 0.95 | -42.45% (-0.40) | |
| Nov 04, 2025 | 2025 (Q3) | 0.851.54 | 0.79 | 93.91% (+0.75) | |
| Aug 05, 2025 | 2025 (Q2) | 0.700.96 | 1.17 | -18.13% (-0.21) | |
| May 06, 2025 | 2025 (Q1) | 0.510.81 | 0.21 | 295.65% (+0.61) | |
| Feb 26, 2025 | 2024 (Q4) | 0.430.95 | 0.38 | 150.59% (+0.57) | |
| Nov 05, 2024 | 2024 (Q3) | 0.520.79 | 0.13 | 491.33% (+0.66) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
