--- title: "Bristow | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 411.76 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294873959.md" datetime: "2026-08-04T21:13:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294873959.md) - [en](https://longbridge.com/en/news/294873959.md) - [zh-HK](https://longbridge.com/zh-HK/news/294873959.md) --- # Bristow | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 411.76 M Revenue: As of FY2026 Q2, the actual value is USD 411.76 M, beating the estimate of USD 407.97 M. EPS: As of FY2026 Q2, the actual value is USD 0.7, missing the estimate of USD 0.85. EBIT: As of FY2026 Q2, the actual value is USD 48.93 M. ### Financial Highlights for Q2 2026 (Three Months Ended June 30, 2026) Bristow Group Inc. reported total revenues of $412 million in Q2 2026, an increase of $23.1 million compared to $389 million in the preceding quarter (Q1 2026). #### Adjusted EBITDA Adjusted EBITDA for Q2 2026 was $80 million, which is $20.5 million higher than the $59 million reported in Q1 2026. The Adjusted EBITDA margin was 19% in Q2 2026, up from 15% in Q1 2026. #### Net Cash Provided by Operating Activities Net cash provided by operating activities was $41.1 million in Q2 2026, a significant improvement from net cash used by operating activities of - $8.3 million in the preceding quarter. #### Adjusted Free Cash Flow Adjusted Free Cash Flows were $35.807 million in Q2 2026, compared to - $11.766 million in Q1 2026, representing an increase of $47.6 million. #### Dividends Bristow Group Inc. paid $3.7 million in dividends during Q2 2026. The company declared a cash dividend of $0.125 per share of common stock, payable on August 28, 2026. #### Segment Revenue - **Offshore Energy Services (OES)**: Revenues were $262 million in Q2 2026, an increase of $7.3 million from $254 million in Q1 2026, driven by higher rates and fuel revenues in Europe ($5.9 million higher) and the Americas ($1.2 million higher). - **Government Services**: Revenues reached $112 million in Q2 2026, up $4.4 million from $108 million in Q1 2026, mainly due to higher UKSAR revenues ($1.6 million), increased Irish Coast Guard (IRCG) revenues ($1.5 million), and higher utilization in the U.S. ($1.0 million). - **Other Services**: Revenues were $38 million in Q2 2026, an increase of $11.4 million from $27 million in Q1 2026, primarily due to higher seasonal utilization and fuel revenues. #### Adjusted Operating Income by Segment - **Offshore Energy Services (OES)**: Adjusted Operating Income was $67 million in Q2 2026, an increase of $16.4 million from $50 million in Q1 2026, attributed to higher revenues, lower operating expenses of $4.3 million, and higher earnings from consolidated affiliates of $2.2 million. - **Government Services**: Adjusted Operating Income was $7 million in Q2 2026, a decrease of - $2.3 million from $10 million in Q1 2026, primarily due to higher operating expenses of $6.1 million, partially offset by increased revenues. The operating income margin was negatively impacted by $3.6 million in penalties related to aircraft availability and $1.5 million in fuel expenses exceeding fuel revenues. - **Other Services**: Adjusted Operating Income was $5 million in Q2 2026, an increase of $4.2 million from $1 million in Q1 2026, due to higher seasonal revenues, partially offset by higher operating expenses of $7.7 million related to increased activity and fuel prices. ### Balance Sheet (as of June 30, 2026) - Cash: $314 million. - Total Debt: $765 million. - Unrestricted Cash: $312 million. - Net Debt: $453 million. - Unfunded capital commitments: $58.8 million, primarily for aircraft purchases. - Total liquidity: $371.6 million. ### Operational Metrics - Global Employees: 3,601. - Total Aircraft Fleet: 218 as of June 30, 2026. ### Unique Metrics: Acquisition Bristow Group Inc. completed the acquisition of Berry Aviation Inc. on July 13, 2026, for $105.0 million in an all-cash transaction. This acquisition is expected to enhance the company’s Government Services offerings and support a more diversified business profile. ### Outlook / Guidance for 2026E Bristow Group Inc. affirmed its 2026E Adjusted EBITDA outlook range of $295 million to $325 million and updated its 2026E total revenue guidance to a range of $1,640 million to $1,720 million. Segment revenue guidance is provided for Offshore Energy Services ($1,010 million - $1,050 million), Government Services ($475 million - $495 million), and Other Services ($155 million - $175 million). The outlook also includes projected cash interest of approximately $45 million, cash taxes between $25 million and $30 million, and maintenance capital expenditures of $25 million to $30 million. ### Related Stocks - [VTOL.US](https://longbridge.com/en/quote/VTOL.US.md) ## Related News & Research - [Bristow Group (VTOL) Dividend Holds Attention As Fair Value Narrative Stays In Focus](https://longbridge.com/en/news/294815204.md) - [BRISTOW GROUP REPORTS SECOND QUARTER 2026 RESULTS](https://longbridge.com/en/news/294867916.md) - [Bristow Group agrees to buy Berry Aviation for $105 million cash](https://longbridge.com/en/news/291005949.md) - [Evercore ISI Sticks to Its Buy Rating for Bristow Group (VTOL)](https://longbridge.com/en/news/285578316.md) - [Top Brass at Bristow Group Quietly Cashes In on Major Stock Sale](https://longbridge.com/en/news/277717947.md)