Bristow Group (BRS) Misses Q4 EPS by 33c, FY16 EPS Guidance Misses

May 20, 2015 5:08 PM

Bristow Group (NYSE: BRS) reported Q4 EPS of $0.91, $0.33 worse than the analyst estimate of $1.24. Revenue for the quarter came in at $418.9 million versus the consensus estimate of $465.55 million.

Bristow Group sees FY2016 EPS of $3.90-$4.40, versus the consensus of $4.83.

GUIDANCE

"Our fiscal year 2015 earnings performance was materially impacted by the strength of the U.S. dollar, which reduced our adjusted earnings per share by $0.88, the majority of which came from the weakness in the Brazilian real and is non-cash. A large portion of the negative impact occurred in the fourth fiscal quarter," said John Briscoe, Senior Vice President and Chief Financial Officer of Bristow Group. "We generated very strong and improving operating cash flow and also created value for our shareholders by delivering $100 million of BVA during fiscal 2015. Impacts from the oil and gas downturn materialized in our fourth quarter; however good cost control resulted in a sequential improvement in adjusted EBITDAR margin for the quarter."

Today, we are announcing our adjusted diluted earnings per share guidance range for fiscal year 2016 of $3.90 to $4.40.

"The fiscal 2016 energy industry environment is presenting more challenges and uncertainties for the oil and gas portion of our business and impacts our full year adjusted EPS guidance range. However, our business model, which is strongly tied to offshore production combined with the start-up of the U.K. SAR contract and our growing fixed-wing operations, supports our expectation of average adjusted earnings growth of 10%-15% per year over the medium and long term," added Mr. Briscoe

For earnings history and earnings-related data on Bristow Group (BRS) click here.

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