Bristow Group (BRS) Misses Q4 EPS by 67c, Offers Outlook

Bristow Group (NYSE: BRS) reported Q4 EPS of ($1.15), $0.67 worse than the analyst estimate of ($0.48). Revenue for the quarter came in at $323.65 million versus the consensus estimate of $326.16 million.

OUTLOOK

We expect fiscal year 2018 results to be impacted by the continued offshore oil and gas industry downturn. Industry conditions in the March 2017 quarter are expected to continue into fiscal year 2018. However, fiscal year 2018 results are expected to be better than our annualized fourth quarter fiscal year 2017 results as we anticipate sequential quarterly improvement beginning in the second half of fiscal year 2018 as new contracts commence.

Our liquidity of $357 million as of March 31, 2017 is expected to decrease during fiscal year 2018, but we expect liquidity as of March 31, 2018 to still be in excess of $200 million as a result of the net impact of previously announced capex eliminations/deferrals and financings and debt repayments.

Additionally, our focus on continued cost elimination, recovering costs from OEMs, and lower net capex should further improve liquidity. Guidance for selected financial measures will be provided in the investor slide presentation during tomorrow's conference call.

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

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