BRS stock down
Nigerian In Law
Eastern Airways (owned by BRS) posted a loss too. A heavy one after the fairly healthy profit they previously enjoyed. It's a terrible environment; ask the pilots and engineers looking for jobs.
Sign of the times.
NEO
Sign of the times.
NEO
This is one Review....some reasonably good comments along with the bad news.
Bristow Group, Inc. :BRS-US: Earnings Analysis: 2017 By the Numbers : May 25, 2017 ? CapitalCube
Bristow Group, Inc. :BRS-US: Earnings Analysis: 2017 By the Numbers : May 25, 2017 ? CapitalCube
The company was founded in 1969 and is headquartered in Houston, TX.
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The plummeting revenue may substantiate the rumour in Bristow Norway last year that they also applied for chapter 11 protection in the USA like CHC but were rejected. Management saw this coming.
Not pretty, looks like their new chart in the investor presentations isn't doing any good:
Page 30...
http://phx.corporate-ir.net/External...R5cGU9MQ==&t=1
Market Cap very much < net asset FMV.....normally ripe for a takeover if anyone has the cojones. Reminds me of the time when I was there in the early part of this century when the Market Cap was less than the free cash on hand (with no significant debts and loads of assets at that time). The stock market is barmy at times.
Page 30...
http://phx.corporate-ir.net/External...R5cGU9MQ==&t=1
Market Cap very much < net asset FMV.....normally ripe for a takeover if anyone has the cojones. Reminds me of the time when I was there in the early part of this century when the Market Cap was less than the free cash on hand (with no significant debts and loads of assets at that time). The stock market is barmy at times.
Bristow continues to be negatively impacted by the H225 grounding in 5 ways: Increased operating cost; aircraft lease cost; idle aircraft capital cost; opportunity cost, i.e., forgone revenue and profit; and residual value loss.
Or maybe they can't pick the bones out of this and with little visibility on this they find little reason to stand in the way of the downward pressure on the stock.
The stock market is barmy at times..
Bristow continues to be negatively impacted by the H225 grounding in 5 ways: Increased operating cost; aircraft lease cost; idle aircraft capital cost; opportunity cost, i.e., forgone revenue and profit; and residual value loss.
Not my words but those of the CEO on the earnings call. Without obvious positive catalysts why would you invest? The issues that surround the 225 and the lack of visibility either to the fix, return to service and associated cost certainly do not fall into anything remotely positive.