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BRS stock crashing

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Old 14th Mar 2019, 12:49
  #181 (permalink)  
 
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I agree with Phone Wind. What the hell happened to "I earn X, so I spend Y". 2 of the biggest helicopter operators in the world have trashed their finances during a time over the last 15 years when it was not difficult to make a profit. Granted the last few years have been hard but where did all that money go that was earned while the sun was shining?
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Old 14th Mar 2019, 12:57
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Originally Posted by Phone Wind

I’m just a poor old retired dinosaur, but my other half is involved in investigating fraudulent bean counters and when I mentioned this to her, she told me that a lot of failing businesses focus on highlighting EBITDA because it minimizes the impact of factors outside of their scope of control and focuses only on what can be controlled.
That's true and compounded with the fixation on ROCE. I remember being at Houston Towers budget planning sessions back in about 2004. It came in with BC and whoever his CFO was at the time (can't remember). I generally got on well with BC and had a lot of time for him but that was one that caused me some pain. The easiest way to get a high ROCE is to keep the CE down by leasing (then not recognised on Balance Sheets) or flogging on old 332L's & S61's rather than investing in new tech.

Ironically, by the time the rates supported the new tech that new strategy backfired by keeping more expensive assets on the B/S than our major competitor who took advantage at the downturn and EC225 groundings through Ch11 lease walk-aways.
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Old 28th Mar 2019, 13:14
  #183 (permalink)  
 
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Old 28th Mar 2019, 13:39
  #184 (permalink)  
 
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Someone is being a very naughty boy!



Shame there is no "Like" feature. here at Rotorheads!


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Old 28th Mar 2019, 14:31
  #185 (permalink)  
 
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Originally Posted by Non-Driver
If there is a turnround to happen, you could make a killing at the current price.....

on the other hand....
150% return in 13 days for anyone brave/foolish enough
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Old 28th Mar 2019, 14:33
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So the new CEO used to work at Enron - what could possibly go wrong.
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Old 3rd Apr 2019, 12:21
  #187 (permalink)  
 
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Originally Posted by DOUBLE BOGEY
I agree with Phone Wind. What the hell happened to "I earn X, so I spend Y". 2 of the biggest helicopter operators in the world have trashed their finances during a time over the last 15 years when it was not difficult to make a profit. Granted the last few years have been hard but where did all that money go that was earned while the sun was shining?
We need a LIKE button on here!
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Old 3rd Apr 2019, 13:13
  #188 (permalink)  
 
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Originally Posted by DOUBLE BOGEY
I agree with Phone Wind. What the hell happened to "I earn X, so I spend Y". 2 of the biggest helicopter operators in the world have trashed their finances during a time over the last 15 years when it was not difficult to make a profit. Granted the last few years have been hard but where did all that money go that was earned while the sun was shining?
The hugely expensive and opulent corporate office in Houston would certainly have accounted for a fair proportion of Bristow's revenue.
Senior management seem to think that Bristow was a multi billion $ international airline and spent accordingly.
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Old 16th Apr 2019, 06:44
  #189 (permalink)  
 
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I see the stock plunged again after trading finished yesterday to around 70 cents after the latest update on their filing.

Looks grim, legal firms appointed to assist ‘turnaround’ etc non payment of interest on unsecured bonds. Surely suppliers must be getting twitchy now?

Wonder how much of a battering it will take today?
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Old 16th Apr 2019, 07:19
  #190 (permalink)  
 
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Indeed:

Bristow Investors ? News Release ? BRS ? bristowgroup.com
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Old 16th Apr 2019, 08:15
  #191 (permalink)  
 
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Godot isn’t coming.

Appears Bristow’s are pushing debt back whilst they continue to burn cash; I’m not sure what light they can see in the tunnel, but I suspect it may turn out to be the oncoming 10.15 reality express. The oil price may be up, but the market is still saturated with assets.
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Old 16th Apr 2019, 08:21
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Surprised it's not been scooped up and asset stripped. Though probably not enough in the way of assets to make it worthwhile
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Old 16th Apr 2019, 15:21
  #193 (permalink)  
 
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It’s recovered a bit to only be down by 50% on the day to 0.53 cents.

Surely not everyone they owe money to is happy just to let this meander on?
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Old 16th Apr 2019, 19:46
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That should read 53 cents. Not 0.53 cents.
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Old 17th Apr 2019, 09:14
  #195 (permalink)  
 
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Watch this space.
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Old 17th Apr 2019, 10:10
  #196 (permalink)  
 
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Thought it was closer to 43cents
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Old 17th Apr 2019, 12:02
  #197 (permalink)  
 
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MORE DOOM AND GLOOM HERE

https://www.rotorandwing.com/2019/04...cy-sec-filing/

Not looking good....
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Old 17th Apr 2019, 12:42
  #198 (permalink)  
 
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I'm trying to wrap my head around these numbers: BRS earnings per share = minus $10.17, at a net loss per share of $2.40, on a share that is currently worth $0.56. Bristow Group CEO Mr Miller says “If we become insolvent, investors in our common stock may lose the entire value of their investment in our business.” No kidding, pay that man a bonus!
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Old 18th Apr 2019, 02:00
  #199 (permalink)  
 
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They will do that you know.....
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Old 18th Apr 2019, 21:53
  #200 (permalink)  
 
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Interesting letter from Global Value Investing Corps calling for the resignation of most of the Bristow board...

GVIC Board Resignation Demand
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