Bristow Group reported net income attributable to the company of $13.1 million, or $0.44 per diluted share, on total revenues of $388.7 million for the quarter ended March 31, 2026. This compares with net income of $18.4 million, or $0.61 per diluted share, on $377.3 million in total revenues in the prior quarter, and adjusted EBITDA declined slightly from $60.1 million to $59.3 million.

Offshore energy services revenue increased by $6.9 million, or 2.8%, to $254.3 million, driven by higher rates and utilization in the U.S., Trinidad and Africa. However, operating income in this segment fell 15.3% to $35.7 million due to accelerated depreciation on medium helicopters, higher repairs and maintenance costs, and increased lease expenses.

Government services revenue climbed 7.8% to $107.9 million, supported by the full-quarter impact of the Irish Coast Guard contract and the launch of the Waterford base. Operating income swung to a $0.9 million profit from a $1.6 million loss in the prior quarter, reflecting higher revenues partially offset by increased operating and administrative expenses.

The company affirmed its full-year 2026 adjusted EBITDA guidance in the range of $295 million to $325 million. Management cited favorable trends in defense spending, energy security demand and emerging electrified aircraft opportunities as key drivers for meeting this outlook.