Bristow Group (VTOL) Q3 FY2026 earnings: revenue $438 million, up 13.4% on the year

Bristow Group Inc. (VTOL) reported revenue of $438 million for Q3 FY2026, the quarter ended 30 September 2026, up 13.4% on the same quarter a year earlier. Net income was $28 million, down 46.2% on the year, and diluted earnings per share $0.93. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$438 million

+13.4% on the year · +6.4% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

10.9%

13.1% a year earlier

Q4 FY2024Q3 FY2026

Net income

$28 million

-46.2% on the year · +31.1% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.93

-45.9% on the year · +32.9% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 2 lowered, 3 narrowed, 5 kept.

Revenue and net income rose: Total revenues rose to $437.9 million from $411.8 million. Net income attributable to Bristow was $27.7 million, or $0.93 per diluted share, against $21.2 million, or $0.70 in the second quarter.
Adjusted EBITDA increased: Adjusted EBITDA was $89.6 million, compared with $79.8 million. Special items of $12.1 million were added back, including $4.9 million of acquisition-related costs.
Government Services grew on BSM: Government Services revenue was $130.0 million, up $17.8 million. BSM contributed $16.9 million; the UK search and rescue contract added $1.6 million and the Irish contract fell $0.7 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	438	412	386	+6.4%	+13.4%
Operating income	47.7	39.6	50.5	+20.5%	-5.6%
Operating margin	10.9%	9.6%	13.1%
Interest expense	11.9	12.2	10.0	-2.5%	+19.7%
Pre-tax income	36.9	21.3	39.7	+73.4%	-7.1%
Income tax	9.1	0.1	-11.8	+8,365.7%
Effective tax rate	24.8%	0.5%	-29.8%
Net income	27.7	21.2	51.5	+31.1%	-46.2%
Net margin	6.3%	5.1%	13.3%
Diluted EPS	$0.93	$0.70	$1.72	+32.9%	-45.9%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	61.2	41.1	23.1	+48.9%	+165.3%
Capital expenditure	20.8	67.4	29.2	-69.1%	-28.7%
Free cash flow	40.3	-26.3	-6.2
Free cash flow margin	9.2%	-6.4%	-1.6%
Cash from investing	-104	-62.2	-0.6
Cash from financing	-33.3	-14.7	-28.2
Depreciation and amortisation	29.5	28.9	17.7	+2.0%	+66.2%
Share-based compensation	4.2	4.0	4.4	+4.4%	-4.8%
Buybacks	25.1	0.0	0.6	+313,150.0%	+3,809.5%
Dividends paid	3.7	3.7	0.0	-0.2%
Dividend per share	$0.12	$0.12	n/a	0.0%
Diluted shares, weighted	30m	30m	30m	-0.5%	-0.3%
Shares outstanding at period end	29m	30m	29m	-1.8%	+0.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,096	1,089	1,036	+0.6%	+5.7%
Non-controlling interest	-0.1	-0.1	-0.3
Debt	742	745	675	-0.5%	+9.9%
Operating lease liabilities	167	156	170	+6.9%	-1.7%
Other liabilities	416	392	389	+6.1%	+6.9%
Total liabilities and equity	2,420	2,383	2,270	+1.6%	+6.6%
Fixed assets	1,215	1,184	1,145	+2.6%	+6.1%
Goodwill	23.4	n/a	n/a
Cash and equivalents	233	312	246	-25.3%	-4.9%
Inventory	151	137	135	+10.2%	+11.6%
Other assets	797	749	743	+6.3%	+7.2%
Total assets	2,420	2,383	2,270	+1.6%	+6.6%

Questions

What was Bristow Group's revenue in Q3 FY2026?

Bristow Group (VTOL) reported revenue of $438 million for Q3 FY2026, the quarter ended 30 September 2026, up 13.4% on the same quarter a year earlier.

How much did Bristow Group earn in Q3 FY2026?

Net income for Q3 FY2026 was $28 million, down 46.2% on the year, and diluted earnings per share $0.93.

When did Bristow Group report Q3 FY2026 results?

Bristow Group filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	296	287	302	307	314	302	319	338	338	337	360	365	354	351	376	386	377	389	412	438
SG&A	41.0	41.6	40.2	41.1	41.7	46.7	44.6	46.3	44.1	43.3	44.9	42.9	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating income	4.9	-3.5	12.9	10.7	10.5	1.7	7.5	24.7	18.6	22.8	44.8	33.2	31.8	33.5	42.6	50.5	32.1	34.7	39.6	47.7
Operating margin	2%	-1%	4%	3%	3%	1%	2%	7%	6%	7%	12%	9%	9%	10%	11%	13%	9%	9%	10%	11%
Interest expense	10.2	10.2	10.2	10.0	10.5	10.3	9.9	10.0	11.3	9.5	9.4	9.7	9.1	9.5	10.0	10.0	10.4	13.8	12.2	11.9
Pre-tax income	-1.4	-1.1	12.2	16.6	-7.8	-6.6	-15.8	27.0	13.5	9.1	37.4	36.7	18.8	37.6	52.2	39.7	21.7	16.6	21.3	36.9
Tax rate	n/a	n/a	67%	1%	n/a	n/a	n/a	84%	160%	27%	25%	23%	-69%	27%	39%	-30%	14%	21%	1%	25%
Net income	-0.1	-4.3	4.0	16.5	-7.0	-1.5	-1.6	4.3	-7.9	6.6	28.2	28.2	31.8	27.4	31.7	51.5	18.4	13.1	21.2	27.7
Net margin	-0%	-2%	1%	5%	-2%	-1%	-1%	1%	-2%	2%	8%	8%	9%	8%	8%	13%	5%	3%	5%	6%
Diluted EPS	$0.00	-$0.15	$0.14	$0.58	-$0.25	-$0.05	-$0.06	$0.15	-$0.28	$0.23	$0.96	$0.95	$1.07	$0.92	$1.07	$1.72	$0.61	$0.44	$0.70	$0.93
Operating cash flow	45.1	5.6	22.8	-17.6	-18.5	6.6	18.2	16.7	-9.5	26.7	33.7	66.0	51.1	-0.6	99.0	23.1	76.9	-8.2	41.1	61.2
Capital expenditure	5.9	7.8	9.0	9.0	31.5	31.5	12.2	18.4	19.4	64.6	50.4	57.0	83.5	52.1	31.6	29.2	29.1	41.3	67.4	20.8
Free cash flow	39.2	-2.3	13.7	-26.6	-50.0	-24.9	6.0	-1.7	-28.9	-37.9	-16.7	9.0	-32.4	-52.7	67.4	-6.2	47.8	-49.6	-26.3	40.3
Buybacks	0.0	0.6	3.1	8.3	0.0	0.4	2.0	0.4	0.0	1.0	2.9	0.1	0.0	2.5	6.0	0.6	6.1	11.0	0.0	25.1
Dividends paid	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	n/a	3.7	3.7	3.7
Shares outstanding	28m	28m	28m	28m	28m	28m	28m	28m	28m	28m	29m	29m	29m	29m	29m	29m	29m	30m	30m	29m
Filing	10-Q	10-Q	10-Q	10-Q	10-KT	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.