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Solus Alternative Asset Management LP, a significant shareholder in Bristow Group Inc. (NYSE:VTOL), reported sales of the company’s stock totaling $450,781, according to recent filings with the Securities and Exchange Commission. The transactions occurred over two days, with shares sold at prices ranging from $32.0785 to $32.1512. The $898 million market cap company has demonstrated strong profitability, with a P/E ratio of 9.46 and positive earnings of $3.21 per share over the last twelve months, according to InvestingPro data.
On March 19, Solus sold 9,875 shares of Bristow Group at an average price of $32.0785 per share. The following day, March 20, an additional 4,168 shares were sold at an average price of $32.1512. After these transactions, Solus continues to hold 3,162,653 shares of Bristow Group. The stock currently trades near $31.42, slightly above InvestingPro’s Fair Value estimate, with analysts setting price targets between $47 and $50.
These sales were executed on behalf of Solus and its affiliates, with Christopher Pucillo, managing member of Solus GP LLC, signing the filing. The transactions are part of routine portfolio management activities by Solus, which is a ten percent owner of Bristow Group. InvestingPro subscribers can access detailed research reports and additional insights about Bristow Group’s financial health, which currently shows a "GOOD" overall rating based on comprehensive analysis of multiple financial metrics.
In other recent news, Bristow Group Inc. reported its fourth-quarter 2024 financial results, surpassing analysts’ expectations with a notable earnings per share (EPS) of $1.07, significantly above the forecasted $0.61. The company also reported revenues of $353.53 million, slightly exceeding the predicted $349.85 million. Bristow’s strong performance was driven by growth in offshore energy services and government contracts. The company experienced a 39% year-over-year increase in adjusted EBITDA and a substantial rise in operating cash flows. For 2025, Bristow projects revenues between $1.4 billion and $1.6 billion, with adjusted EBITDA expected to range from $230 million to $260 million. The company aims to capitalize on growth opportunities in advanced air mobility and government services. Analysts from Evercore noted the strong performance in Bristow’s offshore energy services, highlighting high utilization rates and a tight supply-demand dynamic. Bristow’s management expressed optimism about maintaining strong utilization levels and exploring new growth avenues globally.
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