Steve Silver's questions to Bristow Group Inc (VTOL) leadership • Q2 2025
Question
Steve Silver of Argus Research asked for more color on the capital allocation strategy, specifically why only a modest portion of the share repurchase program was used in Q2, and questioned the rationale for accelerating principal payments on the UK SAR equipment facility over other debt instruments.
Answer
President & CEO Chris Bradshaw clarified that Q2 priorities were completing government project CapEx and beginning accelerated debt paydown, making the share repurchases an opportunistic pull-forward. He also reiterated the plan to initiate a dividend in 2026. SVP & CFO Jennifer Whalen added that the UK SAR debt was targeted for early repayment because it was the company's highest-cost debt and carried no prepayment penalty.