Era Group Announces Preliminary Q1 2020 Results
ERA GROUP INC (ERA)
US:NYSE Investor Relations:
ir.erahelicopters.com
Company Research
Source: GlobeNewswire
HOUSTON, April 20, 2020 (GLOBE NEWSWIRE) -- Era Group Inc. (NYSE: ERA) today released preliminary selective results for its first quarter ended March 31, 2020 (“current quarter”). Operating revenues were approximately $57 million, resulting in earnings before interest, taxes, depreciation and amortization (“EBITDA”) adjusted to exclude special items (“Adjusted EBITDA”) of approximately $8 million. Adjusted EBITDA excluding the impact of foreign exchange losses was approximately $10 million. These preliminary financial results are subject to completion of the Company’s customary quarterly closing and review procedures. Special items in the current quarter consisted of approximately $4 million of non-routine professional services fees and other expenses related to the expected merger with Bristow Group Inc. Foreign exchange losses in the current quarter were approximately $2 million and were primarily related to the non-cash revaluation of accounts at the Company’s Brazilian subs
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