Latest news with #SamDavis
Yahoo
4 days ago
- Business
- Yahoo
Bridger Aerospace Stock Plunges Despite Record Q2 Earnings and Profit
Shares of Bridger Aerospace Group Holdings, Inc. BAER have lost 10.9% since the company reported its earnings for the quarter ended June 30, 2025. This compares unfavorably to the S&P 500 Index's 0.5% gain over the same period. Over the past month, BAER has slipped 2.2%, while the broader market rose 2.1%. BAER's Financial Performance Snapshot Bridger Aerospace delivered its strongest second quarter in company history, with revenue climbing 136.3% year over year to $30.8 million from $13 million. Net income was $0.3 million against a $9.9 million loss a year earlier, and adjusted EBITDA surged to $10.8 million from $0.2 million. Loss per diluted share was $0.12, improving from a loss of $0.33 per share a year earlier. Excluding $5.1 million in revenues from return-to-service work on four Spanish Super Scoopers under its MAB Funding partnership, operational revenue still more than doubled to $25.7 million. The quarter benefited from early and full deployment of the fleet, with both Super Scoopers and surveillance aircraft seeing high utilization. Selling, general and administrative (SG&A) expenses fell 17.4% to $6.5 million from $7.9 million due to lower non-cash stock-based compensation and reduced earnout consideration, while cost of revenues rose 89.5% to $18.7 million from $9.9 million, partly due to $3.9 million in expenses for the Spanish aircraft program. Bridger Aerospace's Other Key Business Metrics Bridger Aerospace achieved 100% fleet deployment in the quarter, marking the earliest call-outs in its history. Two separate 120-day task orders for Super Scoopers from the U.S. Forest Service ensure deployment through mid-October, supporting the company's strategy for year-round revenue. Additionally, BAER dropped 4 million gallons of water across multiple states during the season to date. Cash and cash equivalents stood at $17 million at quarter-end, down from $39.3 million at the end of 2024, largely due to winter maintenance and training expenses. However, $18.3 million in receivables from early fire season activity is expected to boost cash in the coming months. Bridger Aerospace Group Holdings, Inc. Price, Consensus and EPS Surprise Bridger Aerospace Group Holdings, Inc. price-consensus-eps-surprise-chart | Bridger Aerospace Group Holdings, Inc. Quote BAER's Management Commentary CEO Sam Davis credited the performance to early deployments, expanded contracts, and the increasing recognition of the Super Scooper's effectiveness in initial attack operations. Davis noted that all six scoopers operated together in Alaska for the first time under U.S. Forest Service task orders. Management also highlighted ongoing integration of its Ignis Technologies platform with real-time sensor imagery to improve situational awareness for firefighters, and progress on the development of the FF72 firefighting aircraft in partnership with Positive Aviation, targeting a 2029 delivery. Factors Influencing Bridger Aerospace's Headline Numbers Bridger Aerospace's revenue surge was driven by significantly higher activity levels compared to 2024, aided by favorable wildfire conditions, expanded contracts and earlier deployments. While operational gains were strong, higher maintenance costs associated with the return-to-service program for the Spanish Scoopers weighed on margins. Lower SG&A helped offset these pressures, reflecting disciplined cost control. Interest expense remained relatively stable at $5.7 million. The shift to net profitability was primarily attributed to increased fleet utilization and operational leverage. BAER's Guidance Bridger Aerospace reaffirmed expectations to close 2025 at the higher end of its guidance — adjusted EBITDA between $42 million and $48 million on revenue of $105 million to $111 million. Guidance excludes potential contributions from the Spanish Scoopers. Management also anticipates continued improvement in cash flow from operating activities and plans to revisit forecasts after third-quarter results, historically the strongest period due to peak wildfire activity. Bridger Aerospace's Other Developments During the quarter, BAER signed a $46 million sale-leaseback agreement for its Bozeman, MT, campus and hangar facilities, with closing expected in third-quarter 2025. Proceeds will be used to reduce debt and interest expenses while retaining operational use under a 10-year lease. The return-to-service work on the four Spanish Scoopers remains on schedule, with two already certified and potential deployment in Europe under consideration. The remaining two are slated for completion later in 2025 and early 2026. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bridger Aerospace Group Holdings, Inc. (BAER): Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
13-06-2025
- Business
- Yahoo
Bridger Aerospace Shares Insights on Executive Order to Reshape Wildland Firefighting
Significant Increase to DOI's Fiscal 2026 Budget Request further Prioritizes Preparedness and Rapid Response BELGRADE, Mont., June 13, 2025 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. ('Bridger', 'the Company' or 'Bridger Aerospace'), (NASDAQ: BAER, BAERW), one of the nation's largest aerial firefighting companies, today commented on the Executive Order to restructure our national wildland firefighting system. Sam Davis, Bridger's Chief Executive Officer stated, 'Bridger was established with a mission of saving lives, property, and the environment from wildfires and we stand ready to support our federal and state customers as we seek to integrate the Order to enhance preparedness, respond more rapidly and save property and lives.' The Executive Order prioritizes the immediate suppression of wildfires to protect communities and critical infrastructure. Included in the Executive Order is the establishment of a National Wildland Firefighting Task Force that will span all federal agencies, ease administrative burdens and refocus our national efforts on preparedness and aggressive Wildfire Suppression. The Executive Order comes on the heels of the May 20, 2025 letter from the Chief of the US Forest Service to Regional Foresters, Station Directors, Deputy Chiefs and Washington Office Directors, which reiterated the need for direct attack wildfire mitigation. This letter states that the Forest Service will 'focus on safe, aggressive initial attack,' and that 'It is critical that we suppress fires as swiftly as possible to minimize the amount of fireline exposure and be ready for the next ignition. This means employing direct attack tactics when and where feasible to minimize fire size and time to containment when safe and practicable to do so.' The U.S. Department of the Interior also recently issued its fiscal year 2026 budget for the new U.S. Wildland Fire Service (USWFS) which calls for a more than three-fold increase in funding to $3.70 billion, as well as a Wildfire Suppression Operations Reserve Fund budget of $2.85 billion, for a total of $6.55 billion. The Budget request includes $1.39 billion for Suppression Operations compared to just $383,657 in each of the last two years. Mr. Davis added, 'This executive order marks a significant change in how we approach and fight wildfires as a country. The intent of the Executive Order is to enhance the effectiveness and efficiency of wildland fire management operations, streamline procurement processes, and establish year-round readiness requirements. This commitment, on top of the 2026 budget for the new USWFS, will have a significant positive impact on the entire wildland fire community. Bridger commands a significant Air Attack fleet, including modern fire imaging and surveillance aircraft, and the world's largest private Super Scooper fleet, and we are ready to do whatever is needed to support our state and federal customers.' This Executive Order was released in advance of a summer predicted by the National Weather Service to be above average with a probability ranging from 33-70% across the entire contiguous US and most of Alaska. This follows an intense start to the year with fires ranging from Los Angeles, California to Ocean County, New Jersey contributing to just over 1 million acres burned nationally by wildfire to date. The fires in Los Angeles alone caused an estimate of greater than $250 billion in damage. The full Executive Order can be viewed here: and the May 20, 2025 US Forest Service Letter is available at The U.S. Department of the Interior 2026 budget can be found at About Bridger Aerospace Based in Belgrade, Montana, Bridger Aerospace Group Holdings, Inc. is one of the nation's largest aerial firefighting companies. Bridger provides aerial firefighting and wildfire management services to federal and state government agencies, including the United States Forest Service, across the nation, as well as internationally. More information about Bridger Aerospace is available at Investor ContactsAlison ZieglerDarrow Associates201-220-2678aziegler@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Bridger Aerospace Announces Signing of Sale Leaseback Transaction for its Headquarters Campus; Strengthening Balance Sheet and Reducing Annual Interest Expense
BELGRADE, Mont., May 27, 2025 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. ('Bridger,' 'the Company' or 'Bridger Aerospace'), (NASDAQ: BAER, BAERW), one of the nation's largest aerial firefighting companies, today reported that it has signed a Purchase and Sale Agreement for a sale leaseback transaction for its Bozeman Yellowstone International Airport campus facilities in Belgrade, Montana, with an aggregate purchase price of at least $46 million. The net proceeds from the transaction will be used to repay a portion of the outstanding balance under the Company's debt facilities, lowering ongoing cash interest. The transaction is expected to close in the third quarter of 2025 and is subject to customary closing conditions. Concurrent with the closing of the transaction, Bridger will enter into a ten-year lease agreement with SR Aviation Infrastructure ('SRAI'), the Purchaser, for the hangar and office headquarter facilities, which the Company will continue to utilize as a base for its world class aerial firefighting operations. SRAI, an affiliate of SomeraRoad, is an investment platform focused on the acquisition, development, and leasing of aviation-related real estate. It includes airplane hangar space for corporate users, based aircraft, FBOs, MROs, flight schools, charter, and management companies across the United States. The platform addresses the existing supply and demand imbalance in the aviation-related real estate sector. The current portfolio additionally includes Quail Air Center in Las Vegas, Nevada; and the San Antonio International Airport private hangar complex in San Antonio, Texas. 'We are thrilled to have secured this agreement with SRAI to capitalize on the appreciated value of our real estate portfolio and materially reduce the Company's debt balance,' commented Sam Davis, Bridger's Chief Executive Officer. 'Bridger remains committed to the Bozeman area by entering a 10-year lease-back and the sale of our state-of-the-art facilities to a real estate investment firm will enable us to continue to grow and further enhance shareholder value.' About Bridger Aerospace Based in Belgrade, Montana, Bridger Aerospace Group Holdings, Inc. is one of the nation's largest aerial firefighting companies. Bridger provides aerial firefighting and wildfire management services to federal and state government agencies, including the United States Forest Service, across the nation, as well as internationally. More information about Bridger Aerospace is available at Investor ContactsAlison ZieglerDarrow Associates201-220-2678aziegler@ Forward-Looking Statements Certain statements included in this press release are not historical facts but are forward-looking statements, including for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as 'believe,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'should,' 'would,' 'plan,' 'project,' 'forecast,' 'predict,' 'poised,' 'positioned,' 'potential,' 'seem,' 'seek,' 'future,' 'outlook,' 'target,' and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, (1) the anticipated benefits from Bridger's proposed sale leaseback transaction; (2) Bridger's business and growth plans; (3) Bridger's future financial performance; (4) current and future demand for aerial firefighting services, including trends and/or changes in the duration or severity of any domestic or international wildfire seasons; and (5) anticipated investments in additional aircraft, capital resources, and research and development and the effect of these investments. These statements are based on various assumptions and estimates, whether or not identified in this press release, and on the current expectations of Bridger's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Bridger. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to: the ability of Bridger to successfully close the sale leaseback transaction; Bridger's ability to identify and effectively implement any current or future anticipated cost reductions, including any resulting impacts to Bridger's business and operations therefrom; the duration or severity of any domestic or international wildfire seasons; changes in domestic and foreign business, market, financial, political and legal conditions; Bridger's failure to realize the anticipated benefits of any acquisitions; Bridger's successful integration of any aircraft (including achievement of synergies and cost reductions); Bridger's ability to successfully and timely develop, sell and expand its services, and otherwise implement its growth strategy; risks relating to Bridger's operations and business, including information technology and cybersecurity risks, loss of requisite licenses, flight safety risks, loss of key customers and deterioration in relationships between Bridger and its employees; risks related to increased competition; risks relating to potential disruption of current plans, operations and infrastructure of Bridger, including as a result of the consummation of any acquisition; risks that Bridger is unable to secure or protect its intellectual property; risks that Bridger experiences difficulties managing its growth and expanding operations; Bridger's ability to compete with existing or new companies that could cause downward pressure on prices, fewer customer orders, reduced margins, the inability to take advantage of new business opportunities, and the loss of market share; the ability to successfully select, execute or integrate future acquisitions into Bridger's business, which could result in material adverse effects to operations and financial conditions; and those factors discussed in the sections entitled 'Risk Factors' and 'Cautionary Statement Regarding Forward-Looking Statements' included in Bridger's Annual Report filed with the U.S. Securities and Exchange Commission (the 'SEC') on March 14, 2025 for the fiscal year ended December 31, 2024 and in subsequent filings made by Bridger with the SEC from time to time. If any of these risks materialize or Bridger management's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. The risks and uncertainties above are not exhaustive, and there may be additional risks that Bridger presently does not know or that Bridger currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Bridger's expectations, plans or forecasts of future events and views as of the date of this press release. Bridger anticipates that subsequent events and developments will cause Bridger's assessments to change. However, while Bridger may elect to update these forward-looking statements at some point in the future, Bridger specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Bridger's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements contained in this press release.
Associated Press
22-05-2025
- Business
- Associated Press
Bridger Aerospace Secures Record 120 Day Task Orders for Four of its Super Scoopers
BELGRADE, Mont., May 22, 2025 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings, Inc. ('Bridger', 'the Company' or 'Bridger Aerospace'), (NASDAQ: BAER, BAERW), one of the nation's largest aerial firefighting companies, today announced that is has received two separate 120 day task orders from the US Forest Service, each for two of its CL-415EAF 'Super Scooper' aircraft. These procurements are noteworthy in that they were received early in the wildfire year and are for a record 120 days each. 'These task orders recognize the Super Scoopers as one of the most effective tools in responding to wildfires as well as the Forest Service's growing willingness to pre-position assets in order to more rapidly respond, helping to limit damage and better protect lives and property from this increasingly year-round threat,' commented Sam Davis, Bridger's Chief Executive Officer. 'Securing these longer-term task orders also demonstrates the success of our strategy to have our fleet available and ready year-round to increase the visibility and predictability of our revenue.' Davis added, 'Two Scoopers are currently operating on a Task Order in Minnesota. The next Scooper Task Order start date is pending. The last two Super Scoopers will remain on a 'call when needed' basis.' About Bridger Aerospace Based in Belgrade, Montana, Bridger Aerospace Group Holdings, Inc. is one of the nation's largest aerial firefighting companies. Bridger provides aerial firefighting and wildfire management services to federal and state government agencies, including the United States Forest Service, across the nation, as well as internationally. More information about Bridger Aerospace is available at Investor Contacts Alison Ziegler Darrow Associates 201-220-2678 [email protected]
CBS News
21-05-2025
- General
- CBS News
How these planes are helping in the fight against northern Minnesota wildfires
How airplanes are fighting Minnesota wildfires from the sky How airplanes are fighting Minnesota wildfires from the sky How airplanes are fighting Minnesota wildfires from the sky Investigators believe the Jenkins Creek Fire, which the U.S. Forest Service says has spread to over 16,000 acres, was started by a person. Forest service officials said in an update Wednesday that the fire "is related to human cause," though did not give any additional detail. The Jenkins Creek Fire is 13% contained, officials added. One of the state's most precious resources is pitching in to help. "We can get a lot of water onto a fire in a pretty short amount of time in a magnitude that really outperforms any other method," said Sam Davis, CEO of Bridger Aerospace. Airplanes scoop up and dump the water where it's desperately needed. "When the time came when these conditions started to prevail; and those major fires broke out they reached out to the forest service to make sure they ordered us up and we were able to dispatch as we normally do within 24 to 48 hours," said Davis. North Pier Photography The planes came from Bozeman, Montana. These 1400 gallon tanks can drop hundreds of thousands of gallons of water in a four hour cycle before refueling. Some also drop retardant to quell the flames. "A very dangerous mission these aircraft are flying as low as 100 feet above the ground to be effective and drop water," said Davis. Davis' company Bridger Aero Space has been around the country helping local forces fight fires. "This year alone we've worked from the Carolinas to California on fires. We've been in 11 different states," said Davis. To accomplish their mission here in Minnesota, they're asking people to stay out of the way. "There's already been 18 incidents with drones over fire that have gotten in the way and shut down aerial operations," said Davis.
