Latest news with #SamDavis
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.
Yahoo
14-05-2025
- Business
- Yahoo
BAER Stock Gains Post Record Q1 Earnings and Revenue Performances
Shares of Bridger Aerospace Group Holdings, Inc. BAER have gained 28.1% since the company reported its earnings for the quarter ended March 31, 2025. This compares to the S&P 500 Index's 4.6% gain over the same time frame. Over the past month, the stock has gained 1.2% compared with the S&P 500's 8.8% growth. Bridger Aerospace reported a record first-quarter 2025 revenue of $15.6 million, marking a 184.1% increase from $5.5 million in the same period last year. This surge was largely driven by earlier-than-usual wildfire deployments and the contribution of $1.9 million in revenues from the acquisition of Flight Test & Mechanical Solutions (FMS). Excluding non-recurring return-to-service work on Spanish Super Scoopers, core revenues increased to $9.7 million from $4.5 million a year earlier. The net loss improved to $15.5 million (or $0.41 per diluted share) from $20.1 million (or $0.55 per share) in the prior year. Adjusted EBITDA also improved, narrowing to negative $5.1 million from negative $6.9 million in the year-ago quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Bridger Aerospace Group Holdings, Inc. price-consensus-eps-surprise-chart | Bridger Aerospace Group Holdings, Inc. Quote Despite higher revenues, the cost of revenues rose 86.9% to $17.2 million from $9.2 million in first-quarter 2024. This included $5.6 million in expenses related to Spanish Scoopers and increased maintenance tied to greater field utilization. Operating loss narrowed significantly to $10.2 million from $15.3 million in the prior year. Selling, general and administrative (SG&A) expenses decreased 26% to $8.6 million from $11.6 million, primarily due to lower non-cash stock-based compensation costs. Cash and cash equivalents at the quarter-end were $22.3 million, up from $6.8 million a year ago, although down from $39.3 million at year-end 2024, due to seasonal maintenance and training expenses. CEO Sam Davis emphasized the company's response to increasingly year-round wildfire activity, noting record early deployments in California, Oklahoma and North Carolina as key drivers of first-quarter performance. Bridger Aerospace's strategy involves maintaining year-round readiness and increasing exclusive-use contracts to stabilize revenues. Davis highlighted the deployment of nearly all sensor-equipped and air attack aircraft for 2025, asserting readiness for the upcoming wildfire season. CFO Eric Gerratt reiterated that Bridger Aerospace has historically experienced net losses in the first and fourth quarters due to seasonality, but expressed confidence in improving full-year metrics. SVP John Saunders affirmed that early activity, longer wildfire seasons, and FMS integration support BAER's 2025 outlook. The standout first-quarter revenue was aided by both the early start to the wildfire season and strategic deployments under new contracts. Notably, $5.9 million of revenues stemmed from return-to-service work on the Spanish Scoopers, a one-time revenue stream that significantly boosted top-line results. However, excluding this, core revenue still saw more than 100% growth. Maintenance expenses spiked due to these Scoopers and fleet readiness investments, though management characterized them as largely pass-through costs. The reduction in SG&A was another key factor, stemming from decreased stock-based compensation compared to the 2023 period, which had elevated costs tied to the business combination completed that year. Bridger Aerospace reaffirmed its 2025 guidance of adjusted EBITDA between $42 million and $48 million on projected revenue between $105 million and $111 million. Management emphasized that this guidance excludes potential upside from deploying the Spanish Scoopers in Europe, where contracts are in final negotiation stages. The company expects a full year of FMS contributions and cost rationalization benefits, which will support margin expansion. Notably, BAER continues to expect most of its adjusted EBITDA to be generated in the third quarter, which coincides with the peak wildfire season. The quarter included multiple strategic advances. Bridger Aerospace secured a five-year, $20.1 million IDIQ contract with the U.S. Department of the Interior for surveillance aircraft in Alaska and won a wildfire mapping contract in Montana, utilizing a Daher Kodiak 100 modified in-house with FMS support. Additionally, BAER's acquisition of FMS not only added revenues but also enhanced engineering capabilities, contributing to competitive bids and margin expansion. On the international front, the company is progressing with the return to service of four Spanish Scoopers acquired via a joint venture, aiming for European deployment in 2025. It also signed a memorandum of understanding with Positive Aviation to serve as the North American launch customer for the FF72 aircraft, with the potential to acquire up to 20 units, positioning Bridger Aerospace for long-term fleet modernization and global expansion. 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
09-05-2025
- Business
- Yahoo
Diamond State Movers: Award-winning moving company in NWA
Bentonville, AR – With over two decades of combined experience, veteran-owned and locally operated Diamond State Movers is quickly becoming Northwest Arkansas's most trusted name in professional moving and junk removal services. Serving Bentonville, Rogers, Springdale, Fayetteville, and surrounding areas, this owner-operated company stands out not just for its expertise, but for its deep commitment to community and service. Co-owners Charlie Caspermeyer and Sam Davis have worked in the moving and transportation industry since 2011 and 2015, respectively. From one-bedroom apartments to sprawling estates, they've successfully managed moves of all sizes, bringing hands-on professionalism, military-grade discipline, and customer-first service to every job. 'Moving isn't just a job—it's a way we serve our neighbors,' says Sam Davis, an Arkansas Army National Guard veteran and Northwest Arkansas native. 'We've built this company on trust, care, and a genuine love for our community.' And that love appears to be mutual, with residents awarding them the Silver Award for Best Moving Service in the Best of Northwest Arkansas Awards for two consecutive years. Diamond State Movers brings much more than muscle to the table. Their team uses top-tier equipment like premium furniture pads, door protectors, and specialized dollies to ensure both safety and efficiency. The company also offers flexible junk removal services, making it a one-stop solution for customers during life's biggest transitions. Beyond their work, both Davis and Caspermeyer are committed to giving back—volunteering regularly and hosting fundraisers to support local causes throughout the year. For those looking for a dependable, community-rooted moving team that treats every move with care, Diamond State Movers is the clear choice. Services include: Residential Moving Commercial Moving Packing Labor for loading, unloading & internal moves Pool Tables TV Mounting Junk Removal Oversize / Specialty / Crating 📞 Contact: 479-212-0336🌐 Website: Serving all of Northwest Arkansas Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
