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Bridger Aerospace Announces Second Quarter 2024 Results
Fleet Fully Deployed as Wildfire Activity Escalates Across the Western U.S. BELGRADE, Mt., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Bridger Aerospace Group Holdings,
About this update from Bridger Aerospace Group Holdings, Inc.
[{"type":"text","content":"Fleet Fully Deployed as Wildfire Activity Escalates Across the Western U.S.\nBELGRADE, Mt., Aug. 12, 2024 (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 results for the second quarter ended June 30, 2024. Highlights: Fleet is fully deployed in July as National Interagency Fire Center (NIFC) elevated the National Preparedness Level (NPL) to 5, its highest levelAcquired FMS Aerospace which brings year-around revenue as well as additional capabilities in house to grow in mission critical areas including emergency air services, aerospace modifications and defense systems engineeringSpanish Scooper maintenance work on scheduleReiterated 2024 revenue and adjusted EBITDA guidance, supported by increased wildfire activity across multiple geographic areas “With wildfire activity accelerating in July, including reaching NPL 5 on July 18, 2024, a level not seen since 2021, we have our entire fleet fully engaged,” stated Sam Davis, Interim Chief Executive Officer. “For the first time in our history, we have secured exclusive-use task orders for four out of our six Air Attack aircraft, two Multi-Mission aircraft, and four out of our six Super Scoopers. These aircraft are committed for a guaranteed minimum period, ensuring they remain dedicated to critical wildfire response efforts. Additionally, the task orders for both of our Pilatus PC-12 Multi-Mission Aircraft (“MMA”) have been extended into the fall, marking a record 200+ days of deployment this year, up from the originally scheduled 150 days. Furthermore, all of our Daher Kodiak 100s are under multi-day exclusive-use task orders and are actively deployed in Washington and Alaska. The remaining two light fixed wing aircraft and two Super Scoopers, operating on call-when-needed contracts, have been called out and are actively flying missions. As a result, we remain on budget through the first half of 2024 and are on track to meet our published guidance for the year.” Davis added, “The Bridger team is a critical piece of the nation’s aerial firefighting responder network, and we are grateful for the hard work and dedication of our aircrews and ground support teams as they fight to protect communities affected by wildfires.” Second Q...