Bristow Group Inc. (NYSE:VTOL) Q1 2023 Earnings Conference Call May 4, 2023 10:00 AM ET
Company Participants
Red Tilahun - Investor Relations
Chris Bradshaw - Chief Executive Officer
Jennifer Whalen - Senior Vice President & Chief Financial Officer
Conference Call Participants
Chris Lee - Evercore ISI
Josh Sullivan - The Benchmark Company
Steve Silver - Argus Research
Operator
Good day, everyone, and welcome to today's Bristow Group Reports First Quarter 2023 Results. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. [Operator Instructions]
It is now my pleasure to turn the conference over to Senior Manager of Investor Relations and Financial Reporting, Red Tilahun.
Red Tilahun
Thank you, Claudy. Good morning, everyone, and welcome to Bristow Group's First Quarter of 2023 Earnings Call. I am joined on the call today with our President and Chief Executive Officer, Chris Bradshaw; and Senior Vice President and Chief Financial Officer, Jennifer Whalen.
Before we begin, I'd like to take this opportunity to remind everyone that during the course of this call, management may make forward-looking statements that are subject to risks and uncertainties that are described in more detail on slide 3 of our investor presentation. You may access our investor presentation on our website. We will also reference certain non-GAAP financial measures such as EBITDA and free cash flow. A reconciliation of such measures to GAAP is included in the earnings release and our investor presentation.
I'll now turn the call over to our President and CEO. Chris?
Chris Bradshaw
Thank you, Red, and welcome to the call, everyone. As always, I will begin our prepared remarks with a note on safety, which is Bristow's most important core value and our highest operational priority. The company achieved our target of zero air accidents in the first quarter of 2023, and we also experienced a reduction in the total recordable incident rate relative to last year's metric. I want to thank and commend all of our Bristow team members around the world for their continued dedication to place safety first every day. Thank you.
As previously noted in our financial guidance and commentary, the first quarter was expected to represent the company's softest financial results due to typical seasonality as well as the transition of aircraft between the end of a contract at year-end 2022 and the commencement of newly awarded contracts over the course of 2023.