Bridger Aerospace Group Holdings was trading lower in Monday’s post-market session after the aerial firefighting lowered its revenue guidance for 2023 and reported third-quarter financial results.
Bridger lowered its revenue guidance to $66 million to $68 million from earlier guidance of $84 million to $96 million.
The stock fell 22% to $4.04 per share at 5:50 p.m. ET. The shares ended the day’s regular session down 2.3% closing at $5.21.
Bridger reported third-quarter earnings per share of 15 cents on revenue of $53.6 million. The company said revenue, net income, and Adjusted Ebitda were all quarterly records.
The company’s fleet of Super Scooper aircraft saw its highest utilization ever in the third-quarter, despite a shorter-than-average North American wildfire season. Bridger also said it is “expecting 2023 to be the shortest North American wildfire season in the past 10 years.”