Bridger Aerospace Shares Fall 22% After Lowering 2023 Revenue Guidance
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.
From the Equity Insider archive. This article dates from Nov 13, 2023 and is preserved as first published.
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.
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.”
