Weak Earnings, Guidance Grounds Bristow Group Inc's Stock

What: Shares of Bristow Group (NYSE:BRS) slumped on Thursday, falling more than 15% by 11 a.m. EDT. The company's fiscal 2016 fourth-quarter results and its 2017 outlook are to blame for the turbulent stock price. So what: Bristow reported operating revenue of $375.3 million, which is down 10.4% over the prior period. The weakness in the oil and gas market is to blame, as evidenced by the fact that Bristow's oil and gas services revenue slumped 29.2% to $255 million. That weakness was only partially offset by a 27.4% boost in fixed wing services revenue and a 462.8% surge in revenue from U.K. SAR services thanks to the completion of start-up activities for that contract.