Airline Stock Roundup: Q3 Earnings Beat At SKYW & GOL, DAL's Traffic & More
Zacks Investment Research | Nov 06, 2019 01:21AM ET
In the past week, SkyWest (NASDAQ:SKYW) and the Latin American carrier Gol Linhas Aereas Inteligentes (NYSE:GOL) reported better-than-expected third-quarter 2019 earnings per share. However, the picture pertaining to revenues was in contrast for both carriers.
SkyWest’s revenues beat the Zacks Consensus Estimate but declined year over year due to the sale of ExpressJet Airlines in January 2019. Meanwhile, Gol Linhas’ top line missed the consensus mark but improved year over year owing to solid demand in the corporate segment and capacity discipline.
Meanwhile, profit after tax at the European low-cost carrier Ryanair Holdings (NASDAQ:RYAAY) was flat year over year at €1.15 billion in the first half of fiscal 2020 (ended Sep 30, 2019) with average air fares declining 5%. However, an 11% rise in traffic led to 11% growth in revenues during the first six months of fiscal 2020. Moreover, load factor was 96%. Over this period, the carrier returned €250 million to its shareholders through buybacks.
On the non-earnings front, Delta Air Lines’ (NYSE:DAL) October traffic report was impressive with the system-wide load factor (% of seats filled by passengers) increasing 10 basis points to 85.6% as traffic growth outweighed capacity expansion.
(Read the last Airline Stock Roundup Zacks Investment Research
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