Hawaiian Holdings (HA) Q2 Earnings Beat, Q3 RASM View Dull
Zacks Investment Research | Jul 31, 2019 08:24AM ET
Hawaiian Holdings, Inc.’s (NASDAQ:HA) second-quarter 2019 earnings (excluding 2 cents from non-recurring items) of $1.23 per share outpaced the Zacks Consensus Estimate of $1.04. However, the bottom line declined 14.6% year over year. Although quarterly revenues of $712.2 million surpassed the Zacks Consensus Estimate of $707.5 million, it dipped marginally year over year.
Passenger revenues accounting for bulk (91.7%) of the top line slipped 0.3% year over year. Airline traffic, measured in revenue passenger miles, inched up 3.6% year over year to 4.49 billion in the quarter under review. Capacity or available seat miles (ASMs) expanded 2.7% to 5.15 billion. Load factor (percentage of seats filled by passengers) improved 80 basis points to 87.1% in the reported quarter as traffic growth outpaced capacity expansion.
Meanwhile, operating revenue per available seat mile (RASM: a key measure of unit revenue) in the quarter slid 3.1% year over year. Average fuel cost per gallon rose 3.4% to $2.14 in the second quarter while non-fuel unit costs inched up 0.3%.
During the quarter, Hawaiian Holdings returned $25.3 million to shareholders through $5.7 million in dividends and $19.6 million in buybacks.
Hawaiian Holdings, Inc. Price, Consensus and EPS Surprise
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