With continued recovery in air-travel demand, Hawaiian Holdings (HA - Free Report) improved its revenue guidance for the second quarter of 2022. It also revised guidance for certain other key metrics.
HA expects total revenues to decline approximately 4.5-7.5% from the second quarter of 2019 compared with the previous estimation of a decrease of around 8-12%. The improved guidance is due to an uptick in domestic yields.
Hawaiian Holdings now expects second-quarter capacity to decline approximately 11.5% to 13.5% from the comparable period in 2019. The previous view was a decrease of about 11.5-14.5%.
Due to reduced maintenance costs as well as improvements in other areas, the carrier now anticipates costs per available seat mile or CASM excluding fuel and non-recurring items to increase approximately 15.5-17.5% in the second quarter from the 2019 level compared with the previous expectation of a rise of approximately 16.5% to 19.5%. Adjusted EBITDA for the second quarter is estimated to be ($20)-$30 million compared with the previous expectation of ($50)-$10 million. With rising oil prices, HA now estimates fuel price per gallon to be $3.76 compared with the previous view of $3.59.
Hawaiian Holdings continues to expect effective tax rate of around 21% in the second quarter. Gallons of jet fuel consumed are still estimated to decline 14.5-17.5%.
Zacks Rank & Key Picks
Hawaiian Holdings carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Transportation sector are as follows:
Golar LNG Limited (GLNG - Free Report) flaunts a Zacks Rank #2 (Buy). The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missing once, the average surprise being 42.1%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Shares of Golar LNG have rallied more than 94% in a year.
Star Bulk Carriers (SBLK - Free Report) carries a Zacks Rank #2. The company's earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed the same once, the average surprise being 7.1%.
Shares of Star Bulk have gained more than 99% in a year.
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With continued recovery in air-travel demand, Hawaiian Holdings (HA - Free Report) improved its revenue guidance for the second quarter of 2022. It also revised guidance for certain other key metrics.
HA expects total revenues to decline approximately 4.5-7.5% from the second quarter of 2019 compared with the previous estimation of a decrease of around 8-12%. The improved guidance is due to an uptick in domestic yields.
Hawaiian Holdings now expects second-quarter capacity to decline approximately 11.5% to 13.5% from the comparable period in 2019. The previous view was a decrease of about 11.5-14.5%.
Due to reduced maintenance costs as well as improvements in other areas, the carrier now anticipates costs per available seat mile or CASM excluding fuel and non-recurring items to increase approximately 15.5-17.5% in the second quarter from the 2019 level compared with the previous expectation of a rise of approximately 16.5% to 19.5%. Adjusted EBITDA for the second quarter is estimated to be ($20)-$30 million compared with the previous expectation of ($50)-$10 million. With rising oil prices, HA now estimates fuel price per gallon to be $3.76 compared with the previous view of $3.59.
Hawaiian Holdings continues to expect effective tax rate of around 21% in the second quarter. Gallons of jet fuel consumed are still estimated to decline 14.5-17.5%.
Zacks Rank & Key Picks
Hawaiian Holdings carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Transportation sector are as follows:
Golar LNG Limited (GLNG - Free Report) flaunts a Zacks Rank #2 (Buy). The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missing once, the average surprise being 42.1%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Shares of Golar LNG have rallied more than 94% in a year.
Star Bulk Carriers (SBLK - Free Report) carries a Zacks Rank #2. The company's earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed the same once, the average surprise being 7.1%.
Shares of Star Bulk have gained more than 99% in a year.
Free Report: Must-See Energy Stocks for 2023
Record profits at oil companies can mean big gains for you. With soaring demand and elevated prices, oil stocks could be top performers by far in 2023. Zacks has released a special report revealing the 4 oil stocks experts believe will deliver the biggest gains. (You’ll never guess Stock #2!)
Download Oil Market on Fire today, absolutely free.
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