Shares of GOL Linhas Aereas Inteligentes S.A. scaled a 52-week high of $4.76 in the trading session on Jun 19, 2023, before closing a tad lower at $4.67.
The company’s shares have gained 74.9% year to date, significantly higher than 27% growth of the industry it belongs to.
Let’s find out the factors supporting the uptick.
Continued recovery in air travel demand in Brazil bodes well for Gol Linhas. In first-quarter 2023, revenues from passenger transportation, accounting for 92.2% of total revenues, jumped 50.6%, thanks to continued recovery in air travel demand in Brazil. Gol Linhas transported 7.9 million passengers in the first quarter, up 17.7% from the year-ago number. Strong air travel demand is likely to aid second-quarter results as well.
Meanwhile, Gol Linhas recently reported a double-digit year-over-year increase in traffic and capacity. In May 2023, consolidated revenue passenger kilometers (a measure of air traffic) and available seat kilometers (a measure of capacity) increased 13.1% and 14.9%, respectively, on a year-over-year basis. The load factor was 76.1%. The number of flight departures at GOL in May registered a 20.7% year-over-year increase. Consolidated passenger on board rose 20.1% year over year.
Domestic departures, accounting for more than 95% of total departures during the month, grew 19.3% on a year-over-year basis. On the domestic front, the number of seats increased 19.5% in May. International departures surged 66.9% in May on a year-over-year basis. The number of seats surged 68.9% internationally.
On the domestic front, passenger on board rose 19.7% year over year. Internationally, the metric increased 28.9% year over year.
Zacks Rank & Stocks to Consider
Gol Linhas currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Copa Holdings (CPA - Free Report) and Allegiant Travel Company (ALGT - Free Report) . Each of these companies presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Copa Holdings has an expected earnings growth rate of 75.42% for the current year. CPA delivered a trailing four-quarter earnings surprise of 14.60%, on average.
The Zacks Consensus Estimate for CPA’s current-year earnings has improved 25.5% over the past 90 days. Shares of CPA have soared 32.5% over the past six months.
Allegiant has an expected earnings growth rate of more than 100% for the current year. ALGT delivered a trailing four-quarter earnings surprise of 79.78%, on average.
The Zacks Consensus Estimate for ALGT’s current-year earnings has improved 46.5% over the past 90 days. Shares of ALGT have soared 77.9% over the past six months.
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Shares of GOL Linhas Aereas Inteligentes S.A. scaled a 52-week high of $4.76 in the trading session on Jun 19, 2023, before closing a tad lower at $4.67.
The company’s shares have gained 74.9% year to date, significantly higher than 27% growth of the industry it belongs to.
Let’s find out the factors supporting the uptick.
Continued recovery in air travel demand in Brazil bodes well for Gol Linhas. In first-quarter 2023, revenues from passenger transportation, accounting for 92.2% of total revenues, jumped 50.6%, thanks to continued recovery in air travel demand in Brazil. Gol Linhas transported 7.9 million passengers in the first quarter, up 17.7% from the year-ago number. Strong air travel demand is likely to aid second-quarter results as well.
Meanwhile, Gol Linhas recently reported a double-digit year-over-year increase in traffic and capacity. In May 2023, consolidated revenue passenger kilometers (a measure of air traffic) and available seat kilometers (a measure of capacity) increased 13.1% and 14.9%, respectively, on a year-over-year basis. The load factor was 76.1%. The number of flight departures at GOL in May registered a 20.7% year-over-year increase. Consolidated passenger on board rose 20.1% year over year.
Domestic departures, accounting for more than 95% of total departures during the month, grew 19.3% on a year-over-year basis. On the domestic front, the number of seats increased 19.5% in May. International departures surged 66.9% in May on a year-over-year basis. The number of seats surged 68.9% internationally.
On the domestic front, passenger on board rose 19.7% year over year. Internationally, the metric increased 28.9% year over year.
Zacks Rank & Stocks to Consider
Gol Linhas currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the Zacks Transportation sector are Copa Holdings (CPA - Free Report) and Allegiant Travel Company (ALGT - Free Report) . Each of these companies presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Copa Holdings has an expected earnings growth rate of 75.42% for the current year. CPA delivered a trailing four-quarter earnings surprise of 14.60%, on average.
The Zacks Consensus Estimate for CPA’s current-year earnings has improved 25.5% over the past 90 days. Shares of CPA have soared 32.5% over the past six months.
Allegiant has an expected earnings growth rate of more than 100% for the current year. ALGT delivered a trailing four-quarter earnings surprise of 79.78%, on average.
The Zacks Consensus Estimate for ALGT’s current-year earnings has improved 46.5% over the past 90 days. Shares of ALGT have soared 77.9% over the past six months.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
Get the latest research report on CPA - FREE
Get the latest research report on ALGT - FREE