Hawaiian Holdings, Inc.’s (HA - Free Report) wholly owned subsidiary Hawaiian Airlines reported traffic figures for January. Traffic (measured in Revenue Passenger Miles or RPMs) increased 4.8% to 1.43 billion in the month. Available Seat Miles (ASMs) also climbed 4.6% to 1.7 billion in the period. Load factor (percentage of seats filled by passengers) inched up 20 basis points (bps) to 84.3% as traffic growth outweighed capacity expansion. However, the number of passengers transported slid 1.5% year over year to 958,548 in January.
With the earnings season on, let’s delve into the company’s fourth-quarter performance. The company’s earnings (excluding 36 cents from non-recurring items) of $1 per share outpaced the Zacks Consensus Estimate by a couple of cents. Moreover, quarterly revenues of $697.5 million edged past the Zacks Consensus Estimate of $696.3 million. While earnings per share decreased, revenues increased on a year-over-year basis.
Meanwhile, operating revenue per available seat mile in the reported quarter dipped 3.3% year over year. In the first quarter of 2019, the metric is projected to decline between 3% and 6% on a year-over-year basis. Fuel cost per gallon (economic) is anticipated in the band of $1.95-$2.05 in the first quarter. Non-fuel unit costs are forecast to inch up in the 1-4% range.
Capacity is predicted to grow between 1.5% and 3% for the first quarter. The metric is expected to expand within 1.5-4.5% for 2019. Non-fuel unit costs are envisioned to be flat or increase up to 3% this year.
Zacks Rank & Key Picks
Hawaiian Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Azul S.A. (AZUL - Free Report) , Canadian Pacific Railway Limited (CP - Free Report) and Union Pacific Corporation (UNP - Free Report) . While Azul flaunts a Zacks Rank #1 (Strong Buy), both Canadian Pacific and Union Pacific hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Azul, Canadian Pacific and Union Pacific have rallied more than 10%, 16% and 28%, respectively, in a year.
Zacks' Top 10 Stocks for 2019
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This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Hawaiian Holdings, Inc.’s (HA - Free Report) wholly owned subsidiary Hawaiian Airlines reported traffic figures for January. Traffic (measured in Revenue Passenger Miles or RPMs) increased 4.8% to 1.43 billion in the month. Available Seat Miles (ASMs) also climbed 4.6% to 1.7 billion in the period. Load factor (percentage of seats filled by passengers) inched up 20 basis points (bps) to 84.3% as traffic growth outweighed capacity expansion. However, the number of passengers transported slid 1.5% year over year to 958,548 in January.
With the earnings season on, let’s delve into the company’s fourth-quarter performance. The company’s earnings (excluding 36 cents from non-recurring items) of $1 per share outpaced the Zacks Consensus Estimate by a couple of cents. Moreover, quarterly revenues of $697.5 million edged past the Zacks Consensus Estimate of $696.3 million. While earnings per share decreased, revenues increased on a year-over-year basis.
Meanwhile, operating revenue per available seat mile in the reported quarter dipped 3.3% year over year. In the first quarter of 2019, the metric is projected to decline between 3% and 6% on a year-over-year basis. Fuel cost per gallon (economic) is anticipated in the band of $1.95-$2.05 in the first quarter. Non-fuel unit costs are forecast to inch up in the 1-4% range.
Capacity is predicted to grow between 1.5% and 3% for the first quarter. The metric is expected to expand within 1.5-4.5% for 2019. Non-fuel unit costs are envisioned to be flat or increase up to 3% this year.
Zacks Rank & Key Picks
Hawaiian Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Azul S.A. (AZUL - Free Report) , Canadian Pacific Railway Limited (CP - Free Report) and Union Pacific Corporation (UNP - Free Report) . While Azul flaunts a Zacks Rank #1 (Strong Buy), both Canadian Pacific and Union Pacific hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Azul, Canadian Pacific and Union Pacific have rallied more than 10%, 16% and 28%, respectively, in a year.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?
From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.
This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.
See Stocks Today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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