Hawaiian Holdings, Inc.’s (HA - Free Report) first-quarter 2019 earnings (excluding 8 cents from non-recurring items) of 67 cents outpaced the Zacks Consensus Estimate by a penny. However, the bottom line declined year over year. Quarterly revenues of $656.8 million also missed the Zacks Consensus Estimate of $660.3 million and dipped 1.3% year over year as well.
The revenue miss and its year-over-year decline perhaps displeased investors, causing the stock to shed 2.1% of value in after-hours trading on Apr 23.
Passenger revenues accounting for bulk (91.6%) of the top line slipped 1.7% year over year. Airline traffic, measured in revenue passenger miles, inched up 2.4% year over year to 4.13 billion in the quarter under review. Capacity or available seat miles (ASMs) expanded 2.5% to 4.85 billion. Load factor (percentage of seats filled by passengers) contracted 10 basis points to 85.1% in the reported quarter.
Meanwhile, operating revenue per available seat mile (RASM: a key measure of unit revenue) in the quarter slid 3.7% year over year. Average fuel cost per gallon rose 2% to $2 in the first quarter while non-fuel unit costs increased 1.4%.
Q2 & 2019 Outlook
The company anticipates capacity to increase 1.5-3.5% in the second quarter. RASM is projected to decline 2-5% in the current quarter. Non-fuel unit costs are expected to either decrease 0.5% or increase up to 2.5% in the ongoing quarter. Economic fuel costs are envisioned to be $2.19 per gallon in the same time period.
Capacity for the full year is expected to rise in the 1.5-4.5% band. Non-fuel unit costs are predicted to be either flat or rise up to 3% in the current year. Additionally, fuel costs are estimated at $2.16 per gallon in 2019.
Liquidity
As of Mar 31, 2019, this Zacks Rank #3 (Hold) company’s unrestricted cash, cash equivalents and short-term investments totaled $532 million. While outstanding debt and capital lease obligations were $613 million during the same time frame. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Investors interested in the Zacks Transportation sector are keenly awaiting first-quarter 2019 earnings reports from key players like Southwest Airlines Co. (LUV - Free Report) , Canadian National Railway Company (CNI - Free Report) and Genesee & Wyoming, Inc. . While Southwest and Canadian National will report first-quarter financial numbers on Apr 25 and Apr 29, respectively, Genesee & Wyoming will announce the same on Apr 30.
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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.
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 >>
Hawaiian Holdings, Inc.’s (HA - Free Report) first-quarter 2019 earnings (excluding 8 cents from non-recurring items) of 67 cents outpaced the Zacks Consensus Estimate by a penny. However, the bottom line declined year over year. Quarterly revenues of $656.8 million also missed the Zacks Consensus Estimate of $660.3 million and dipped 1.3% year over year as well.
The revenue miss and its year-over-year decline perhaps displeased investors, causing the stock to shed 2.1% of value in after-hours trading on Apr 23.
Passenger revenues accounting for bulk (91.6%) of the top line slipped 1.7% year over year. Airline traffic, measured in revenue passenger miles, inched up 2.4% year over year to 4.13 billion in the quarter under review. Capacity or available seat miles (ASMs) expanded 2.5% to 4.85 billion. Load factor (percentage of seats filled by passengers) contracted 10 basis points to 85.1% in the reported quarter.
Meanwhile, operating revenue per available seat mile (RASM: a key measure of unit revenue) in the quarter slid 3.7% year over year. Average fuel cost per gallon rose 2% to $2 in the first quarter while non-fuel unit costs increased 1.4%.
Q2 & 2019 Outlook
The company anticipates capacity to increase 1.5-3.5% in the second quarter. RASM is projected to decline 2-5% in the current quarter. Non-fuel unit costs are expected to either decrease 0.5% or increase up to 2.5% in the ongoing quarter. Economic fuel costs are envisioned to be $2.19 per gallon in the same time period.
Capacity for the full year is expected to rise in the 1.5-4.5% band. Non-fuel unit costs are predicted to be either flat or rise up to 3% in the current year. Additionally, fuel costs are estimated at $2.16 per gallon in 2019.
Liquidity
As of Mar 31, 2019, this Zacks Rank #3 (Hold) company’s unrestricted cash, cash equivalents and short-term investments totaled $532 million. While outstanding debt and capital lease obligations were $613 million during the same time frame. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Investors interested in the Zacks Transportation sector are keenly awaiting first-quarter 2019 earnings reports from key players like Southwest Airlines Co. (LUV - Free Report) , Canadian National Railway Company (CNI - Free Report) and Genesee & Wyoming, Inc. . While Southwest and Canadian National will report first-quarter financial numbers on Apr 25 and Apr 29, respectively, Genesee & Wyoming will announce the same on Apr 30.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Click to get it free >>
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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