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Southwest Airlines Co. (LUV) - free report >>
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Hawaiian Holdings' (HA) Revenue Outlook for Q2 Improves
Citing strong demand for air travel in its markets across North America, Hawaiian Holdings (HA - Free Report) provided an improved outlook for second-quarter 2021 revenues. The carrier, currently carrying a Zacks Rank #3 (Hold), expects second-quarter revenues to decline in the 42-46% range from the second-quarter 2019 actuals. The fresh guidance is better than the previous forecast of a 45-50% decline.
Owing to a better revenue scenario, the company now predicts adjusted EBITDAAR (Earnings before interest, taxes, depreciation, amortization and restructuring or rent costs) between a negative $40 million and a negative $10 million compared with its prior anticipation of a negative $70 million and a negative $20 million.
Capacity for the current quarter is still expected to be down in the 30-33% range from the second-quarter 2019 finals. Effective tax rate projection is reaffirmed at 21% for the June quarter. With increasing oil prices, the guidance for fuel cost per gallon is increased to $1.87 from $1.75.
The company anticipates higher fuel costs to be offset by lower-than-expected expenses in some other categories. The second-quarter 2021 projection for operating expenses excluding non-recurring items is intact. The metric is likely to decline 24% from the second-quarter 2019 final reading.
Notably, Hawaiian Holdings is not the only carrier to be aided by the uptick in travel demand. The overall optimism is also benefiting other airline companies like Alaska Air (ALK - Free Report) , Spirit Airlines (AAL - Free Report) and Southwest Airlines (LUV - Free Report) .
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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