Hawaiian Holdings, Inc.’s (HA - Free Report) wholly owned subsidiary Hawaiian Airlines reported traffic figures for October. Traffic (measured in Revenue Passenger Miles or RPMs) increased 5% to 1.53 billion in the month. Available Seat Miles (ASMs) inched up 2.1% to 1.74 billion in the period. With traffic growth outpacing capacity expansion, load factor (percentage of seats filled by passengers) improved 240 basis points (bps) to 88%.
During the first 10 months of 2019, the carrier recorded 3.1% rise in RPMs while ASMs increased 1.6%. As a result, load factor was up 120 bps. While passenger count slipped 0.9% on a year-to-date basis, it inched up 1% in October.
The company recently reported third-quarter financial numbers wherein its earnings of $1.72 per share outpaced the Zacks Consensus Estimate of $1.69. However, the bottom line declined 9.9% year over year. Although quarterly revenues of $755.2 million beat the Zacks Consensus Estimate of $748.1 million, it dipped marginally year over year. Results were affected by low passenger revenues.
Zacks Rank & Other Key Picks
Hawaiian Holdings carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the same space are Allegiant Travel Company (ALGT - Free Report) , Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS - Free Report) and LATAM Airlines Group S.A. (LTM - Free Report) , each carrying the same Zacks Rank as Hawaiian Holdings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Allegiant, Controladora Vuela and LATAM Airlines have rallied more than 39%, 73% and 17%, respectively, in a year’s time.
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