We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Hawaiian Holdings, Inc.’s (HA - Free Report) fourth-quarter 2019 earnings (excluding 8 cents from non-recurring items) of 99 cents per share outpaced the Zacks Consensus Estimate of 87 cents. However, the bottom line dipped 1% year over year. Although quarterly revenues of $708.1 million missed the Zacks Consensus Estimate of $709.3 million it inched up 1.5% year over year.
Passenger revenues accounting for bulk (91.6%) of the top line increased 1.6% year over year. Airline traffic, measured in revenue passenger miles, climbed 5.6% year over year to 4.53 billion in the quarter under review. Capacity or available seat miles (ASMs) expanded 3.7% to 5.26 billion. Load factor (percentage of seats filled by passengers) improved 150 basis points to 86.1% in the reported quarter as traffic growth outpaced capacity expansion.
Meanwhile, operating revenue per available seat mile (RASM: a key measure of unit revenues) in the quarter slid 2.1% year over year. Average fuel cost per gallon decreased 6.8% to $2.05 in the fourth quarter while non-fuel unit costs inched up 0.8%.
During 2019, Hawaiian Holdings returned $91.6 million to shareholders through $68.8 million in buybacks and $22.8 million in dividends.
Hawaiian Holdings, Inc. Price, Consensus and EPS Surprise
As of Dec 31, 2019, this Zacks Rank #4 (Sell) company’s unrestricted cash, cash equivalents and short-term investments totaled $619 million while outstanding debt and finance lease obligations were $764 million.
Capacity (or ASMs) is anticipated to increase 7.5-10.5% year over year. RASM is expected to decline 4.5-7.5% in the current quarter. Adjusted Cost per ASM (CASM) excluding fuel is estimated to slip 1.5-4.5%. Additionally, economic fuel cost per gallon is estimated at $1.97.
2020 Outlook
For the current year, ASMs are projected to expand 5.5-8.5%. Adjusted CASM excluding fuel is predicted to either decline up to 2.5% or increase up to 0.5%. Economic fuel cost per gallon is expected to be $1.85. For full-year effective tax rate is forecast in the range of 26-28%.
Upcoming Releases
Investors interested in the broader Transportation sector are keenly awaiting fourth-quarter earnings reports from key players, such as Old Dominion Freight Line, Inc. (ODFL - Free Report) , Air Lease Corporation (AL - Free Report) and Copa Holdings, S.A. (CPA - Free Report) . While Old Dominion will release earnings numbers on Feb 6, Copa and Air Lease will announce the same on Feb 12 and Feb 14, respectively.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year. See their latest picks free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Hawaiian Holdings (HA) Q4 Earnings Beat Estimates, Slip Y/Y
Hawaiian Holdings, Inc.’s (HA - Free Report) fourth-quarter 2019 earnings (excluding 8 cents from non-recurring items) of 99 cents per share outpaced the Zacks Consensus Estimate of 87 cents. However, the bottom line dipped 1% year over year. Although quarterly revenues of $708.1 million missed the Zacks Consensus Estimate of $709.3 million it inched up 1.5% year over year.
Passenger revenues accounting for bulk (91.6%) of the top line increased 1.6% year over year. Airline traffic, measured in revenue passenger miles, climbed 5.6% year over year to 4.53 billion in the quarter under review. Capacity or available seat miles (ASMs) expanded 3.7% to 5.26 billion. Load factor (percentage of seats filled by passengers) improved 150 basis points to 86.1% in the reported quarter as traffic growth outpaced capacity expansion.
Meanwhile, operating revenue per available seat mile (RASM: a key measure of unit revenues) in the quarter slid 2.1% year over year. Average fuel cost per gallon decreased 6.8% to $2.05 in the fourth quarter while non-fuel unit costs inched up 0.8%.
During 2019, Hawaiian Holdings returned $91.6 million to shareholders through $68.8 million in buybacks and $22.8 million in dividends.
Hawaiian Holdings, Inc. Price, Consensus and EPS Surprise
Hawaiian Holdings, Inc. price-consensus-eps-surprise-chart | Hawaiian Holdings, Inc. Quote
Liquidity
As of Dec 31, 2019, this Zacks Rank #4 (Sell) company’s unrestricted cash, cash equivalents and short-term investments totaled $619 million while outstanding debt and finance lease obligations were $764 million.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Q1 Outlook
Capacity (or ASMs) is anticipated to increase 7.5-10.5% year over year. RASM is expected to decline 4.5-7.5% in the current quarter. Adjusted Cost per ASM (CASM) excluding fuel is estimated to slip 1.5-4.5%. Additionally, economic fuel cost per gallon is estimated at $1.97.
2020 Outlook
For the current year, ASMs are projected to expand 5.5-8.5%. Adjusted CASM excluding fuel is predicted to either decline up to 2.5% or increase up to 0.5%. Economic fuel cost per gallon is expected to be $1.85. For full-year effective tax rate is forecast in the range of 26-28%.
Upcoming Releases
Investors interested in the broader Transportation sector are keenly awaiting fourth-quarter earnings reports from key players, such as Old Dominion Freight Line, Inc. (ODFL - Free Report) , Air Lease Corporation (AL - Free Report) and Copa Holdings, S.A. (CPA - Free Report) . While Old Dominion will release earnings numbers on Feb 6, Copa and Air Lease will announce the same on Feb 12 and Feb 14, respectively.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>