Hawaiian Holdings HA just released it latest quarterly results, posting earnings of $1.44 per share and revenues of $715.4 million.
Currently, HA is a #3(Hold) on the Zacks Rank, but that could change based on today's results. Investors should note that our consensus estimate trend has recently decreased for the current fiscal year.
Shares of the company have fallen -5.34% over the past month and were down -4.09% during regular trading hours today.
However, the stock is currently flat in after-hours trading shortly after its earnings report was released.
Beat earnings estimates
Hawaiian Holdings reported earnings of $1.44 per share, topping the Zacks Consensus Estimate of $1.26 per share. Adjusted net income was $73.3 million for the quarter.
Missed revenue estimates
Hawaiian Holdings saw revenue figures of $715.4 million, missing our consensus estimate of $717.8 million but growing 6.8% year-over-year.
Along with an earnings beat, the company carried more than 3 million guests across its network, a record for the second quarter.
Looking ahead, the company is projecting ASMs to go up 5.5-7.5% for fiscal 2018. For Q3 operating revenue per ASM is expected to be down -1.5% to up 1.5%.
Despite challenging times in the airline industry, Hawaiian Holdings was able to produce solid Q2 results. CEO Peter Ingram expressed his enthusiasm in a statement, ""The Hawaiian team showed their mettle yet again, producing solid financial and operational results in a quarter marked by rising fuel prices, elevated industry capacity, and headline-grabbing volcanic activity on the Big Island of Hawai'i."
Here's a graph that looks at the company's recent earnings performance:
Hawaiian Holdings, Inc. Price, Consensus and EPS Surprise
Hawaiian Holdings is a holding company of Hawaiian Airlines, which is Hawai'i's biggest and longest-serving airline and headquarted in Honolulu,HI.
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Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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