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Mesa Air Group Q1 Profit Down

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( - Mesa Air Group Inc. ( MESA ) reported first-quarter net income of $19.1 million, or $0.55 per share, compared to net income of $22.6 million or $0.96 per share last year.

The prior year result included a $22.4 million favorable tax adjustment related to the Tax Cuts and Jobs Act.

Excluding special items adjusted net income was $19.1 million compared to $0.2 million last year.

Total operating revenues grew to $178.16 million from $164.68 million last year.

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