Virgin America (VA) beats on Earnings & Revenues in Q4 - Tale of the Tape
Low-cost airline Virgin America ( VA ), which went public in Nov 2014, is based in California. The company, partly owned by British billionaire investor Richard Branson, made an impressive debut on Nasdaq raising $307 million through the offering. Virgin America is using the proceeds primarily for general corporate purposes.
Zacks Rank: Currently, Virgin America has a Zacks Rank #3 (Hold) but that could change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Virgin America's earnings (excluding special items) of $1.16 per share easily beat the Zacks Consensus Estimate of 82 cents.
Revenue: Operating Revenues came in at $372.2 million surpassing the Zacks Consensus Estimate of $370 million. Revenues improved 3.4% from the year-ago figure.
Key Stats: The carrier expects capacity to increase in the range of 2% to 3% in the first quarter of 2015 on a year over year basis. Moreover, the company projects PRASM (a measure of unit revenue) to change -1% to+1% in the first quarter of 2015. The carrier expects economic fuel cost (inclusive of related taxes and hedge costs) to average between $2.45 and $2.55 per gallon in the first quarter.
Stock Price: The strong earnings report pleased the investors and the stock was up 6.66% in pre-market trading at the time of writing.
Check back later for our full write up on this Virgin America earnings report later!
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