Hawaiian Air reports $79.5 million profit
BRUCE ASATO / BASATO@STARADVERTISER.COM
Hawaiian Airlines’ Boeing 767.
Hawaiian Holdings Inc. (HA) on Tuesday reported second-quarter profit of $79.5 million.
The Honolulu-based company said it had net income of $1.56 per share. Earnings, adjusted for nonrecurring gains, were $1.44 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The parent company of Hawaiian Airlines posted revenue of $715.4 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $717.8 million.
“Our second quarter performance reflects our continued position as the carrier of choice for Hawai’i,” said Peter Ingram, Hawaiian Airlines president and CEO. “The Hawaiianteam 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. We generated more revenue and carried more guests than in any second quarter in our history by executing our plan and running a safe and reliable airline. I couldn’t be more proud of my colleagues.”
Hawaiian Holdings shares have decreased roughly 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.35, a fall of 19 percent in the past 12 months.
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