Matteo Colombo First Hawaiian (NASDAQ:FHB) was founded back in 1858 and is headquartered in Honolulu, Hawaii. It is among the best-known banks in the country, and although it has a significant deposit cost advantage, recent years have not been easy. Seeking Alpha As you can see, since the IPO the price return has been -6.08%, a poor result considering that the S&P500 has experienced one of its most bullish phases ever. In particular, since the Fed has gradually raised rates, it seems to have gotten worse. I ...

Key TakeawaysHawaiian Electric Industries said it might not be able to continue as a going concern because of payments needed to cover a legal settlement from the 2023 Maui wildfires.The company and its Hawaiian Electric unit don't have a plan in place to cover the $1.71 billion litigation costs.The company reported a second-quarter loss of $1.3 billion, mostly related to expenses from the fires. Shares of Hawaiian Electric Industries (HE), or HEI, sank Monday after the utility operator warned it may not be ...

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 50 points on Monday.Shares of JetBlue Airways Corporation JBLU fell sharply in today's pre-market trading after the company announced a $400 million convertible senior notes offering.JetBlue Airways shares dipped 5.6% to $5.71 in pre-market trading.Here are some big stocks recording losses in today's pre-market trading session.iLearningEngines, Inc. AILE shares declined 25.8% to $4.29 in pre-market trading. ILearningEngines ...

Hawaiian Electric raised a going concern risk in its quarterly earnings report on Friday after it disclosed that it doesn't currently have a financing plan in place yet for the $1.99 billion Maui wildfire settlement it reached earlier this month. The utility company and its parent, Hawaiian Electric Industries, said they're working closely with financial advisers to develop a financing plan for their share of a broader $4 billion settlement reached with victims of the deadly Maui wildfires that killed more ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |--------------------------------------------------------------|------------------------------------------------------------------------| | | | | Commiss ...

For the quarter ended June 2024, Hawaiian Holdings (HA) reported revenue of $731.91 million, up 3.5% over the same period last year. EPS came in at -$1.37, compared to -$0.47 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $749.3 million, representing a surprise of -2.32%. The company delivered an EPS surprise of -7.87%, with the consensus EPS estimate being -$1.27.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Hawaiian Holdings, Inc. (NASDAQ:HA) Q2 2024 Earnings Conference Call July 30, 2024 4:30 PM ET Company Participants Jay Schaefer - VP and Treasurer Peter Ingram - President and CEO Brent Overbeek - EVP and CRO Shannon Okinaka - EVP and CFO Conference Call Participants Conor Cunningham - Melius Research Shannon Doherty - Deutsche Bank Dan McKenzie - Seaport Global Thomas Fitzgerald - TD Cowen Chris Stathoulopoulos - Susquehanna Operator Greetings and welcome to the Hawaiian Holdings, Inc. Second Quarter 2024 ...

Hawaiian Holdings (HA) came out with a quarterly loss of $1.37 per share versus the Zacks Consensus Estimate of a loss of $1.27. This compares to loss of $0.47 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.87%. A quarter ago, it was expected that this parent company of Hawaiian Airlines would post a loss of $2.75 per share when it actually produced a loss of $2.77, delivering a surprise of -0.73%.Over the last four quarte ...

Financial Performance - Hawaiian Holdings reported a net loss of $67.6 million for Q2 2024, compared to a net loss of $55.3 million in Q2 2023, reflecting a year-over-year decline of 22%[4] - Operating revenue for Q2 2024 was $731,905,000, a 3.5% increase from $706,928,000 in Q2 2023[25] - Total operating expenses increased by 9.9% to $787,292,000 in Q2 2024 from $716,508,000 in Q2 2023[25] - The operating loss for Q2 2024 was $55,387,000, compared to an operating loss of $9,580,000 in Q2 2023, representing a 478.2% increase in losses[25] - Net loss for Q2 2024 was $67,594,000, compared to a net loss of $12,335,000 in Q2 2023[25] - Adjusted EBITDA for the three months ended June 30, 2024, was $(21,299) thousand, a decrease from $10,772 thousand in the prior year[41] - The adjusted net loss for the six months ended June 30, 2024, was $(214,548) thousand, compared to $(135,944) thousand in the prior year[39] Revenue and Capacity - Operating revenue for Q2 2024 increased by 3.5% year-over-year, driven by a 4.3% increase in capacity, indicating steady demand for travel to Hawaiʻi[7] - The company expects Available Seat Miles (ASMs) to increase by 5.5% to 8.5% in Q3 2024, while operating revenue per ASM is projected to decrease by 4.5% to 1.5%[16] - For the full year 2024, Hawaiian anticipates ASMs to rise by 4.0% to 7.0% and capital expenditures to be between $350 million and $400 million[18] - Revenue passengers flown for the three months ended June 2024 decreased by 0.6% to 2,785, while for the six months, it increased by 0.2% to 5,405[30] - Revenue passenger miles (RPM) for the three months ended June 2024 increased by 3.8% to 4,511,948, and for the six months, it rose by 4.8% to 8,584,421[30] - Available seat miles (ASM) for the three months ended June 2024 increased by 4.1% to 5,219,132, and for the six months, it rose by 3.4% to 10,268,730[30] Cash and Liquidity - The company had unrestricted cash and short-term investments of $1.3 billion and total liquidity of $1.5 billion as of June 30, 2024[6] - Cash and cash equivalents increased to $510,463,000 as of June 30, 2024, from $153,273,000 as of December 31, 2023[26] - The company reported a net cash increase of $357,190,000 in the six months ended June 30, 2024[28] Debt and Liabilities - Long-term debt increased to $2,068,129,000 as of June 30, 2024, from $1,537,152,000 as of December 31, 2023[26] - Total liabilities and shareholders' equity as of June 30, 2024, were $4,242,757,000, compared to $3,733,525,000 as of December 31, 2023[26] Operational Developments - Hawaiian Airlines commenced new nonstop services between Salt Lake City and Honolulu, and between Sacramento and Kona and Lihu'e[10] - The company is rolling out Starlink inflight WiFi across its A330 fleet, following successful deployment on its A321neo aircraft[11] - Hawaiian continues to pursue regulatory clearance for its merger with Alaska Airlines, with a review period extended to August 15, 2024[8] Sustainability Initiatives - The company aims to achieve net-zero carbon emissions by 2050, focusing on sustainable aviation fuel and fleet modernization initiatives[14] Cost and Expenses - Economic fuel expense for the three months ended June 2024 was $181,107, a 7.1% increase from $169,175 in the same period last year[31] - Economic fuel price per gallon for the three months ended June 2024 was $2.65, a 3.9% increase from $2.55 in the same period last year[32] - The average cost per gallon of jet fuel for the three months ended June 2024 was $2.62, a 4.4% increase from $2.51 in the same period last year[30] - The company incurred special items amounting to $6,497 thousand for the three months ended June 30, 2024[41] - The company recorded a signing bonus and vacation liability true-up of $17.7 million related to a new collective bargaining agreement ratified in February 2023[34] - The company recognized approximately $6.0 million and $24.1 million in contract termination amortization during the three and six months ended June 30, 2023, respectively[35] - The company recorded $6.5 million and $15.0 million in special items during the three and six months ended June 30, 2024, primarily related to its merger with Alaska[36] - The interest expense for the three months ended June 30, 2024, was $28,324 thousand, an increase from $22,705 thousand in the same period last year[41] - GAAP operating expenses for the three months ended June 30, 2024, were $787,292 thousand, up from $716,508 thousand in the same period last year[43] - The company reported a depreciation and amortization expense of $35,068 thousand for the three months ended June 30, 2024, compared to $33,348 thousand in the prior year[41] - The company's CASM (Cost per Available Seat Mile) was 15.05 cents for the three months ended June 30, 2024, compared to 14.29 cents in the same period last year[43] - Operating cost per ASM (CASM) for the three months ended June 2024 increased by 5.3% to 15.05¢, while for the six months, it rose by 5.7% to 15.39¢[30] - The pre-tax margin for the three months ended June 30, 2024, was reported at (9.2)%, compared to (2.0)% for the same period in 2023[45]

HONOLULU, July 30, 2024 /PRNewswire/ -- Hawaiian Holdings, Inc. (NASDAQ: HA) (the "Company"), parent company of Hawaiian Airlines, Inc. ("Hawaiian"), today reported its financial results for the second quarter of 2024."This quarter we delivered on important investments in the future of our company, including flying the first two Boeing 787-9's in our fleet, rolling out free, high-speed Starlink WiFi across our long-haul narrow body fleet, and adding three new routes to our North America network," said Hawai ...