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 ...

ryasick/E+ via Getty Images Introduction The 'Undercovered' Dozen series highlights undercovered stocks on our platform for you to have another source for idea generation. This time we're looking at ideas published July 19th - 25th. Take a look at what these less covered ideas might hold for you. And please join the conversation below to share what you think: are any of these worth following up on? Ticker Rating Analyst HE Sell Robert Honeywill "As long as a piece of string,” is an answer you ...

HONOLULU, July 26, 2024 (GLOBE NEWSWIRE) -- First Hawaiian, Inc. (NASDAQ:FHB), (“First Hawaiian” or the “Company”) today reported financial results for its quarter ended June 30, 2024. “I’m pleased to report our strong financial results for the second quarter,” said Bob Harrison, Chairman, President, and CEO.  “Our performance was driven by solid revenues, disciplined expense control and continued excellent credit quality. Additionally, we continued our support of the Maui community by partnering with the F ...

Partners since 2013, Hawaiian Airlines® and Barclays US Consumer Bank will continue their consumer and small business credit card programs in a multi-year agreement. WILMINGTON, Del., July 26, 2024 /PRNewswire/ -- Barclays US Consumer Bank, a leading credit card issuer and financial services partner, announced today the renewal of its decade-long co-branded credit card program with Hawai'i's largest and longest-serving airline, Hawaiian Airlines.Under the newly signed agreement, Barclays will continue to is ...

Key TakeawaysHawaiian Electric has tentatively agreed to settle hundreds of lawsuits related to its alleged negligence over the Maui wildfires, according to a Bloomberg report. Its stock jumped on the news. The company would be on the hook for at least $1.5 billion if the deal becomes official, the report said.The wildfires did more than $5.5 billion worth of damages and killed 100 last year. Hawaiian Electric Industries (HE) and others have reached a tentative deal to pay more than $4 billion to settle law ...

HONOLULU, July 16, 2024 /PRNewswire/ -- Hawaiian Holdings, Inc. (NASDAQ: HA), parent company of Hawaiian Airlines, Inc. ("Hawaiian"), plans to report its 2024 second quarter financial results after the market closes on Tuesday, July 30, 2024.  An investor conference call is scheduled for 4:30 p.m. EDT (10:30 a.m. HST) that day.The call will be open to all interested investors through a live audio webcast accessible in the Investor Relations section of Hawaiian's website at HawaiianAirlines.com. For those wh ...

SAN FRANCISCO, CA - JUNE 21: Alaska and Hawaiian Airlines planes takeoff at the same time from San ... [+] Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023. (Photo by Tayfun Coskun/Anadolu Agency via Getty Images)Anadolu Agency via Getty ImagesAlaska Airlines and Hawaiian Airlines have jointly filed two critical applications with the U.S. Department of Transportation in anticipation of the transaction completing their planned merger.In one filing, the airlin ...

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Hawaiian Holdings despite an increase in revenues, with the actual results being crucial for stock price movement [1] Financial Expectations - Hawaiian Holdings is expected to report a quarterly loss of $1.30 per share, reflecting a year-over-year change of -176.6% [2] - Revenues are projected to be $749.3 million, which is a 6% increase from the same quarter last year [2] Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [2] - The Most Accurate Estimate for Hawaiian Holdings is lower than the Zacks Consensus Estimate, leading to an Earnings ESP of -22.31%, suggesting a bearish sentiment among analysts [5] Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a strong Zacks Rank [4] - Hawaiian Holdings currently holds a Zacks Rank of 3, making it difficult to predict an earnings beat conclusively [6] Historical Performance - In the last reported quarter, Hawaiian Holdings was expected to post a loss of $2.75 per share but actually reported a loss of $2.77, resulting in a surprise of -0.73% [7] - Over the past four quarters, the company has only beaten consensus EPS estimates once [7] Conclusion - While an earnings beat or miss can influence stock movement, other factors also play a significant role [8] - Hawaiian Holdings does not appear to be a compelling candidate for an earnings beat, and investors should consider additional factors before making investment decisions [8]