Surf Air Mobility Inc. (SRFM) Reports Q3 Loss, Tops Revenue Estimates

Core Insights - Surf Air Mobility Inc. reported a quarterly loss of $0.94 per share, better than the Zacks Consensus Estimate of a loss of $1.05, and a significant improvement from a loss of $6.44 per share a year ago, indicating a 85.4% year-over-year improvement [1] - The company achieved revenues of $28.39 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 8.30% and showing a 29.1% increase from $21.97 million in the same quarter last year [2] - The stock has underperformed significantly, losing about 83.1% since the beginning of the year, while the S&P 500 has gained 25.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$1.19 on revenues of $32.71 million, and for the current fiscal year, it is -$7.07 on revenues of $121.9 million [7] - The estimate revisions trend for Surf Air Mobility Inc. is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Transportation - Airline industry, to which Surf Air Mobility Inc. belongs, is currently ranked in the top 6% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% of industries [8] - Copa Holdings, another company in the same industry, is expected to report quarterly earnings of $3.48 per share, reflecting a year-over-year decline of 20.7%, with revenues anticipated to be $860.34 million, down 0.9% from the previous year [9][10]