Tuesday, 29 October 2019

WestJet reports its second-highest ever third quarter net earnings

WestJet announced its third-quarter results for 2019, with net earnings of $119.4 million, or $1.02 per fully diluted share compared with net earnings of $70.1 million, or $0.61 per fully diluted share reported in the third quarter of 2018, a year-over-year increase of 70.4 per cent and 67.2 per cent respectively.

"We are very pleased with these remarkable results, achieving our highest ever third-quarter load factor, second-highest ever third-quarter net earnings and the third-highest quarterly net earnings in WestJet's history," said Ed Sims, WestJet President and CEO. "These results would not have been possible without the continued energy and dedication of all 14,000 WestJetters in delivering our award-winning brand of friendly and caring service through the busy summer period. I also want to thank the almost seven million guests who travelled with us in the third quarter for their continued support."

Operating highlights* (stated in Canadian dollars)

Q3 2019
Q3 2018
Change
Net earnings (millions)
$119.4
$70.1
70.4%
Diluted earnings per share
$1.02
$0.61
67.2%
Total revenue (millions)
$1,392.9
$1,260.9
10.5%
Operating margin
13.5%
8.0%
5.5 pts.
ASMs (available seat miles) (billions)
8.838
8.880
(0.5%)
RPMs (revenue passenger miles) (billions)
7.671
7.517
2.1%
Load factor
86.8%
84.6%
2.2 pts.
Segment guests
6,812,228
6,940,569
(1.8%)
Yield (revenue per revenue passenger mile) (cents)
18.16
16.78
8.2%
RASM (revenue per available seat mile) (cents)
15.76
14.20
11.0%
CASM (cost per available seat mile) (cents)
13.64
13.06
4.4%
Fuel costs per litre (cents)
76
85
(10.6%)
CASM, excluding fuel and employee profit share (cents)*
9.96
9.10
9.5%

*Refer to reconciliations in the accompanying tables for further information regarding calculations.





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