US Airways Group, Inc. (NASDAQ:LCC) reported its results for the first quarter. US Airways Group, Inc. is a holding company, whose main business activity is the operation of a major network air carrier, through its wholly owned subsidiaries US Airways, Piedmont, PSA, MSC and Airways Assurance Limited.
US Airways Group Earnings Cheat Sheet for the First Quarter
Results: Loss widened to $114 million (71 cents/diluted share) from $45 million or a loss of 28 cents/share.
Revenue: Rose 11.7% to $2.96 billion YoY.
Actual vs. Wall St. Expectations: LCC beat the mean analyst estimate of a loss of 72 cents/share. Estimates ranged from a loss of 44 cents per share to a loss of 89 cents per share.
Quoting Management: US Airways Group, Inc. Chairman and CEO Doug Parker stated, “Our first quarter results were clearly impacted by the extremely high price of oil, but our team did an exceptional job of managing to largely offset that impact. Demand for our product was strong and unit revenues increased more than eight percent. We also continued to keep our non-fuel expenses in check as evidenced by a year-over-year decline in our mainline non-fuel unit costs.”
Key Stats: LCC’s (NYSE:LCC) loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $27 million in the fourth quarter of the last fiscal year, a profit of $240 million in the third quarter of the last fiscal year and $279 million in the second of the last fiscal year.
Competitors to Watch: Delta Air Lines, Inc. (NYSE:DAL), AMR Corporation (NYSE:AMR), Southwest Airlines Co. (NYSE:LUV), JetBlue Airways Corp. (NASDAQ:JBLU), Alaska Air Group, Inc. (NYSE:ALK), United Continental Hldgs., Inc. (NYSE:UAL), Republic Airways Hldgs. Inc. (NASDAQ:RJET), AirTran Holdings, Inc. (NYSE:AAI), Hawaiian Holdings, Inc. (NASDAQ:HA), priceline.com (NASDAQ:PCLN), Expedia (NASDAQ:EXPE), Travelzoo (NASDAQ:TZOO) and Pinnacle Airlines Corp. (NASDAQ:PNCL).
Today’s Performance: Shares of LCC are trading at $8.74 as of April 26, 2011 at 11:46 AM ET, up 5.92% from the previous closing price of $8.28.