US Airways Group Earnings: Here’s Why Investors are Happy Now
US Airways Group, Inc. (NYSE:LCC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.83%.
US Airways Group, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 1.86% to $1.58 in the quarter versus EPS of $1.61 in the year-earlier quarter.
Revenue: Rose 2.96% to $3.87 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: US Airways Group, Inc. reported adjusted EPS income of $1.58 per share. By that measure, the company beat the mean analyst estimate of $1.51. It beat the average revenue estimate of $3.84 billion.
Quoting Management: “These record financial results are thanks to the 32,000 team members of US Airways who delivered record results on multiple fronts,” said US Airways Chairman and CEO Doug Parker. “This performance provides excellent momentum as we transition into the new American Airlines. The teams are working very well together and we continue to expect to close the merger in the third quarter.”
Key Stats (on next page)…
Revenue increased 13.08% from $3.42 billion in the previous quarter. EPS increased 409.68% from $0.31 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.82 to a profit $0.75. For the current year, the average estimate has moved up from a profit of $2.98 to a profit of $3 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)