Virgin America (VA) Beats on Q1 Earnings
Low-cost airline Virgin America VA, which went public in Nov 2014, is based in California. The company is partly owned by British billionaire investor Richard Branson.
Zacks Rank: Currently, Virgin America has a Zacks Rank #3 (Hold) but that could change following the company's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Virgin America's earnings (excluding special items) of $0.41 per share beat the Zacks Consensus Estimate of $0.36. Results were aided by low fuel costs.
Revenue: Operating Revenues came in at $364 million surpassing the Zacks Consensus Estimate of $362 million. Revenues improved 11.5% from the year-ago figure.
Key Stats: Capacity increased 15.8% on a 15.9% rise in traffic during the quarter. Load factor (% of seats filled by passengers) came in flat on a year-over-year basis at 80.1%. Passenger revenue per available seat mile (PRASM: a measure of unit revenue) declined 3.8% to 9.88 cents in the reported quarter. Total RASM decreased 3.7% in the first quarter of 2016. Yield per passenger mile declined 3.7%.
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VIRGIN AMERICA (VA): Free Stock Analysis Report
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