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Gol Linhas (GOL) Expects 2022 Revenues to Double From 2021

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Gol Linhas Aereas Inteligentes GOL recently provided its financial outlook for 2022 (compared with 2019). With continued recovery in air-travel demand in Latin America, the company anticipates its 2022 total net revenues to exceed pre-pandemic (2019) levels.

Gol Linhas forecast total net revenues to be approximately R$14 billion in 2022, compared with R$13.9 billion in 2019. It expects the same to soar around 100% from the 2021 estimated level.

GOL expects air travel demand, measured in revenue passenger kilometers (RPKs), to be approximately 100 billion in 2022 on the domestic front. To meet this demand, the Brazilian airline plans to operate an average of 108 aircraft during the year.

Gol Linhas Aereas Inteligentes S.A. Price

Gol Linhas Aereas Inteligentes S.A. Price
Gol Linhas Aereas Inteligentes S.A. Price

Gol Linhas Aereas Inteligentes S.A. price | Gol Linhas Aereas Inteligentes S.A. Quote


With the acceleration of its fleet transformation, Gol Linhas expects to end 2022 with 44 Boeing MAX aircraft in its fleet. This includes the addition of 18 Boeing MAX aircraft in the second half of 2021 and 16 next year. The company expects to end the year with a total fleet (average) of 135-140 in 2022 compared with 126 in 2019.

Gol Linhas predicts average load factor (percentage of seats filled by passengers) to be approximately 82% in 2022, commensurate with the 2019 level. Ancillary revenues (net) are expected to be around R$0.8 billion, comparable with the 2019 level.

Gol Linhas projects non-fuel cost per available seat kilometers to decrease 8.3% in 2022 from the figure reported in 2019. Fuel liters consumed is expected to decline 12.2% in 2022. Fuel price per liter is estimated to increase 35.7% to R$3.8 in 2022. EBITDA margin is expected to be around 25% from 28% in 2019. EBIT margin is anticipated to be approximately 11% from 15% in 2019.

Gol Linhas estimates adjusted earnings per share, based on U.S.-traded American depositary shares, to decline 89.6% to 10 cents in 2022. The Zacks Consensus Estimate for the same stands at a loss of 40 cents.

Zacks Rank & Key Picks

Gol Linhas carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the broader Transportation sector are as follows:

Expeditors International of Washington EXPD sports a Zacks Rank #1 (Strong Buy). The company has a stellar earnings surprise history. It has beat the Zacks Consensus Estimate for earnings in each of the preceding four quarters, the average surprise being 29.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Expeditors have appreciated more than 39% so far this year.

Schneider National SNDR flaunts a Zacks Rank #1. The company’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 21%.

Shares of Schneider National have rallied more than 24% so far this year.

ArcBest Corporation ARCB sports a Zacks Rank #1. The company’s earnings have surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 27.4%.

Shares of ArcBest have surged more than 100% so far this year.


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Gol Linhas Aereas Inteligentes S.A. (GOL) : Free Stock Analysis Report

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Schneider National, Inc. (SNDR) : Free Stock Analysis Report

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