PHOENIX (AP) _ Mesa Air Group Inc. (MESA) on Thursday reported fiscal third-quarter net income of $3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Phoenix-based company said it had net income of 9 cents. Earnings, adjusted for non-recurring costs, came to 30 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The regional airline posted revenue of $180.2 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $182.3 million.
Mesa Air shares have increased 27% since the beginning of the year.