US Airways Group Earnings: Profit Rises Year-Over-Year

US Airways Group Inc. (NYSE:LCC) reported its results for the second quarter. US Airways Group is a holding company that operates a major network air carrier through its wholly owned subsidiaries US Airways, Piedmont, PSA, MSC, and Airways Assurance Limited.

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US Airways Group Inc. Earnings Cheat Sheet

Results: Net income for US Airways Group Inc. rose to $306 million ($1.54 per share) vs. $92 million (49 cents per share) in the same quarter a year earlier. This is a more than threefold rise from the year-earlier quarter.

Revenue: Rose 8.5% to $3.8 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: US Airways Group Inc. was about in line with expectations as the mean analyst estimate of $1.55 per share. Analysts were expecting revenue of $3.75 billion.

Quoting Management: US Airways Group, Inc. Chairman and CEO Doug Parker stated, “We are extremely pleased to report the highest quarterly profit in our company’s history. Consumer demand for our product remained strong during the second quarter, resulting in record revenue, passenger yields, and unit revenue performance.

“These results speak volumes about the collective efforts of our 32,000 employees, who continue to run an outstanding airline for our customers. Thanks to their hard work, we have set numerous Company records in operating reliability, including our best-ever year-to-date performance in on-time arrivals, baggage handling and completion factor.

Key Stats:

Revenue has risen for the last four quarters. Revenue increased 10.3% to $3.27 billion in the first quarter. The figure rose 8.5% in the fourth quarter of the last fiscal year from the year earlier and climbed 8.1% in the third quarter of the last fiscal year from the year-ago quarter.

After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the first quarter, it topped the mark by 10 cents, and in the fourth quarter of the last fiscal year, it was ahead by 12 cents.

Looking Forward: Next quarter’s results are expected to be more favorable for the company. Over the past sixty days, the average estimate for the third quarter has reached $1.32 per share, up from 83 cents. The average estimate for the fiscal year is $3.29 per share, a rise from $2.14 ninety days ago.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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