Air Canada beats expectations with $115M adjusted profit

Discussion in 'Air Canada | Aeroplan' started by tcook052, Aug 7, 2013.  |  Print Topic

  1. tcook052
    Original Member

    tcook052 Silver Member

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    http://www.cbc.ca/news/business/story/2013/08/07/business-air-canada.html

    Air Canada is reporting $115 million of adjusted net income in the second quarter, a big improvement from a year earlier and far better than analysts were expecting.

    The Montreal-based airline says its operating revenue for the three months ended June 30 totalled $3.06 billion, a second-quarter record for Air Canada and up from $2.99 billion a year earlier and slightly better than analyst estimates.

    The adjusted profit amounted to 41 cents per share, an improvement from a year-earlier adjusted net loss of $7 million, or two cents per share.
     
  2. http://aircanada.mediaroom.com/index.php?s=43&item=677
    http://www.theglobeandmail.com/repor...ticle13629087/

    This is the only part of their report that should be considered as a FF'er and possibly a pass buyer:
    Liquidity Highlights
    At June 30, 2013, cash and short-term investments amounted to $2,107 million or 17 per cent of 12-month trailing revenues (June 30, 2012 - $2,323 million or 20 per cent of 12-month trailing revenues).
    At June 30, 2013, adjusted net debt of $3,975 million decreased $162 million from December 31, 2012, mainly reflecting the impact of an increase in cash balances.
    Free cash flow of $147 million decreased $86 million from the second quarter of 2012, largely reflecting the addition of one Boeing 777 aircraft, partly offset by an increase in cash flows from operating activities due to better operating results.
     
  3. Also, a look at the TOBB on the AC results indicates the ill informed class is still well in control of dialogue over there.
     
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  4. milchap
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    milchap Gold Member

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    Stay away from TOBB.....it's better for your blood pressure ! :p
     
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  5. The opposite. Its good for a laugh!!:D Besides the censorship board over there likes to drop anything positive that's said. They prefer to accommodate whiners, soap opera types and people who don't even fly AC. And then there are the soap opera financial whizzes!!:rolleyes:
     
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  6. YEGman

    YEGman Silver Member

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    parnel is banned from FT yet he lurks there constantly.
     
  7. I read through the full MD&A plus the income statement. AC is trending to be in really good shape if fares stay up and people continue to fill their planes. they are talking about a 9/10% increase in BIS for next year and will start taking delivery of the dream liners. The market has reacted accordingly and awarded them with a share price increase.

    From the passenger perspective, on time arrivals and departures are up up dramatically and service, at least in the J cabin has also improved a lot since the beginning of this year. Having now flown over 130K Q miles on AC metal so far this year I can really see the differences especially on their long haul International services.
     
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  9. tomh009
    Original Member

    tomh009 Gold Member

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    I'm happy to see financial stability.

    But I don't really see a difference in service between 2012 and 2013, either in J or Y. Not that I'm complaining about it in either class.
     
  10. Some of the loony fringe on TOBB seem to think AC is going down tomorrow aminly because they can't read a financial statement
    I have flown mostly long haul international and cross country domestically this year and I have noted a positive difference
     
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