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Global Crossing Airlines (TSE:JET)
NEO-L:JET
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Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.03Last Year’s EPS
-0.06Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Aug 25, 2021
|% Change Since: 0.00%
|Next Earnings Date:Apr 30, 2021
Earnings Call Sentiment|Neutral
The earnings call highlighted strong revenue growth and expansion in the ACMI business with record block hours and a positive outlook for the full year. However, it also pointed out significant challenges, such as fleet disruptions and declines in charter and cargo utilization, alongside a flat net loss and reduced cash position.Company Guidance
In the third quarter of 2024, Global Crossing Airlines demonstrated resilience in overcoming operational challenges and delivering growth. Despite losing approximately 35% of its fleet due to unforeseen maintenance issues, the airline achieved a 23% year-over-year increase in revenue to $52.4 million, driven by a significant rise in ACMI revenue, which almost doubled to $37 million. The airline booked a record 8,064 block hours, a 17% increase from the previous year, and although charter revenue decreased by 31% to $15 million, the strategic shift towards higher-margin ACMI operations showed promise. The company reported an EBITDAR of $15.4 million, nearly doubling from the prior year, supported by a 37% increase in average revenue per ACMI block hour to $5,607. Looking ahead, Global Crossing Airlines anticipates annual revenues of $218 million to $224 million, representing a 34% to 40% increase over 2023, with a focus on expanding its fleet and enhancing its operational efficiency to capture future growth opportunities.Double-Digit Revenue Growth
Global Crossing Airlines delivered double-digit revenue growth with record block hours flown. Revenue in the third quarter increased 23% to $52.4 million compared to $42.6 million in the year-ago period.
ACMI Business Growth
The ACMI business almost doubled to $37 million in revenue compared to the year-ago quarter, driven by an increase in fleet, strong customer demand, and growth in a key government agency relationship.
Record Block Hours
The company booked a record 8,064 block hours, a 17% increase compared to the year ago period. ACMI block hours increased 42% compared to Q3 of 2023.
Strong EBITDAR Growth
EBITDAR increased approximately 2x to $15.4 million compared to $7.6 million in the year-ago quarter, driven primarily by the increase in revenue and improved operating margins.
Positive Outlook for Full Year 2024
Forecasting annual revenues of $218 million to $224 million, representing a 34% to 40% increase compared to full year 2023. EBITDAR for the year is projected to grow 195% to 215% over full year 2023.
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TSE:JET Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:JET Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | C$1.36 | C$1.36 | 0.00% |
| Aug 13, 2024 | C$1.36 | C$1.36 | 0.00% |
| May 07, 2024 | C$1.36 | C$1.36 | 0.00% |
| Mar 06, 2024 | C$1.36 | C$1.36 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Global Crossing Airlines (TSE:JET) report earnings?
Global Crossing Airlines (TSE:JET) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Global Crossing Airlines (TSE:JET) earnings time?
Global Crossing Airlines (TSE:JET) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:JET EPS forecast?
TSE:JET EPS forecast for the fiscal quarter 2024 (Q4) is -0.03.
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