Volaris (VLRS) Reports Q1 Miss on Revenues

Volaris (NYSE: VLRS) reported Q1 EPS of ($0.60), $0.42 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $319 million versus the consensus estimate of $336.37 million.

First Quarter 2018 Highlights

• Total operating revenues reached Ps.5,850 million for the first quarter, an increase of 2.7% year over year.
• Total ancillary revenues were Ps.1,965 million for the first quarter, an increase of 17.4% year over year. The total ancillary revenues per passenger for the first quarter were Ps.461, increasing 9.1% year over year.
• Total operating revenues per available seat mile (TRASM) were Ps.115.7 cents for the first quarter, a decrease of 7.7% year over year.
• Operating expenses per available seat mile (CASM) were Ps.133.7 cents for the first quarter, a decrease of 5.4% year over year; with an average economic fuel cost per gallon of Ps. 40.1, increasing 8.0% year over year, and an average exchange rate of Ps.18.76, a year over year decrease of 8.0%. Operating expenses per available seat mile excluding fuel (CASM ex fuel) were Ps. 90.6 cents for the first quarter, a decrease of 9.1% year over year.
• Net loss was Ps.1,118 million (Ps.1.11 per share / US$0.60 per ADS) for the first quarter, with a net loss margin of 19.1%.
• Net cash flow provided by operating activities was Ps.1,093 million, in conjunction with cash flow used in investing activities of Ps.313 million, net cash flow provided by financing activities of Ps. 65 million, and a negative net foreign exchange differences of Ps.478 million, the net cash generation in the first quarter was Ps.366 million. As of March 31, 2018, cash and cash equivalents were Ps.7,317 million.

For earnings history and earnings-related data on Volaris (VLRS) click here.

You May Also Be Interested In

• Royal Caribbean (RCL) tops Q1 expectations, raises full-year earnings guidance
• Expro Group Holdings N.V. (XPRO) Reports In-Line Q1 EPS, provides guidance
• Wex, Inc. (WEX) Misses Q1 EPS by 2c, provides guidance