WestJet reports a 33.4% increase in first quarter net earnings

WestJet Airlines Boeing 787-9 Dreamliner C-GUDO (msn 64976) YYZ (TMK Photography). Image: 946441.

WestJet today announced its first quarter results for 2019, with net earnings of $45.6 million, or $0.40 per fully diluted share compared with net earnings of $34.2 million, or $0.30 per fully diluted share reported in the first quarter of 2018.

“We remain confident in our strategic direction and continue to see positive trends as a result of our prudent growth and the strategic initiatives we are undertaking.” said Ed Sims, WestJet President and CEO. “I want to thank all of our guests for their continued loyalty and all WestJetters for their on-going commitment to providing an award-winning service through a busy first quarter.”

Operating highlights (stated in Canadian dollars)

Q1 2019 Q1 2018 Change
Net earnings (millions) $45.6 $34.2 33.4%
Diluted earnings per share $0.40 $0.30 33.3%
Total revenue (millions) $1,257.7 $1,191.7 5.5%
Operating margin 4.8% 5.1% (0.3 pts)
ASMs (available seat miles) (billions) 8.456 8.029 5.3%
RPMs (revenue passenger miles) (billions) 7.168 6.810 5.3%
Load factor 84.8% 84.8% 0.0 pts
Segment guests 6,282,781 6,088,954 3.2%
Yield (revenue per revenue passenger mile)
(cents)
17.55 17.50 0.3%
RASM (revenue per available seat mile)
(cents)
14.87 14.84 0.2%
CASM (cost per available seat mile) (cents) 14.16 14.08 0.6%
Fuel costs per litre (cents) 77 73 5.5%
CASM, excluding fuel and employee profit
share (cents)*
10.59 10.50 0.9%
*Refer to reconciliations in the accompanying tables for further information regarding calculations.

Top Copyright Photo: WestJet Airlines Boeing 787-9 Dreamliner C-GUDO (msn 64976) YYZ (TMK Photography). Image: 946441.

WestJet aircraft slide show:

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