U.S. Airways' Shares Rise on Earnings Beat


U.S. Airways Group Inc. (NYSE: LCC) reported fourth-quarter and full-year 2012 results before markets opened this morning. For the quarter, the airlines posted adjusted diluted earnings per share (EPS) of $0.26 on revenues of $3.28 billion. In the same period a year ago, the company reported EPS of $0.13 on revenues of $3.16 billion. Today's results also compare to the Thomson Reuters consensus estimates for EPS of $0.19 and $3.28 billion in revenues.

For the full year, U.S. Airways reported EPS of $2.79 on revenues of $13.83 billion, compared with EPS of $0.68 on revenues of $13.06 billion a year ago. The consensus estimates called for $2.71 EPS on revenues of $13.82 billion.

On a GAAP basis, the airlines posted quarterly EPS of $0.22 and full-year EPS of $3.28.

The company said that revenues took a hit of $35 million in the fourth quarter and full year as a result of Hurricane Sandy.

The company's CEO said:

These outstanding operating and revenue results combined with strong cost discipline led to record net income excluding special items of $537 million, up nearly 400 percent versus last year. Our shareholders were rewarded for their confidence in our team as US Airways stock increased 166 percent in 2012, the largest increase of any company in the Fortune 500.

The company will provide guidance during its conference call later this morning. The consensus EPS estimate for first quarter is $0.05, on revenues of $3.37 billion. For the full year, the consensus estimate calls for EPS of $3.17 on revenues of $14.42 billion.

U.S. Air's shares are up about 2.7% in premarket trading this morning, at $15.25 in a 52-week range is $6.11 to $15.50. Thomson Reuters had a consensus analyst price target of around $17.70 before today's report.

Filed under: 24/7 Wall St. Wire, Airlines, Earnings Tagged: LCC

Originally published