VLRS - Controladora Vuela Compañía de Aviación S.A.B. de C.V. reports Q3 mixed earnings; updates FY22 guidance
- Controladora Vuela Compañía de Aviación, S.A.B. de C.V. press release ( NYSE: VLRS ): Q3 GAAP EPADS of $0.30 beats by $0.42 .
- Revenue of $769M (+20.2% Y/Y) misses by $27.58M .
- Total revenue per available seat mile decreased 2.4% to $8.2 cents.
- ASMs grew by 22% for the third quarter compared to 2021 and by 48% compared to 2019.
- Volaris transported 8.1M passengers in the quarter, an increase of 22.2%.
- EBITDAR was $175M, a decrease of 33%, negatively impacted by higher fuel and landing, take-offs, and navigation expenses. EBITDAR margin was 22.8%, a decrease of 18.1% points.
- Cash, cash equivalents and restricted cash position totaled $750M, representing 28% of the last twelve months' total operating revenue.
- Net debt-to-LTM EBITDAR ratio of 3.4 times.
- Volaris' full year 2022 guidance : ASM growth of 25% compared to 2021; Operating revenue in the range of $2.8 to $3.0 billion vs. consensus of $2.90B; CASM ex-fuel increase of approximately 1% compared to 2021; EBITDAR margin in the low twenties and finally, CAPEX of $145M.
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Controladora Vuela Compañía de Aviación, S.A.B. de C.V. reports Q3 mixed earnings; updates FY22 guidance