HA - Hawaiian Airlines parent reports wider Q2 loss issues FY 2022 guidance; stock falls

Shares of Hawaiian Holdings ( NASDAQ: HA ), the parent company of Hawaiian Airlines, lost as much as 11.3% to $13.31 in Wednesday trading after the company reported a wider loss for Q2 on the back of a huge jump in operating expenses and issued guidance for FY.

HA after hours on Tuesday posted a GAAP EPS of -$0.72 for Q2 compared to a GAAP EPS of -$0.12 last year. Non-GAAP EPS of -$0.90 missed estimates by $0.04 .

The wider GAAP loss for Hawaiian ( HA ) was due to total operating expenses jumping 83% Y/Y to $717.95M, with aircraft fuel expenses nearly tripling from a year ago as oil prices soared.

HA's Q2 revenue increased 68.2% Y/Y to $691M, which beat expectations by $21.03M . Revenue was helped by strong demand in the airline's domestic network and signs of recovery in its international network.

The company also issued guidance for FY 2022 for the first time, having suspended such forecast in Q1 due to the uncertainty related to its international markets.

HA sees its available seat miles (ASMs), or capacity, to be down 8% to 11% in FY 2022. It also sees its costs per available seat mile (CASM) excluding fuel to be up 12% to 15% for FY.

For Q3, HA sees ASMs to be down 5% to 8%, total revenue to be down 3.5% to up 0.5%, and CASM excluding fuel to be up 8% to 12%.

Up to Tuesday's close, Hawaiian Holdings ( HA ) stock is down 18.3% YTD. It was last trading -4.7% as of 1357 ET.

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