HA - Hawaiian Holdings stock slumps on negative full-year guide

Hawaiian Holdings ( NASDAQ: HA ) stock lost altitude on Wednesday after posting a mixed earnings release and offering a lackluster full year forecast.

For the final quarter of the fiscal year, the airline notched a $0.49 per share loss, beating estimates by $0.21, while $731.04M in revenue narrowly missed expectations. Pre-tax margins eroded 8.6% as compared to 2019 on a GAAP basis.

Moving forward, the carrier expects available seat miles to be up 9.5% to 12.5%, while costs per available seat mile excluding fuel and non-recurring items to be up 1% to 5%. Management added that 2023 will be colored by “significant challenges” in the airline’s core markets.

“Despite the removal of COVID travel restrictions in October, Japanese travelers have not yet resumed international travel at a pace comparable to pre-pandemic levels,” CEO Peter Ingram explained. “While we remain confident that with time the long standing affinity of Japanese travelers for a Hawaii vacations will manifest, we also need to be pragmatic in putting capacity elsewhere if recovery remains slow.”

Shares of the Honolulu-based air carrier slumped 14.89% during Wednesday’s trading.

Read the earnings call transcript .

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