Shares of Hawaiian Holdings (NASDAQ: HA) traded down 9.7% midday on Wednesday, and closed down more than 7%, following the airline's third-quarter earnings release. Hawaiian actually outperformed expectations, but investors were focused on the competitive pressures the airline expects to face in the months to come.
After markets closed Tuesday, Hawaiian reported adjusted earnings of $1.72 per share, beating the consensus estimate by $0.03, on revenue that at $755 million was largely in line with estimates. Revenue was down slightly year over year, a reflection of the pricing pressure Hawaiian Airlines is facing as rivals including Southwest Airlines increase capacity to the islands.
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