Copa Holdings Reports Net Income of $103.8 Million and EPS of $2.45 For The Third Quarter of 2017

Published on : Thursday, November 9, 2017

Copa AirlinesCopa Holdings, S.A., today announced financial results for the third quarter of 2017 (3Q17). The terms “Copa Holdings” and “the Company” refer to the consolidated entity.  The following financial information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS). See the accompanying reconciliation of non-IFRS financial information to IFRS financial information included in the financial tables section of this earnings release. Unless otherwise stated, all comparisons with prior periods refer to the third quarter of 2016 (3Q16).

 

 

OPERATING AND FINANCIAL HIGHLIGHTS

 

 

 

 

 

 

 

 

Subsequent Events

 

Consolidated Financial
& Operating Highlights

3Q17

3Q16

Variance vs. 3Q16

2Q17

Variance vs. 2Q17

Revenue Passengers Carried (‘000)

2,518

2,231

12.9%

2,262

11.3%

RPMs (mm) 

5,330

4,637

14.9%

4,766

11.8%

ASMs (mm) 

6,221

5,506

13.0%

5,796

7.3%

Load Factor 

85.7%

84.2%

1.5 p.p.

82.2%

3.4 p.p.

Yield

12.0

11.9

1.3%

11.8

2.1%

PRASM (US$ Cents) 

10.3

10.0

3.1%

9.7

6.4%

RASM (US$ Cents) 

10.6

10.3

2.4%

10.0

5.9%

CASM (US$ Cents) 

8.6

8.9

-3.2%

8.5

1.2%

CASM Excl. Fuel (US$ Cents) 

6.3

6.4

-1.2%

6.3

0.3%

Fuel Gallons Consumed (Millions) 

80.0

70.9

12.8%

74.1

7.9%

Avg. Price Per Fuel Gallon (US$ Dollars)

1.82

1.98

-8.0%

1.77

3.3%

Average Length of Haul (Miles)

2,117

2,079

1.8%

2,107

0.5%

Average Stage Length (Miles)

1,300

1,192

9.1%

1,259

3.2%

Departures

32,593

30,737

6.0%

31,092

4.8%

Block Hours

108,930

97,077

12.2%

102,435

6.3%

Average Aircraft Utilization (Hours)

11.7

10.5

11.7%

11.2

4.6%

Operating Revenues (US$ mm) 

657.2

568.3

15.6%

578.1

13.7%

Operating Income (US$ mm)

119.1

76.4

55.9%

83.0

43.6%

Operating Margin 

18.1%

13.4%

4.7 p.p.

14.4%

3.7 p.p.

Net Income (US$ mm)

103.8

74.0

40.2%

63.0

64.8%

Adjusted Net Income (US$ mm) (1)

100.8

55.3

82.4%

62.8

60.6%

EPS – Basic and Diluted (US$)

2.45

1.75

40.0%

1.49

64.7%

Adjusted EPS – Basic and Diluted (US$) (1)

2.38

1.30

82.2%

1.48

60.5%

# of Shares – Basic and Diluted (‘000) 

42,430

42,374

0.1%

42,419

0.0%

 

Source:- Copa Airlines

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