Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Hawaiian Holdings (NASDAQ:HA), owner of Hawaiian Airlines, jumped 13.7% today after the company reported second-quarter earnings.
So what: Revenue was up 7.8% compared to last year in the quarter to $575.7 million, and generally accepted accounting principles net income more than doubled to $27.3 million, or $0.43 per share. On an adjusted basis, which Wall Street normally uses, earnings were $0.35 per share, versus analysts' $0.33 estimate.
Now what: Importantly, revenue per available seat mile was up 4.1% in the quarter and management expects that strong trend to continue. Third-quarter guidance calls for 3%-6% operating revenue per seat mile growth compared to 1%-4% cost growth. Given the operational momentum and the high rates Hawaiian Airlines garners from paying customers, this is one of the better long-term plays in the industry.
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Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.