Air Canada reports results for the quarter ended March 31 - Earnings Summary

• Air Canada AC.TO reported a quarterly adjusted loss of 45 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of -27 cents. The mean expectation of fifteen analysts for the quarter was for a loss of 54 cents per share. Wall Street expected results to range from -66 cents to -29 cents per share.

• Revenue fell 0.6% to C$5.20 billion from a year ago; analysts expected C$5.29 billion.

• Air Canada's reported EPS for the quarter was a loss of 40 cents​.

• The company reported a quarterly loss of C$102 million.

• Air Canada shares had risen by 8.0% this quarter and lost 31.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 62.4% in the last three months.​

• In the last 30 days, six analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy," 2 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the airlines peer group is also "buy"

• Wall Street's median 12-month price target for Air Canada is C$23.00

This summary was machine generated from LSEG data May 9 at 01:31 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)