Air Canada reports results for the quarter ended June 30 - Earnings Summary

• Air Canada AC.TO reported quarterly adjusted earnings of 60 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 98 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 72 cents per share. Wall Street expected results to range from 42 cents to C$1.16 per share.

• Revenue rose 2% to C$5.63 billion from a year ago; analysts expected C$5.55 billion.

• Air Canada's reported EPS for the quarter was 51 cents​.

• The company reported quarterly net income of C$186 million.

• Air Canada shares had risen by 4.6% this quarter and lost 1.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 12.3% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy," 2 "hold" and no "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$25.00, about 11.8% above its last closing price of C$22.04

This summary was machine generated from LSEG data July 29 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)