Provided by WESTJET, an Alberta Partnership/CNW
CALGARY, May 7, 2019 /CNW/ – WestJet (TSX: WJA) today announced its first quarter results for 2019, with net earnings of $45.6 million, or $0.40 per fully diluted share compared with net earnings of $34.2 million, or $0.30 per fully diluted share reported in the first quarter of 2018.
“We remain confident in our strategic direction and continue to see positive trends as a result of our prudent growth and the strategic initiatives we are undertaking.” said Ed Sims, WestJet President and CEO. “I want to thank all of our guests for their continued loyalty and all WestJetters for their on-going commitment to providing an award-winning service through a busy first quarter.”
Operating highlights (stated in Canadian dollars)
| Q1 2019 | Q1 2018 | Change | |
| Net earnings (millions) | $45.6 | $34.2 | 33.4% |
| Diluted earnings per share | $0.40 | $0.30 | 33.3% |
| Total revenue (millions) | $1,257.7 | $1,191.7 | 5.5% |
| Operating margin | 4.8% | 5.1% | (0.3 pts) |
| ASMs (available seat miles) (billions) | 8.456 | 8.029 | 5.3% |
| RPMs (revenue passenger miles) (billions) | 7.168 | 6.810 | 5.3% |
| Load factor | 84.8% | 84.8% | 0.0 pts |
| Segment guests | 6,282,781 | 6,088,954 | 3.2% |
| Yield (revenue per revenue passenger mile) (cents) | 17.55 | 17.50 | 0.3% |
| RASM (revenue per available seat mile) (cents) | 14.87 | 14.84 | 0.2% |
| CASM (cost per available seat mile) (cents) | 14.16 | 14.08 | 0.6% |
| Fuel costs per litre (cents) | 77 | 73 | 5.5% |
| CASM, excluding fuel and employee profit share (cents)* | 10.59 | 10.50 | 0.9% |
| *Refer to reconciliations in the accompanying tables for further information regarding calculations. |
Note: All values in the above table are at a consolidated WestJet group level
Dividend declaration
On May 6, 2019, WestJet’s Board of Directors declared a cash dividend of $0.14 per common voting share and variable voting share for the second quarter of 2019, to be paid on June 28, 2019, to shareholders of record on June 12, 2019. All dividends paid by WestJet are, pursuant to subsection 89(14) of the Income Tax Act, designated as eligible dividends, unless indicated otherwise. An eligible dividend paid to a Canadian resident is entitled to the enhanced dividend tax credit.