People look on as an Air Transat plane takes off at Trudeau in Montreal, Sunday, June 11, 2023. Transat AT Inc. reported a third-quarter profit of $57.3 million compared with a loss of $106.5 million in the same quarter last year. THE CANADIAN PRESS/Graham Hughes
MONTREAL – Transat AT Inc. reported a third-quarter profit of $57.3 million compared with a loss of $106.5 million in the same quarter last year.
The travel company says the profit amounted to $1.49 per diluted share for the quarter ended July 31, up from a loss of $2.82 per diluted share a year earlier.
Revenue for the quarter totalled $746.3 million, up from $508.3 million in the same quarter last year.
On an adjusted basis, Transat says it earned $1.10 per share in its most recent quarter, up from an adjusted loss of $3.20 per share a year earlier.
The average analyst estimate had been for an adjusted loss of nine cents per share, according to estimates compiled by financial markets data firm Refinitiv.
In its outlook for the year, Transat raised its target for adjusted earnings before interest, taxes, depreciation and amortization margin to between 7.5 per cent to eight per cent, up from a range of 5.5 per cent to seven per cent.
This report by The Canadian Press was first published Sept. 14, 2023.
Companies in this story: (TSX:TRZ)
