Air Canada's 2Q Earnings Beat Expectations; Turnaround Efforts Starting to Materialize
No-moat airline Air Canada posted second-quarter results that beat consensus expectations and featured higher revenue and higher profits primarily because of 13.5% capacity growth and strong demand in a stable fuel and pricing environment. While we continue to like the ongoing turnaround at the carrier coupled with management’s growth plan, we believe the shares are slightly overvalued. We are maintaining our no-moat rating and fair value estimate of CAD 18 per share.Revenue increased 13% year ...
Air Canada is a domestic and international airline Company. Co. is engaged in the provision of scheduled passenger services in the Canadian market, the Canada-United States transborder market and in the international market to and from Canada. Through its subsidiaries, Co. also operates in low-cost carriers segment, providing service to customers in lower density markets and also in higher density markets at off-peak times throughout Canada and the United States. Co. also provides air cargo services on domestic and the U.S. transborder flights; tour operator services which operate in the outgoing leisure travel market; and ground handling services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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