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WestJet report ‘best ever’ quarter as profits rise 33.3%; revenue up 8.6%
CALGARY – WestJet (TSX:WJA) is reporting its “best ever” quarterly earnings.
The Calgary-based airline says its first-quarter net income rose 33.3 per cent to $91.1 million or 68 cents per share. That compared with net earnings of $68.3 million or 49 cents per share in the same 2012 period.
Total revenue was up 8.6 per cent at $967.2 million from $891 million a year ago.
These results mark WestJet’s 32nd consecutive quarter of profitability.
Based on the trailing 12 months, the airline achieved a return on invested capital of 14.3 per cent, up from the 13.7 per cent reported in the previous quarter
“We are very pleased to report our best ever quarterly earnings and for the third consecutive quarter we exceeded our 12 per cent ROIC target by achieving 14.3 per cent,” WestJet president and CEO Gregg Saretsky said in releasing the company’s earnings report Tuesday.
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