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WestJet sees Q1 net earnings of $89 million, or 69 cents per diluted share

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Gregg Saretsky, president and CEO of WestJet, dances at the company\'s annual general meeting of shareholders in Toronto on Tuesday, May 6, 2014. THE CANADIAN PRESS/Darren Calabrese

CALGARY – WestJet (TSX:WJA) says it recorded first quarter net earnings of $89.3 million, or 69 cents per diluted share, compared to $91.1 million, or 68 cents per diluted share, in the same quarter last year.

“We had a very strong start to 2014, as we achieved our second best ever first quarter earnings,” said WestJet president and CEO Gregg Saretsky.

He added that the results represent a 36th consecutive profitable quarter and record earnings per share.

“Our continued track record of profitability combined with strong liquidity and solid market position contributed to Standard & Poor’s assigning WestJet an investment grade credit rating of BBB- this past February.”

WestJet says total revenue during the quarter totalled $1.042 billion, a gain of 7.7 per cent over the same period of 2013.

WestJet’s Board of Directors declared a cash dividend Monday of 12 cents per common voting share and variable voting share for the second quarter of 2014, to be paid on June 30.

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