Flash | 21 Jul 2026 20:22:07 ET │ 13 pages Volaris (VLRS.N) 2Q'26 Results: Solid and In-line Earnings, Offset by Guidance Softness CITI'S TAKE Net loss of -$127M was in line with Citi and consensus estimates. The overall print looked mixed in our view, with in-line earnings offset by weakness implied in guidance. 2Q results demonstrated the company's resiliency to fuel spikes, with yields responding positively to capacity rationality and driving EBITDAR margins to close the quarter better than expected and ...

Key Takeaways 2Q26 results. EBIT of -US$99m beat VA consensus (-US$117m) and MSe (-US $112m). EBITDAR of US$141m (16.3% margin) came well above Visible Alpha consensus of US$108m and beat our US$123m estimate by 14% — while D&A was broadly in line at US$175m (vs. US$178m consensus and US$177m MSe), aircraft and engine variable lease expense (the "R" add-back) was materially higher at US$65m (vs. US$47m consensus and US$58m MSe). Diluted EPADS of -US$1.11 was above consensus of -US$1.24 but came basically in ...

核心观点 - 公司最新季度每股亏损超出市场预期，且同比亏损扩大，但营收超出预期[1][2] - 公司股价年初至今表现显著弱于大盘，未来走势将取决于管理层评论及盈利预期修正趋势[3][4][5] - 公司当前获Zacks评级为“持有”，预期将与市场表现同步[6] - 行业整体前景（位于Zacks行业排名前列）及同业公司表现是影响公司股价的额外因素[8][9] 财务业绩表现 - **每股收益**：最新季度每股亏损1.11美元，高于Zacks一致预期的亏损1.08美元，构成-2.78%的盈利意外；去年同期每股亏损为0.54美元[1] - **营收表现**：最新季度营收为8.59亿美元，超出Zacks一致预期1.10%；去年同期营收为6.93亿美元[2] - **历史对比**：过去四个季度中，公司有两次超出每股收益预期，有两次超出营收预期[1][2] 市场表现与预期 - **股价表现**：公司股价自年初以来已下跌约12.5%，同期标普500指数上涨8.7%[3] - **未来盈利预期**： - 对下一季度的普遍预期为营收9.6125亿美元，每股亏损0.17美元[7] - 对本财年的普遍预期为营收35.5亿美元，每股亏损2.29美元[7] - **评级与展望**：基于盈利预期修正的混合趋势，公司股票当前Zacks评级为第3级（持有），预计短期内表现将与市场一致[6] 行业背景与同业 - **行业排名**：公司所属的交通运输-航空业，在Zacks 250多个行业中排名前31%[8] - **同业表现**：同业公司西南航空预计将于7月22日公布截至2026年6月的季度业绩，预期每股收益0.52美元，同比增长20.9%；过去30天内对该季度的普遍每股收益预期上调了20.9%[9] - **同业营收预期**：西南航空预期季度营收为85.8亿美元，较去年同期增长18.4%[10]