WestJet reports all-time high quarterly net earnings

The FINANCIAL — WestJet on May 4 announced its first quarter results for 2015, with record net earnings of $140.7 million, or $1.09 per diluted share.

This compares with the net earnings of $89.3 million, or $0.69 per diluted share reported in the first quarter of 2014, up 57.6 per cent and 58.0 per cent, respectively. WestJet achieved an on-time performance rate of 78.0 per cent in the first quarter, a year-over-year improvement of 10.1 percentage points. Based on the trailing twelve months, the airline achieved a return on invested capital of 15.8 per cent, compared with the 14.3 per cent reported in the previous quarter, according to WestJet.

“We started 2015 with a record quarter as we achieved our best ever quarterly net earnings and earnings per share, exceeded our 12 per cent ROIC target for the 11th consecutive quarter by achieving an all-time high of 15.8 per cent, and saw our operating margin expand by 5.6 percentage points to 18.2 per cent,” said WestJet President and CEO Gregg Saretsky. “I thank our more than 10,000 WestJetters for the passion and positivity they exhibit every day as they remain focused on providing our guests with a remarkable experience. WestJetters are at the core of our success, and I am very excited to celebrate that success with a record profit share pay out later this month.”

 

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