PHOENIX, October 3, 2019 – Shares of Mesa Air Group Inc. (NASDAQ: MESA) showed the bearish trend with a lower momentum of -3.78% to $6.49. The company traded total volume of 224.929K shares as contrast to its average volume of 350.84K shares. The company has a market value of $205.93M and about 31.73M shares outstanding.
Mesa Air Group, Inc. (NASDAQ: MESA) reported net income of $13.21M, or $0.38 per diluted share, contrast to net income of $2.41M, or $0.10 per diluted share for Q2 2018. Excluding special items, adjusted net income was $16.00M for Q2 2019 or $0.46 per diluted share, contrast to $2.40M, or $0.10 per diluted share for Q2 2018. Mesa’s Q2 2019 pre-tax income was $17.30M, contrast to $3.00M for Q2 2018. Excluding special items, adjusted pre-tax income was $21.00M for Q2 2019, contrast to $3.00M for Q2 2018. In addition, Mesa’s Adjusted EBITDA for Q2 2019 was $53.70M, contrast to $32.00M in Q2 2018 and Adjusted EBITDAR was $67.80M, contrast to $50.30M in Q2 2018. On January 29, 2019 the company closed on a $91.20M five-year term loan at LIBOR +3.1%. The proceeds were used to pay down existing debt at LIBOR +7.25% plus yield enhancement of 1.5%.
Mesa operated 112.030K block hours during Q2 2019, a boost of 14.5% from Q2 2018 of 97.853K. Operationally, we ran a 99.6% controllable completion factor and a 97.4% total completion factor, which includes weather and other uncontrollable cancellations.
The Company offered net profit margin of 7.70% while its gross profit margin was 37.20%. ROE was recorded as 13.80%. The stock, as of recent close, has shown the weekly downbeat performance of -9.48% which was maintained at -15.82% in this year.