Azul SA (NYSE:AZUL)

$ 2.89 -0.01 (-0.34%) Market Cap: 335.12 Mil Enterprise Value: 5.88 Bil PE Ratio: 0 PB Ratio: 0 GF Score: 63/100

Q2 2024 Azul SA Earnings Call (English, Portuguese) Transcript

Aug 12, 2024 / 03:00PM GMT

Release Date Price: $3.78 (-10.85%)

Transcript

Key Points

Positve

Azul SA (AZUL) reported strong revenue of BRL4.2 billion for the second quarter, with a RASK of 0.32.
The company achieved an EBITDA of BRL1.1 billion and an EBIT of BRL441 million, representing margins of 25.2% and 10.6%, respectively.
Azul's loyalty program, Azul Fidelity, delivered strong results with record numbers in members, gross billings, and active credit card sales.
Azul Viagens, the company's vacation packaging business, grew 63% in gross bookings compared to the second quarter of 2023.
The logistics business saw a 12% growth quarter-over-quarter, contributing to the overall revenue increase.

Negative

The severe flooding in Rio Grande do Sul negatively impacted the company's second-quarter results by at least BRL200 million.
The rapid devaluation of the Brazilian real by 12% and a 2.4% increase in fuel prices posed significant challenges.
The closure of the main airport in Porto Alegre led to a substantial reduction in capacity and forward bookings.
Azul faced temporary reductions in its international network due to delays in aircraft deliveries, impacting bookings and flown unit revenue.
The company had to rapidly reallocate capacity from Porto Alegre to other cities, resulting in lower-quality revenue.

Operator

Hello, everyone, and welcome all to Azul's Second Quarter Earnings Call. My name is, Zach, and I will be your operator for today. This event is being recorded and all participants will be in listen-only mode, until we conduct a Q&A session following the company's presentation. (Operator Instructions)

I would like to turn the presentation over to Thais Haberli, Head of Investor Relations. Please, Thais, proceed.

Thais Haberli

Azul SA - Head of Investor Relations

Thank you, Zach, and welcome all to Azul's second quarter earnings call. The results that we announced this morning, the outlook of this call and the slides that we reference are available on our IR website. Presented today will be John Rodgerson, CEO; David Neeleman, Azul's Founder and Chairman; Abhi Shah, the President of Azul; and Alex Malfitani, our CFO.

Before I turn the call over to John, I'd like to caution you regarding our forward-looking statements. Any matters discussed today that are not historical facts, particularly comments regarding the company's future plans,

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