Q3 2024 Chorus Aviation Inc Earnings Call Transcript
Key Points
- Chorus Aviation Inc (CHRRF) reported a strong financial performance with an adjusted EBITDA of $54 million for the third quarter and $159 million year-to-date.
- The company successfully improved its leverage ratio to 3.0, down from 3.3 at the beginning of the year, indicating better financial health.
- Chorus Aviation Inc (CHRRF) announced the renewal of its normal course issuer bid, reflecting confidence in the undervaluation of its shares and commitment to shareholder returns.
- The company extended six Q400 CPA aircraft leases with Air Canada out to 2026, strengthening its relationship with a key customer.
- Voyager, a subsidiary of Chorus Aviation Inc (CHRRF), demonstrated significant growth with record part sales and a 16% increase in revenue year-to-date.
- The sale of the regional aviation leasing segment (RAIL) will result in the loss of earnings from this segment, which could impact overall profitability.
- The company faces challenges in maintaining its aircraft maintenance, materials, supplies, and services costs, which have been trending down but remain a significant expense.
- Chorus Aviation Inc (CHRRF) is not currently focused on third-party leasing, which may limit potential revenue streams from this area.
- The company is undergoing a significant transition with the sale of the RAIL segment, which may pose integration and operational challenges.
- There is uncertainty regarding the future of aircraft leases with Air Canada, as the company plans to sell aircraft rather than engage in third-party leasing.
Good morning, ladies and gentlemen and welcome to the car's third quarter of financial results conference call at this time, all lines are in listen-only mode following the presentation, we will conduct a question and answer session. If at any time during this call, you require immediate assistance. Please press star zero for the period.
This call is being recorded on Thursday, November 7th 2024. I would now like to turn the conference over to Mr Tyran Cody. Please go ahead.
Thank you.
Hello and thank you for joining us today for our third quarter conference call and audio webcast, webcast with me today from Chorus are Colin Kop, President and Chief Executive Officer and Gary Osborne, Chief Financial Officer. We will begin today's call with a brief summary of the results followed by questions from the analyst community as there may be some forward-looking discussion during the call. I ask that you refer to the caution
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
