stock caught an updraft Friday after the regional carrier beat Wall Street earnings estimates.
The Indianapolis airline reported first-quarter net income of $14.6 million, up 46.7% from $9.9 million a year before. On a per-share basis, earnings were 48 cents, flat from a year before, but 4 cents ahead of the average analyst estimate from Thomson First Call.
In reaction, shares gained 45 cents, or 3.4%, to $13.62. Most other airline stocks were in negative territory, and the Amex Airline Index lost 2.7%.
Revenue was $178.4 million, up 49.7% from $119.2 million a year before and topping the $169.0 million analyst consensus. Growth was driven by a 38.4% capacity increase as Republic added 33 regional jets to its fleet over the past year.
The airline kept non-fuel unit costs flat from a year before. Republic is reimbursed for fuel costs by its network airline partners, which include
Delta Air Lines
United Airlines and
Republic has offered financing to US Airways to help it exit Chapter 11 bankruptcy.