tiprankstipranks
Azul Shares Take Flight after Strong Guidance
Market News

Azul Shares Take Flight after Strong Guidance

Brazilian airline stock Azul (NYSE:AZUL) soared as much as 68% after it reported earnings for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at -$0.83, which missed analysts’ consensus estimate of -$0.42 per share.

Pick the best stocks and maximize your portfolio:

Sales increased by 19.4% year-over-year, with revenue hitting $855.7 million. This was almost $30 million below expectations.

Looking forward, management now expects revenue and EBITDA for Fiscal Year 2023 to be $3.5 billion and $961.65 million, respectively. For reference, this will be 40% above pre-pandemic levels and will equate to a record-high performance.

The past five trading days have been kind to investors of AZUL stock, as prices shot up to above $7 per share at one point before pulling back to just under $6. Nevertheless, considering that shares were recently below $4 per share, the stock is still up roughly 45% over this timeframe.

Disclosure

Related Articles
TipRanks Auto-Generated NewsdeskAzul S.A. Advances Financial Restructuring Efforts
TheFlyLargest borrow rate increases among liquid names
TipRanks Auto-Generated NewsdeskAzul S.A. Achieves Record Revenue in Q3 2024
Go Ad-Free with Our App