Wheels Up reports Q2 EPS ($6.28) with items, consensus ($3.41)

Reports Q2 revenue $335.06M, consensus $352.81M. Q2 EPS includes a $70.0M non-cash goodwill impairment charge. “The actions we have taken to improve our operations are translating to a better experience for our customers and an improved financial performance for the company,” said CFO and Interim CEO Todd Smith. “Our on-time performance and reliability are showing marked improvement while our Adjusted Contribution margin and Adjusted EBITDA are at the best levels in almost two years, reflecting our focus on our network strengths as well as significant cost reductions and process improvements. We still have more work to do, but I am extremely encouraged by this quarter’s performance.”