Chorus Aviation Inc T.CHR

6 cents per share

[stwatcher]

Adjusted earnings 6 cents per share ... ouch

[Mephistopheles3]

Results are not as bad as you are stating.  EBITDA of $113 M beat consensus at $108M and free cash flow was $114M which is again higher than the analyst estimates that I'm seeing.  The EPS number is a funciton of really just the adjustment in income taxes - if you look at the income statement, you will see that the tax expense is massive this quarter.  Looks to be an adjustment

[Stwatcher2]

Q3 2023 Financial Highlights Net income of $17.1 million, a quarter-over-quarter decrease of $6.4 million. Adjusted earnings available to Common Shareholders* of $12.1 million, a decrease of $19.1 million quarter-over-quarter. Adjusted earnings available to Common Shareholders* of $0.06 per Common Share, basic, a decrease of $0.09 

[Mephistopheles3]

You need to give context over those numbers (and btw, FCF of $114 million for one quarter with a company with a market cap of $400 million or so is pretty good).   CHR sold a significant number of assets in 2022 which was used in the NCIB / repayment of debt.  So obviously when you sell assets, the EBITDA related to those assets will not exist in 2023.  This was fully modelled

[Pears3250]

Thats only a PE of 10