Mesa Air Group Inc. Q1 Loss Increases, Misses Estimates

(RTTNews) - Mesa Air Group Inc. (MESA) reported Loss for its first quarter that increased from the same period last year and missed the Street estimates.

The company's earnings came in at -$57.9 million, or -$1.41 per share. This compares with -$9.1 million, or -$0.25 per share, in last year's first quarter.

Excluding items, Mesa Air Group Inc. reported adjusted earnings of -$21.8 million or -$0.53 per share for the period.

Analysts on average had expected the company to earn $0 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 19.3% to $118.8 million from $147.2 million last year.

Mesa Air Group Inc. earnings at a glance (GAAP) :

-Earnings (Q1): -$57.9 Mln. vs. -$9.1 Mln. last year. -EPS (Q1): -$1.41 vs. -$0.25 last year. -Revenue (Q1): $118.8 Mln vs. $147.2 Mln last year.