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.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
