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Global Crossing Airlines Inc (JETMF)
:JETMF
Earnings Data
Report Date
May 07, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0Last Year’s EPS
-0.11Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 05, 2025
|% Change Since: -12.68%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Neutral
Global Crossing Airlines showed strong revenue growth driven by its ACMI business and fleet expansion. However, challenges persist in the cargo market, which has impacted financials. While the strategic shift towards airframe ownership is promising, the decrease in charter revenue highlights the transitional challenges. Overall, the company is positioned for future growth, with improvements in financial metrics and strategic partnerships contributing positively.Company Guidance
During the call, Global Crossing Airlines provided detailed guidance on their financial operations, emphasizing the strong growth and strategic shifts in their business model. They reached the high end of their Q4 and fiscal year 2024 guidance for key metrics, including revenue, EBITDA, EBITDAR, and block hours flown. The company reported a significant expansion in their ACMI (Aircraft, Crew, Maintenance, and Insurance) operations, which generated $36 million in revenue for the quarter, tripling from the previous year and now accounting for 60% of total revenue. Charter revenue, however, decreased to $22 million, representing 36% of total revenue, reflecting a strategic shift from charter to ACMI services. They flew 7,745 block hours, marking a 26% increase year-over-year, with ACMI block hours more than doubling to 5,758. On the cargo side, they flew over 1,600 block hours, the highest in their history, despite challenges in the market. The company achieved a 12% increase in average aircraft utilization to 473 block hours. Financial metrics showed improvement with an increase in adjusted net income to $1.2 million and EBITDA rising to $5.1 million. They ended the quarter with $14 million in cash and restricted cash. Looking forward, they expect further fleet expansion by over 20% in the second half of 2025 and focus on securing high-margin ACMI contracts to sustain profitability.Significant ACMI Revenue Growth
ACMI business revenue grew more than 3x to $36 million compared to the year-ago quarter, primarily driven by an increase in fleet, strong customer demand, and growth in government business.
Expansion of Fleet and Utilization Improvement
The company expanded its fleet and increased block hours by 26% year-over-year. Average utilization per aircraft increased 12% to 473 block hours.
Record Cargo Block Hours
Surpassed 1,600 block hours flown in Q4, marking the strongest quarter for cargo in GlobalX history.
Improved Financial Performance
Revenue in Q4 increased by 11% to $59.9 million. EBITDA increased to $5.1 million from a $0.4 million loss, and EBITDAR increased to $19.3 million from $11.4 million.
New Strategic Partnerships and Contracts
Secured new contracts, including a six-month ACMI contract with DHL and a seven-month ACMI contract with a South American tour operator, guaranteeing over 1,800 block hours.
Strategic Shift to Airframe Ownership
Began acquiring airframes to optimize capital deployment and maintain a strong balance sheet, with expected delivery of the first airframe in Q2 2025.
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JETMF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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JETMF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 05, 2025 | $0.71 | $0.62 | -12.68% |
| Nov 06, 2024 | $0.64 | $0.56 | -12.50% |
| Aug 13, 2024 | $0.62 | $0.59 | -4.84% |
| May 07, 2024 | $0.56 | $0.56 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Global Crossing Airlines Inc (JETMF) report earnings?
Global Crossing Airlines Inc (JETMF) is schdueled to report earning on May 07, 2025, TBA Not Confirmed.
What is Global Crossing Airlines Inc (JETMF) earnings time?
Global Crossing Airlines Inc (JETMF) earnings time is at May 07, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is JETMF EPS forecast?
JETMF EPS forecast for the fiscal quarter 2025 (Q1) is 0.
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