Transat's Q3 performance shows a mix of positive revenue growth and strategic progress through debt restructuring and network expansion, tempered by challenges such as aircraft grounding and competitive pressures. The Elevation program is progressing well, contributing to improved financial metrics, but the company faces headwinds with slight declines in load factors and increased market competition.

Company Guidance

During the Transat third-quarter earnings call for fiscal year 2025, several key metrics and operational updates were discussed. The company reported a 4.1% increase in revenue to $766 million and an adjusted EBITDA of $81 million. The quarter saw a 2.4% increase in capacity, expressed in available seat miles, with a 4.2% rise in transatlantic routes. Yield improved by 2.6% year-over-year, while the load factor slightly decreased to 85% from 86.2% in 2024. The Elevation program, aiming for $100 million in annual adjusted EBITDA by mid-2026, began yielding benefits. Transat's fleet included 43 aircraft, with six grounded due to Pratt & Whitney engine issues. Recent expansions included new routes to Istanbul and Rio de Janeiro, contributing to a 5% to 7% capacity increase for the upcoming winter. The company reported a net income of $400 million due to a significant gain on long-term debt extinguishment, marking a turnaround from a net loss of $40 million the previous year. Cash and cash equivalents rose to $357 million, while long-term debt decreased significantly following restructuring efforts.

Revenue and EBITDA Growth

Transat reported a 4.1% increase in revenue to $766 million and adjusted EBITDA of $81 million for Q3 2025, reflecting higher revenues, increased productivity, and a 14% decrease in fuel prices compared to the previous year.

Debt Restructuring Success

Completed restructuring of government debt, resulting in a $345 million gain on long-term debt extinguishment, significantly reducing total debt.

Elevation Program Progress

The Elevation program is on track to achieve $100 million in annual adjusted EBITDA by mid-2026, with benefits starting to materialize.

Network Expansion

New nonstop service announced from Toronto to Istanbul and Rio de Janeiro, along with a partnership with Turkish Airlines, reflecting ongoing efforts to diversify the network.

Customer Satisfaction Recognition

Air Transat was named the world's best leisure airline at the 2025 Skytrax World Airline Awards for the seventh time.

Transat AT V & VV (TSE:TRZ) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:TRZ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 17, 2025	2025 (Q4)	0.11 / -	0.67	―	―	―
Sep 11, 2025	2025 (Q3)	-0.16 / -0.28	-1.1	74.55% (+0.82)	―	―
Jun 12, 2025	2025 (Q2)	-0.89 / 0.12	-1.02	111.76% (+1.14)	―	―
Mar 13, 2025	2025 (Q1)	-2.04 / -1.90	-2.11	9.95% (+0.21)	―	―
Dec 12, 2024	2024 (Q4)	-0.31 / 0.67	0.41	63.41% (+0.26)	―	―
Sep 12, 2024	2024 (Q3)	-0.47 / -1.10	1.1	-200.00% (-2.20)	―	―
Jun 06, 2024	2024 (Q2)	-0.77 / -1.02	-0.21	-385.71% (-0.81)	―	―
Mar 14, 2024	2024 (Q1)	-1.16 / -2.11	-1.62	-30.25% (-0.49)	―	―
Dec 14, 2023	2023 (Q4)	-0.40 / 0.41	-2	120.50% (+2.41)	―	―
Sep 14, 2023	2023 (Q3)	0.15 / 1.10	-3.2	134.38% (+4.30)	―	―

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

TSE:TRZ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 12, 2025	C$2.80	C$2.48	-11.43%
Mar 13, 2025	C$1.67	C$1.54	-7.78%
Dec 12, 2024	C$1.95	C$2.04	+4.62%
Sep 12, 2024	C$1.96	C$1.81	-7.65%

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.

FAQ

When does Transat AT V & VV (TSE:TRZ) report earnings?

Transat AT V & VV (TSE:TRZ) is schdueled to report earning on Dec 17, 2025, Before Open (Confirmed).

What is Transat AT V & VV (TSE:TRZ) earnings time?

Transat AT V & VV (TSE:TRZ) earnings time is at Dec 17, 2025, Before Open (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 TSE:TRZ EPS forecast?

TSE:TRZ EPS forecast for the fiscal quarter 2025 (Q4) is 0.11.

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