Cathay Pacific Airways Full Year 2024 Earnings: EPS Beats Expectations

Cathay Pacific Airways (HKG:293) Full Year 2024 Results

Key Financial Results

• Revenue: HK$104.4b (up 11% from FY 2023).
• Net income: HK$9.61b (up 6.0% from FY 2023).
• Profit margin: 9.2% (in line with FY 2023).
• EPS: HK$1.49 (up from HK$1.41 in FY 2023).

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293 Operational Performance

• Available seat kilometres (ASK): 111.79b (up 31% from FY 2023).
• Passenger load factor: 83.2% (down from 85.7% in FY 2023).
• Total aircraft: 236 (up by 11 from FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cathay Pacific Airways EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.9%.

The primary driver behind last 12 months revenue was the Cathay Pacific segment contributing a total revenue of HK$94.7b (91% of total revenue). Notably, cost of sales worth HK$71.8b amounted to 69% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to HK$12.5b (54% of total expenses). Explore how 293's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Airlines industry in Asia.

Performance of the market in Hong Kong.

The company's shares are down 11% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Cathay Pacific Airways that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.