Philippines · Delayed Price · Currency is PHP Cebu Air Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 7% in Q2 despite a sharp fuel price spike, but profitability was hit by higher costs and forex losses, resulting in a net loss. Market share and operational metrics improved, and recovery is underway with a focus on cost discipline and fleet modernization.
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Q1 2026 saw 10% revenue growth and record passenger numbers, but Forex losses led to a net loss. Management expects continued losses in Q2 and Q3 due to high fuel prices, with cautious capacity growth and strong liquidity to weather volatility.
Fiscal Year 2025
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Record 2025 revenue and net income were achieved despite operational disruptions and fuel price volatility. Strong demand, cost efficiencies, and a modern fleet supported market leadership, but 2026 guidance remains cautious due to geopolitical risks and rising fuel costs.
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Q3 2025 saw 5% revenue growth despite a lean travel season, with strong international, ancillary, and cargo performance offsetting domestic softness. Persistent supply chain and engine issues constrained capacity, but robust demand and disciplined management supported profitability and a positive outlook for Q4 and 2026.
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Revenue grew 20% year-on-year to PHP 30.4B, with strong passenger and cargo growth, but margins were pressured by higher costs and supply chain issues. Capacity growth guidance was lowered to 15%-20% due to engine and delivery delays, yet demand and financial outlook remain positive.
Fiscal Year 2024
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Q4 and full-year 2024 saw strong revenue and passenger growth, with expanded routes and improved operational metrics. Net income for the year was PHP 5.4 billion, and the company expects continued growth in 2025, with capacity and margins approaching pre-pandemic levels.
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Signed a record Airbus order and acquired AirSWIFT, expanding network and future growth potential. Q3 revenues declined slightly year-on-year, but cargo and capacity grew strongly. Net debt has peaked, CapEx will fall in 2025, and a share buyback program was resumed.