Chorus Aviation reports $24.2M third-quarter profit, revenue up from year ago

HALIFAX – Chorus Aviation Inc. reported a profit of $24.2 million in its latest quarter as revenue increased 2.8 per cent compared with a year ago.

The regional aircraft company says the profit amounted to 15 cents per share for the quarter ended Sept. 30, weighed down by a $7.1-million loss on foreign exchange.

The result compared with a profit of $43.6 million or 31 cents per share a year ago when it benefited from an $11.3-million gain on foreign exchange.

Operating revenue totalled nearly $351.5 million, up from $342 million.

On an adjusted basis, Chorus says it earned $29.2 million or 18 cents per share in its latest quarter, down from an adjusted profit of $30.8 million or 22 cents per share a year ago.

Analysts on average had expected a profit of 19 cents per share and $353 million in revenue, according to financial markets data firm Refinitiv.

This report by The Canadian Press was first published Nov. 14, 2019.

Companies in this story: (TSX:CHR)