Despite Earnings Decline, WS Sees 2016 As A Success
WestJet today announced its fourth quarter and year-end results for 2016, with full-year net earnings of $295.5 million. That figure is down from the record net earnings of $367.5 million, reported in the full-year 2015.
The airline achieved its 47thconsecutive quarter of profitability, exceeding analyst expectations by reporting Q4 net earnings of $55.2 million, compared to $63.4 million in the year-before period.
For the full-year and in each quarter of 2016 WS flew a record number of guests. Based on the trailing twelve months, the airline recorded a return on invested capital of 11.3%, down 0.3 percentage points from the 11.6% reported in the previous quarter.
"In 2016 we continued to execute on our profitable growth strategies, which included the further expansion of WestJet Encore and the successful launch of wide-body transatlantic service,” said President and CEO Gregg Saretsky.
“Our resilient business model delivered topline revenue growth, double-digit traffic growth, flew a record number of guests and achieved our second highest annual load factor in our history, despite facing economic weakness in Alberta."