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Brazilian Airline GOL states about its Q3 net loss

By October 26, 2022 No Comments

The Brazilian airline GOL showcased its revenue report for the third quarter of 2022, stating a loss in revenue. Though the airline faced a loss in the third quarter, it also presented other records to mention that the current scenario is still much better. 

 

A Jump in GOL Shares

The shares of GOL Airlines have recently noticed a growth of 7% after the airline company presented its report. This jump in shares has made the company enter the list of top gainers on the benchmark of Brazil’s Bovespa Stock Index. 

GOL is among the best airlines in Brazil and has shown remarkable recovery in its revenues from the pandemic times. This has been proven again by the revenue report that the company has recently come up with. 

The Report

According to the earnings report stated by the airline company, the company faced a loss of 1.55 billion reais by the third quarter of the year. But the loss was even bigger last year at about 2.52 billion reais. The company made a comparison to state how it has recovered from last year’s losses, it has also stated that the loss this year was due to the losses in the foreign exchange. 

Also, the company stated that it has come up with a great quarterly revenue that has helped a lot in recovering the losses met during the pandemic. 

Estimates for the Year

The yearly forecast and estimates depend upon the quarterly revenue of any company. Thus, the estimates of the year 2022 as a total also depend upon the revenues earned till quarter 3. The company stated earlier that it has an estimation of 20% growth in the year 2022. But after the loss in the third quarter, the company now estimates that the revenue of the year 2022 should be somewhere around 19%. 

The company also forecasted previously the net debt ratio to be 8.0 but now after the third quarter revenue, the company has estimated the forecast to be 9.0. 

The outlook for capital expenditure has been also decreased now from about 700 million reais to 650 million reais. Despite of all the changes that the company has made in its different figures after the loss in the third quarter, it has still maintained the net revenue estimate for the year. As mentioned earlier, the revenue forecast of the company for the year 2022 still stands at 15.4 billion reais.