Mesa Air Group Inc. (MESA) went down by a further 17.66% premarket at the last check on Friday, while it lost 2.34% yesterday. The stock seems to continue its downfall on its Q4 and full fiscal year 2021 financial results. The company announced the results yesterday, on December 09.
In the last market session, the stock was down by $0.17 at 430.75 thousand shares, closing the session at $7.08. The stock fell further in the premarket and was trading at $5.53 at the time of writing.
Q4 and Full Fiscal Year 2021 Financials
The regional air carrier and passenger transportation company, Mesa Air Group Inc. (MESA) announced its financial results on Thursday.
MESA’s Fourth Quarter
As per the fourth quarter of fiscal 2021, the net loss was $7.5 million or $0.21 per diluted share. This compares to the year-ago quarter’s net income of $11.4 million or $0.32 per diluted share. Further, the adjusted net loss for Q4 2021, was $2.1 million.
Moreover, the fourth quarter of 2021, reported revenue of $130.8 million, against $108.0 million in the year-ago quarter. This marks an increase of 21.1% year-over-year.
Full Fiscal Year 2021
For the full fiscal year 2021, the adjusted net income of MESA was $24.6 million, against $27.5 million for the previous year. Consequently, the adjusted net income per diluted share for the full fiscal year 2021, was $0.64, against $0.78 for last year.
Furthermore, the full fiscal year 2021, reported revenue of $503.6 million, against $545.1 million for the previous year. This shows a decrease of 7.6% year-over-year.
MESA’s Monthly Performance
On November 18, the company disclosed its operating performance for the month of October. For October 2021, the block hours increased 52.2% to 30,694, from October 2020. The reason for this increase was relaxed Covid restrictions and increased flying.
Drone Delivery Business
On October 21, the company announced the signing of its agreement with Flirtey for ordering four delivery drones. As per the agreement, MESA has an option for ordering additional 500 aircrafts as well. Due to this agreement, MESA has become the first scheduled airline to launch drone delivery in the U.S.
The aerospace technology company, Flirtey deals in drone delivery hardware and software systems.
