Qantas Airways (ASX:QAN) has beaten consensus estimates on core earnings per share, helped by lower depreciation and amortization expenses, said Jarden in a Thursday note.
The airline reported Thursday fiscal first-half underlying earnings of AU$0.675 per share, up from AU$0.628 a year earlier. Analysts polled by FactSet expected earnings of AU$0.61.
Jarden noted that capital expenditure was a key driver of the lower depreciation and amortisation expense, coming in at AU$1.81 billion versus consensus estimates of AU$2.04 billion.
Jarden maintained its buy rating on Qantas and reduced its price target to AU$12.70 from AU$12.90.
The company's shares fell past 9% in recent Thursday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.