Controlling cost increases is crucial for airlines. Margins are low. Even small changes in the cost can negatively impact the airlines’ profitability. Alaska is one of the legacy carriers. However, its unit cost is closer to the low-cost carriers. Alaska’s (ALK) operating cost per available seat mile (or CASM) was $0.1282.
In 2013, Alaska faced stiff competition in Seattle—one of its major hubs. It faced competition from Delta Air Lines. Delta started to launch services to Alaska’s key markets from Seattle—Los Angeles, San Francisco, and Las Vegas. By the end of 2014, Delta and Alaska will be offering 13 overlapping city pairs from Seattle.
Alaska Airlines (ALK) has the lowest yield of $0.148 among all its peers. Its peers include Delta (DAL) at $0.1689, United (UAL) at $0.1614, American (AAL) at $0.1622, and Southwest (LUV) at $0.1602. Revenue management is essential for the airline industry. The industry needs to maximize revenue by selling the most aircraft seats possible to customers at the best price.
Global growth Navios Maritime Acquisition’s (NNA) management cites the International Monetary Fund’s (or IMF) projected growth for 2014 and 2015 at 3.4%, and developing markets growth of 4.6% in 2014…
In the product tanker sector, demand for transportation expressed in terms of ton miles for the period 2004 to 2013 increased by almost 77%.
For the period from 2014 to 2019, the Navios Maritime Acquisition (NNA) management expects global refinery capacity to increase by 7.7 million barrels per day.
At the end of the second quarter, Navios Maritime Acquisition’s (NNA) total assets amounted to $1.8 billion while total debt stood at $1,252 billion.
As a result of strong liquidity levels, Navios Maritime Acquisition (NNA) has a significant cash flow visibility with 96.7% of its available fleet contracted for 2014.
For the second quarter 2014, NNA’s board of directors declared a quarterly cash dividend of $0.05 per share on its common stock payable on October 2, 2014
Navios Maritime Acquisition (NNA) is the first publicly listed VLCC (very large crude carrier) owner among its U.S. peers.
Navios Maritime Acquisition’s (NNA) chartering strategy mainly focuses on capturing market opportunity, while it also develops a significant cash flow from a diverse group of first class charters.
In June 2014, NNA delivered the Nave Neutrino, a 2003-built VLCC (very large crude carrier) of 298,287 dwt (or deadweight tonage), for a purchase price of $43.5 million.
In 2Q14, Navios Maritime Acquisition (NNA) increased its EBITDA (earnings before interest, tax, depreciation, and amortization) by $5.6 million.
Navios Maritime Acquisition’s (NNA) revenue for 2Q14 increased 32.3% to $62.2 million from $47.1 million in the corresponding quarter a year ago.
Navios Maritime Acquisition Corp. (NNA) is the owner and operator of tanker vessels with a major focus on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.
Japan is thinking about opening its market to casinos in the near future. Legalizing casinos in Japan is a long-term catalyst for the casino industry. Las Vegas Sands (LVS) has a huge potential for growth in Japan. The growth in Japan could be as big as the growth in Macao.
The 2014 estimated EV to EBITDA multiple for Las Vegas Sands (LVS) is 11x . This shows that LVS is undervalued compared to to Wynn Resorts (WYNN) at 13.1x and Melco Crown Entertainment (MPEL) at 12.1x. LVS is overvalued compared to Boyd Gaming (BYD) at 9.2x.
As an investor, you should know if Las Vegas Sands’ (LVS) management is committed to the future. Management runs the company. Does management own shares? Adelson Sheldon, the chairman and CEO of LVS, holds ~49% of the company. This shows that management is confident in the company’s business.
Las Vegas Sands (LVS) continues to return capital to its shareholders. The capital is being returned through recurring dividends and stock buybacks. The company returned over $1.7 billion of capital to shareholders in 2013. LVS is generating a significant amount of free cash flow (or FCF). This is strengthening the company’s financial position.
Las Vegas Sands (LVS) maintained its ability to cover short-term obligations. It maintained its obligations despite investing in growth opportunities. Also, it wasn’t severely impacted by the economic downturn. However, its current ratio and quick ratio have declined compared to 2011.