How has the Qantas (ASX:QAN) share price performed since reporting results?

The airline saw domestic travel numbers plummet amid new border closures, but it’s also had some good news…
The post How has the Qantas (ASX:QAN) share price performed since reporting results? appeared first on The Motley Fool Australia. –

The Qantas Airways Limited (ASX: QAN) share price closed up 2.23% yesterday, finishing the day at $5.50 per share.

The S&P/ASX 200 Index (ASX: XJO) made up some lost ground as well, closing up 0.35%.

It’s been almost 4 weeks ago now since the airline reported its full 2021 financial year (FY21) results.

Those 4 weeks have seen Australia’s COVID vaccination numbers surge. And Qantas now says it intends to relaunch international flights for the upcoming Christmas holidays, giving the Qantas share price a welcome tailwind.

With developments like this in mind, we take a look at how the airline has performed since reporting, along with a brief recap of those results.

What did the ASX 200 travel share report for FY21?

Investors were keeping a close eye on the Qantas share price on 26 August, when the company reported its FY21 results before market open.

Among the key metrics, Qantas’ full-year revenue of $5.9 billion took a reported $12 billion hit as the resurgent coronavirus saw international and many domestic Aussie borders remain closed.

Qantas reported a statutory loss before tax of $2.35 billion and underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of $410 million. EBITDA was in line with the company’s guidance.

The airline did not pay a final or interim dividend during the financial year.

Commenting on the results and outlook, Qantas’ CEO Alan Joyce said:

Despite the uncertainty that’s still in front of us, we’re in a far better position to manage it than this time last year. We’re able to move quickly when borders open and close. We’re a leaner and more efficient organisation. And our requirement for all employees to be vaccinated will create a safer environment for our people and customers.

How has the Qantas share price performed since reporting?

Investors appear to have been prepared for the airline’s revenue plunge and multibillion-dollar statutory loss before tax.

The Qantas share price gained 3.5% on the day it reported. Since the opening bell on 26 August, the day of reporting, Qantas shares have gained 13%.

By comparison, the ASX 200 is down 4% over that same time.

The post How has the Qantas (ASX:QAN) share price performed since reporting results? appeared first on The Motley Fool Australia.

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More reading

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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