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MESA Mesa Air

Mesa Air Group, Inc. operates as a holding company. The firm engages in the provision of regional air carrier and passenger transportation services. Its fleet includes American Eagle and United Express flights. The company was founded in 1982 and is headquartered in Phoenix, AZ.

Company profile

Ticker
MESA
Exchange
CEO
Jonathan Ornstein
Employees
Incorporated
Location
Fiscal year end
Former names
MESA AIRLINES INC
SEC CIK
IRS number
850302351

MESA stock data

(
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Calendar

10 May 21
2 Aug 21
30 Sep 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Sep 20 Sep 19 Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Mesa Air earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 151.22M 151.22M 151.22M 151.22M 151.22M 151.22M
Cash burn (monthly) 11.24M (positive/no burn) (positive/no burn) (positive/no burn) 232.67K (positive/no burn)
Cash used (since last report) 46.07M n/a n/a n/a 953.81K n/a
Cash remaining 105.15M n/a n/a n/a 150.27M n/a
Runway (months of cash) 9.4 n/a n/a n/a 645.8 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Jul 21 Gillman Brian S Common Stock Payment of exercise Dispose F No No 8.92 1,051 9.37K 48,932
15 Jul 21 Gillman Brian S Common Stock Option exercise Aquire M No No 0 2,528 0 49,983
15 Jul 21 Gillman Brian S Restricted Stock Award Common Stock Option exercise Dispose M No No 0 2,528 0 67,327
1 Jun 21 Gillman Brian S Common Stock Payment of exercise Dispose F No No 9.79 12,720 124.53K 47,455
1 Jun 21 Gillman Brian S Common Stock Option exercise Aquire M No No 0 19,900 0 60,175
1 Jun 21 Gillman Brian S Common Stock Option exercise Aquire M No No 0 4,568 0 40,275
1 Jun 21 Gillman Brian S Common Stock Option exercise Aquire M No No 0 5,707 0 35,707
1 Jun 21 Gillman Brian S Restricted Stock Award Common Stock Grant Aquire A No No 0 20,429 0 69,855
1 Jun 21 Gillman Brian S Restricted Stock Award Common Stock Option exercise Dispose M No No 0 19,900 0 49,426
1 Jun 21 Gillman Brian S Restricted Stock Award Common Stock Option exercise Dispose M No No 0 4,568 0 69,326

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

76.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 130 87 +49.4%
Opened positions 49 17 +188.2%
Closed positions 6 9 -33.3%
Increased positions 53 23 +130.4%
Reduced positions 21 30 -30.0%
13F shares
Current Prev Q Change
Total value 1.76B 1.35B +30.5%
Total shares 27.47M 22.7M +21.0%
Total puts 281.8K 96.6K +191.7%
Total calls 304.4K 198.2K +53.6%
Total put/call ratio 0.9 0.5 +89.9%
Largest owners
Shares Value Change
GROW U.S. Global Investors 2.66M $35.78M NEW
BLK Blackrock 2.57M $34.53M +17.6%
UBS UBS Group AG - Registered Shares 2.34M $31.49M -0.5%
Royce & Associates 1.88M $25.25M +14.4%
Vanguard 1.49M $19.98M -1.7%
Dimensional Fund Advisors 991.97K $13.34M +37.9%
Wedge Capital Management L L P 799.94K $10.76M -47.0%
STT State Street 779.2K $10.48M -7.8%
Geode Capital Management 772.08K $10.38M +70.5%
Driehaus Capital Management 758.96K $10.21M NEW
Largest transactions
Shares Bought/sold Change
GROW U.S. Global Investors 2.66M +2.66M NEW
Corre Partners Management 0 -2.62M EXIT
MSD Partners 330.79K -1.93M -85.3%
Driehaus Capital Management 758.96K +758.96K NEW
Wedge Capital Management L L P 799.94K -708.79K -47.0%
D. E. Shaw & Co. 655.35K +655.35K NEW
Integrated Core Strategies 564.46K +564.46K NEW
Jacobs Levy Equity Management 426.8K +426.8K NEW
BLK Blackrock 2.57M +383.32K +17.6%
Assenagon Asset Management 415.63K +371.47K +841.1%

Financial report summary

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Competition
Alaska AirSkywest
Risks
  • We are highly dependent on our agreements with our major airline partners.
  • If our major airline partners experience events that negatively impact their financial strength or operations, our operations also may be negatively impacted.
  • The supply of pilots to the airline industry is limited and may negatively affect our operations and financial condition.
  • Pilot attrition may continue to negatively affect our operations and financial condition.
  • Increases in our labor costs, which constitute a substantial portion of our total operating costs, may adversely affect our business, results of operations and financial condition.
  • We may be limited from expanding our flying within our major airline partners' flight systems and there are constraints on our ability to provide services to airlines other than American and United.
  • The residual value of our owned aircraft may be less than estimated in our depreciation policies.
  • The amounts we receive under our capacity purchase agreements may be less than the corresponding costs we incur.
  • Strikes, labor disputes and increased unionization of our workforces may adversely affect our ability to conduct our business and reduce our profitability.
  • We face tail risk in that we have aircraft lease commitments that extend beyond our existing capacity purchase agreement contractual terms on certain aircraft.
  • We may incur substantial maintenance costs as part of our leased aircraft return obligations.
  • We may become involved in litigation that may materially adversely affect us.
  • Disagreements regarding the interpretation of our capacity purchase agreements with our major airline partners could have an adverse effect on our operating results and financial condition.
  • We rely on third-party suppliers as the sole manufacturers of our aircraft and aircraft engines.
  • If we face problems with any of our third-party service providers, our operations could be adversely affected.
  • Regulatory changes or tariffs could negatively impact our business and financial condition.
  • The issuance of operating restrictions applicable to one of the fleet types we operate could negatively impact our business and financial condition.
  • If we have a failure in our technology or security breaches of our information technology infrastructure our business and financial condition may be adversely affected.
  • We are subject to various environmental and noise laws and regulations, which could have a material adverse effect on our business, results of operations and financial condition.
  • Our ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
  • We may not be able to successfully implement our growth strategy.
  • We may not be able to make opportunistic acquisitions should we elect to do so as part of our growth strategy.
  • Our ability to obtain financing or access capital markets may be limited.
  • Negative publicity regarding our customer service could have a material adverse effect on our business, results of operations and financial condition.
  • Risks associated with our presence in international emerging markets, including political or economic instability, and failure to adequately comply with existing legal requirements, may materially adversely affect us.
  • The airline industry is highly competitive and has undergone a period of consolidation and transition leaving fewer potential major airline partners.
  • We are subject to significant governmental regulation.
  • Airlines are often affected by factors beyond their control including: air traffic congestion at airports; air traffic control inefficiencies; adverse weather conditions, such as hurricanes or blizzards; increased security measures; new travel related taxes or the outbreak of disease; any of which could have a material adverse effect on our business, results of operations and financial condition.
  • Terrorist activities or warnings have dramatically impacted the airline industry and will likely continue to do so.
  • The occurrence of an aviation accident involving our aircraft would negatively impact our operations and financial condition.
  • The market price of our common stock may be volatile, which could cause the value of an investment in our stock to decline.
  • The value of our common stock may be materially adversely affected by additional issuances of common stock underlying our outstanding warrants.
  • Provisions in our charter documents might deter acquisition bids for us, which could adversely affect the price of our common stock.
  • Our corporate charter includes provisions limiting ownership by non-U.S. citizens.
  • Our corporate charter limits certain transfers of our stock, which limits are intended to preserve our ability to use our net operating loss carryforwards, and these limits could have an effect on the market price and liquidity of our common stock.
  • We are an "emerging growth company," and the reduced disclosure and regulatory requirements applicable to "emerging growth companies" may make our common stock less attractive to investors.
  • The requirements of being a public company may strain our resources, increase our operating costs, divert management's attention and affect our ability to attract and retain qualified board members or executive officers.
  • We are required to assess our internal control over financial reporting on an annual basis, and any future adverse findings from such assessment could result in a loss of investor confidence in our financial reports, result in significant expenses to remediate any internal control deficiencies and have a material adverse effect on our business, results of operations and financial condition.
Management Discussion
  • We had operating income of $16.8 million in our three months ended March 31, 2021 compared to operating income of $13.9 million in our three months ended March 31, 2020.  In our three months ended March 31, 2021, we had net income of $5.7 million compared to net income of $1.9 million in our three months ended March 31, 2020.  Our operating results for the three months ended March 31, 2021 reflected a decrease in contract revenue due to reduced rates to partners related to PSP2 and lower flying on our CRJ-900, CRJ-700, and E-175 fleet due to the impact of COVID-19.
  • Flight operations expense decreased in the three months ended March 31, 2021 due to lower pilot and flight attendant wages and pilot training expenses. Our maintenance expense decreased primarily due to fewer heavy engine maintenance events and lower component contracts, parts, and labor expense, offset by higher c-check expense and pass-through maintenance. Aircraft rent expense decreased primarily due fewer leased engines.  In addition, general and administrative expense decrease as a result of lower pass-through property taxes.  Lastly, we recognized the Federal Grant received through the Payroll Support Agreement under the CARES Act with the U.S. Department of the Treasury.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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