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Joby Aviation, Inc. (JOBY) reported mixed fourth-quarter 2024 results wherein the company’s bottom line met the Zacks Consensus Estimate while the top line missed the same.
JOBY reported fourth-quarter 2024 adjusted loss per share of 19 cents (excluding 15 cents from non-recurring items), which was in line with the Zacks Consensus Estimate. In the year-ago reported quarter, the company reported a loss of 17 cents per share.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Quarterly revenues of $0.1 million missed the Zacks Consensus Estimate of $0.2 million and declined 94.6% from the year-ago reported quarter. Revenues from flight services were $55 million in the reported quarter.
Joby Aviation, Inc. Stock Price, Consensus and EPS Surprise
Joby Aviation, Inc. price-consensus-eps-surprise-chart | Joby Aviation, Inc. Quote
In the December quarter, total operating expenses increased 15.9% year over year due to higher research and development (up 19.8%) and selling, general and administrative (up 2.1%) costs.
Adjusted EBITDA in the fourth quarter of 2024 was a loss of $118.7 million, which marked employee related costs associated with the development, certification and manufacturing of the aircraft.
JOBY exited the fourth quarter with cash, cash equivalents and short-term investments of $932.85 million compared with $709.98 million at the end of the prior quarter.
JOBY’s 2025 Outlook
For 2025, JOBY anticipates to generate cash, cash equivalents and short-term investments in the range of $500-$540 million.
JOBY’s Zacks Rank & Stock Price Performance
Currently, JOBY carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past six months, shares of JOBY have gained 43.4% outperforming the airline transportation industry’s surge of 27%.
6-Month JOBY Stock Price Comparison
Image Source: Zacks Investment Research
Q4 Performances of Other Transportation Companies
Delta Air Lines
Delta Air Lines DAL reported fourth-quarter 2024 earnings (excluding 56 cents from non-recurring items) of $1.85 per share, which surpassed the Zacks Consensus Estimate of $1.76. Earnings increased 44.5% on a year-over-year basis due to low fuel costs.
DAL’srevenues of $15.56 billion surpassed the Zacks Consensus Estimate of $14.99 billion and increased 9.4% on a year-over-year basis, driven by strong holiday travel demand. Adjusted operating revenues (excluding third-party refinery sales) totaled $14.44 billion, up 5.7% year over year. Passenger revenues, which accounted for 82.4% of total revenues, increased 5% year over year at $12.82 billion.