Azul SA
NYSE:AZUL
Income Statement
Earnings Waterfall
Azul SA
Revenue
|
18.1B
BRL
|
Cost of Revenue
|
-8.3B
BRL
|
Gross Profit
|
9.8B
BRL
|
Operating Expenses
|
-7B
BRL
|
Operating Income
|
2.8B
BRL
|
Other Expenses
|
-2.8B
BRL
|
Net Income
|
-10.9m
BRL
|
Income Statement
Azul SA
Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | |||||||||||||||||||||||||||||||||
Revenue |
6 258
N/A
|
6 370
+2%
|
6 416
+1%
|
6 522
+2%
|
6 670
+2%
|
6 880
+3%
|
7 153
+4%
|
7 408
+4%
|
7 705
+4%
|
8 018
+4%
|
8 295
+3%
|
8 719
+5%
|
9 057
+4%
|
9 407
+4%
|
10 031
+7%
|
10 646
+6%
|
11 442
+7%
|
11 703
+2%
|
9 487
-19%
|
7 262
-23%
|
5 744
-21%
|
4 767
-17%
|
6 068
+27%
|
7 981
+32%
|
9 976
+25%
|
11 343
+14%
|
13 565
+20%
|
15 224
+12%
|
15 948
+5%
|
17 233
+8%
|
17 578
+2%
|
18 118
+3%
|
|
Gross Profit | |||||||||||||||||||||||||||||||||
Cost of Revenue |
(4 423)
|
(4 525)
|
(4 442)
|
(4 378)
|
(4 200)
|
(4 156)
|
(4 267)
|
(4 324)
|
(3 181)
|
(3 893)
|
(3 719)
|
(3 669)
|
(3 882)
|
(3 971)
|
(4 211)
|
(4 357)
|
(4 641)
|
(4 842)
|
(3 987)
|
(3 229)
|
(2 727)
|
(2 428)
|
(3 151)
|
(4 009)
|
(4 877)
|
(5 618)
|
(6 889)
|
(8 005)
|
(8 934)
|
(9 359)
|
(8 904)
|
(8 268)
|
|
Gross Profit |
1 835
N/A
|
1 845
+1%
|
1 975
+7%
|
2 144
+9%
|
2 470
+15%
|
2 724
+10%
|
2 886
+6%
|
3 084
+7%
|
4 524
+47%
|
4 126
-9%
|
4 577
+11%
|
5 051
+10%
|
5 175
+2%
|
5 436
+5%
|
5 819
+7%
|
6 288
+8%
|
6 801
+8%
|
6 861
+1%
|
5 500
-20%
|
4 033
-27%
|
3 017
-25%
|
2 340
-22%
|
2 917
+25%
|
3 972
+36%
|
5 099
+28%
|
5 725
+12%
|
6 676
+17%
|
7 219
+8%
|
7 014
-3%
|
7 874
+12%
|
8 674
+10%
|
9 850
+14%
|
|
Operating Income | |||||||||||||||||||||||||||||||||
Operating Expenses |
(2 002)
|
(2 026)
|
(2 117)
|
(2 093)
|
(2 126)
|
(2 177)
|
(2 242)
|
(2 363)
|
(3 281)
|
(2 719)
|
(3 068)
|
(3 359)
|
(3 981)
|
(4 268)
|
(4 518)
|
(4 886)
|
(5 114)
|
(8 261)
|
(8 252)
|
(7 559)
|
(6 093)
|
(5 752)
|
(5 710)
|
(6 317)
|
(6 127)
|
(6 281)
|
(5 800)
|
(6 075)
|
(6 982)
|
(6 053)
|
(6 397)
|
(7 015)
|
|
Selling, General & Administrative |
(1 482)
|
(1 306)
|
(1 320)
|
(1 322)
|
(1 559)
|
(1 396)
|
(1 441)
|
(1 517)
|
(1 606)
|
(1 664)
|
(1 717)
|
(1 777)
|
(1 782)
|
(1 913)
|
(2 014)
|
(2 148)
|
(2 312)
|
(2 351)
|
(2 093)
|
(1 859)
|
(1 756)
|
(1 670)
|
(1 889)
|
(2 051)
|
(2 152)
|
(2 213)
|
(2 327)
|
(2 545)
|
(2 654)
|
(2 804)
|
(2 940)
|
(3 006)
|
|
Depreciation & Amortization |
(218)
|
(237)
|
(262)
|
(286)
|
(301)
|
(309)
|
(313)
|
(322)
|
(1 063)
|
(1 283)
|
(1 525)
|
(1 762)
|
(1 284)
|
(1 365)
|
(1 442)
|
(1 509)
|
(1 622)
|
(3 786)
|
(3 866)
|
(3 919)
|
(1 806)
|
(1 653)
|
(1 522)
|
(1 425)
|
(1 546)
|
(1 723)
|
(1 852)
|
(2 024)
|
(2 097)
|
(2 140)
|
(2 227)
|
(2 303)
|
|
Other Operating Expenses |
(302)
|
(483)
|
(535)
|
(486)
|
(265)
|
(473)
|
(488)
|
(523)
|
(612)
|
228
|
173
|
179
|
(916)
|
(991)
|
(1 062)
|
(1 229)
|
(1 179)
|
(2 125)
|
(2 293)
|
(1 781)
|
(2 531)
|
(2 430)
|
(2 299)
|
(2 840)
|
(2 429)
|
(2 345)
|
(1 622)
|
(1 507)
|
(2 230)
|
(1 109)
|
(1 231)
|
(1 706)
|
|
Operating Income |
(168)
N/A
|
(181)
-8%
|
(143)
+21%
|
51
N/A
|
344
+571%
|
547
+59%
|
644
+18%
|
721
+12%
|
1 243
+72%
|
1 407
+13%
|
1 508
+7%
|
1 691
+12%
|
1 194
-29%
|
1 168
-2%
|
1 301
+11%
|
1 402
+8%
|
1 688
+20%
|
(1 401)
N/A
|
(2 752)
-97%
|
(3 527)
-28%
|
(3 076)
+13%
|
(3 412)
-11%
|
(2 792)
+18%
|
(2 345)
+16%
|
(1 028)
+56%
|
(555)
+46%
|
876
N/A
|
1 144
+31%
|
33
-97%
|
1 821
+5 419%
|
2 277
+25%
|
2 835
+25%
|
|
Pre-Tax Income | |||||||||||||||||||||||||||||||||
Interest Income Expense |
(677)
|
(872)
|
(685)
|
(613)
|
(106)
|
(481)
|
(587)
|
(482)
|
(656)
|
(864)
|
(1 663)
|
(2 061)
|
(1 451)
|
(1 749)
|
(846)
|
(1 486)
|
(1 086)
|
(7 726)
|
(9 807)
|
(9 680)
|
(9 490)
|
(5 557)
|
(1 958)
|
(3 381)
|
(4 046)
|
759
|
(3 476)
|
(3 145)
|
(2 231)
|
(5 525)
|
(2 858)
|
(2 846)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2 883)
|
4
|
(16)
|
(16)
|
1 677
|
1 625
|
1 644
|
1 581
|
1 083
|
895
|
0
|
0
|
1 397
|
0
|
0
|
0
|
|
Total Other Income |
(232)
|
(0)
|
0
|
0
|
(220)
|
0
|
0
|
(0)
|
(173)
|
0
|
(0)
|
0
|
(196)
|
0
|
0
|
0
|
(255)
|
0
|
0
|
(0)
|
(188)
|
0
|
0
|
0
|
(222)
|
0
|
0
|
0
|
79
|
0
|
0
|
0
|
|
Pre-Tax Income |
(1 077)
N/A
|
(1 053)
+2%
|
(828)
+21%
|
(562)
+32%
|
18
N/A
|
65
+262%
|
57
-13%
|
239
+323%
|
414
+73%
|
543
+31%
|
(155)
N/A
|
(370)
-139%
|
(453)
-22%
|
(582)
-28%
|
456
N/A
|
(84)
N/A
|
(2 536)
-2 930%
|
(9 122)
-260%
|
(12 576)
-38%
|
(13 223)
-5%
|
(11 077)
+16%
|
(7 344)
+34%
|
(3 106)
+58%
|
(4 146)
-33%
|
(4 213)
-2%
|
1 098
N/A
|
(2 600)
N/A
|
(2 001)
+23%
|
(722)
+64%
|
(3 703)
-413%
|
(581)
+84%
|
(11)
+98%
|
|
Net Income | |||||||||||||||||||||||||||||||||
Tax Provision |
3
|
3
|
(78)
|
(84)
|
(144)
|
(132)
|
(42)
|
(35)
|
10
|
(2)
|
(57)
|
(89)
|
(183)
|
(101)
|
(12)
|
25
|
133
|
322
|
286
|
257
|
243
|
0
|
(17)
|
5
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Income from Continuing Operations |
(1 075)
|
(1 050)
|
(905)
|
(645)
|
(126)
|
(67)
|
15
|
205
|
425
|
541
|
(212)
|
(459)
|
(636)
|
(683)
|
444
|
(59)
|
(2 403)
|
(8 799)
|
(12 290)
|
(12 966)
|
(10 835)
|
(7 352)
|
(3 123)
|
(4 140)
|
(4 213)
|
1 098
|
(2 600)
|
(2 001)
|
(722)
|
(3 703)
|
(581)
|
(11)
|
|
Net Income (Common) |
(1 075)
N/A
|
(1 051)
+2%
|
(905)
+14%
|
(646)
+29%
|
(126)
+80%
|
(67)
+47%
|
15
N/A
|
205
+1 274%
|
425
+108%
|
541
+27%
|
(212)
N/A
|
(459)
-116%
|
(636)
-38%
|
(683)
-7%
|
444
N/A
|
(59)
N/A
|
(2 403)
-3 980%
|
(8 800)
-266%
|
(12 290)
-40%
|
(12 966)
-5%
|
(10 835)
+16%
|
(7 351)
+32%
|
(3 123)
+58%
|
(4 140)
-33%
|
(4 213)
-2%
|
1 098
N/A
|
(2 600)
N/A
|
(2 001)
+23%
|
(722)
+64%
|
(3 703)
-413%
|
(581)
+84%
|
(11)
+98%
|
|
EPS (Diluted) |
-4.45
N/A
|
-4.36
+2%
|
-3.76
+14%
|
-2.68
+29%
|
-0.52
+81%
|
-0.24
+54%
|
0.04
N/A
|
0.58
+1 350%
|
1.29
+122%
|
1.55
+20%
|
-0.6
N/A
|
-1.3
-117%
|
-1.82
-40%
|
-1.91
-5%
|
1.26
N/A
|
-0.17
N/A
|
-6.8
-3 900%
|
-24.63
-262%
|
-34.55
-40%
|
-36.57
-6%
|
-30.52
+17%
|
-20.58
+33%
|
-7.46
+64%
|
-9.89
-33%
|
-11.77
-19%
|
2.62
N/A
|
-7.47
N/A
|
-4.62
+38%
|
-2.01
+56%
|
-10.28
-411%
|
-1.61
+84%
|
-0.03
+98%
|