Pinnacle Airlines Exceeds 3Q10 Estimates Thanks to Mesaba Acquisition

Dahlman Rose & Co. has published its research report on Pinnacle Airlines Corp. PNCL following better than predicted 3Q10 results. Pinnacle Airlines reported 3Q10 EPS of $0.51. This was $0.20 higher than Dahlman Rose & Co.'s estimate and $0.10 higher than the consensus estimate. This EPS upside has been attributed to Pinnacle Airlines acquisition of Mesaba which was "immediately accretive" to their earnings. Pinnacle also reported 3Q10 revenue of $302.3M which is a $39.2% increase from $217.2M. Dahlman Rose & Co. did note that, "This is the first quarter in which Mesaba revenues were included in the results." Dahlman Rose & Co. is expecting less profitability in 4Q10 and has set their 4Q10 EPS at $0.28. PNCL is currently trading at $6.59.