07:16 AM EST, 02/20/2025 (MT Newswires) -- Chorus Aviation (CHR.TO) reported overnight Wednesday an adjusted net profit in the fourth quarter of 2024 that missed analyst estimates.

The company posted an adjusted net income of $10.6 million, or $0.39 per share, below the FactSet normalized consensus non-GAAP earnings estimate of $0.50 per share.

Chorus' adjusted net earnings fell from $10.7 million, or $0.06 per share, posted a year ago.

Operating revenue slipped to $353.2 million from $354.6 million while adjusted EBITDA dropped to $52.3 million from $54.6 million.

"We took a significant step this past year to strengthen Chorus and unlock value with the sale of the RAL business in December," said Colin Copp, Chorus' president and CEO. "Combined with the significant reduction in debt and corporate financings, reduced interest and preferred dividend costs, the transaction positions Chorus for improved earnings and cash flows, as we renew our focus on growing our aviation services business."