Alaska Air Group (NYSE: ALK) reported better-than-expected revenue and earnings for the third quarter of 2019, allowing the stock to gain over 1% in aftermarket hours on Thursday. Analysts had forecast earnings of $2.52 per share on revenues of $2.38 billion.
The airline posted an 8% growth in total operating revenues to $2.39 billion in the quarter versus the year-ago period.
GAAP net income was $322 million, or $2.60 per share, compared to $217 million, or $1.75 per share in the prior-year quarter. Adjusted net income was $326 million, or $2.63 per share.
CEO Brad Tilden said, “Our adjusted pretax profit margin of nearly 18% was 3.6 percentage points higher than last year – fueled by our commitment to keep costs low and by the impressive 8% revenue growth that our commercial team delivered.”
Passenger revenue grew 8% while Mileage Plan other revenue rose 4% during the quarter. Cargo and other revenue increased 9%.
Also read: American Airlines Q3 2019 Earnings Report
During the quarter, traffic increased 4.4% versus the year-ago period while capacity grew 3.4%. Load factor improved by 0.9 points to 85.8%. Yield was up 3.6%. RASM increased 4.5% while CASM, ex fuel, rose 3.4%. Economic fuel cost per gallon fell 8.6% to $2.13.
The company had $1.6 billion in unrestricted cash and marketable securities as of September 30, 2019.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Costco (COST) reports strong growth in Q1 FY26 earnings; revenue up 8%
Costco Wholesale Corporation (NASDAQ: COST) has reported an increase in net income for the first quarter of fiscal 2026. Revenues grew 8.3% year-over-year. The Issaquah, Washington-headquartered warehouse giant’s total revenues
AVGO Earnings: Broadcom reports higher Q4 FY25 revenue, profit; results beat
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. The numbers also surpassed analysts' expectations. Adjusted
Lamb Weston (LW) is set to report Q2 2026 earnings next week, here’s what to look for
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) rose over 1% on Thursday. The stock has gained 4% over the past three months. The French fry giant is slated to
