Categories Earnings, LATEST

Alaska Air Group’s (ALK) Q3 results beat expectations

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. 

Alaska Air Group beats revenue and earnings estimates for Q3 2019

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

GameStop (GME) Earnings: Q1 loss narrows on 25% sales growth

Video game retailer GameStop Corp. (NYSE: GME), which has become the talk of the town after the unprecedented stock rally in recent weeks, reported a narrower loss for the first

Should you invest in Steel Dynamics (STLD) stock after 78% rally?

The steel industry managed to shrug off the pandemic blues earlier than expected as the recovery in industrial activity pushed up demand. With the vaccination drive and the government’s aggressive

Campbell Soup (CPB) Q3 Earnings: Key financials and quarterly highlights

Campbell Soup Company (NYSE: CPB) reported third-quarter 2021 earnings results today. Net sales decreased 11% year-over-year to $1.98 billion, as a result of lapping the demand surge at the onset

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top