On Thursday, the Alaska Air Group reported a third quarter net profit of $322M on revenue of $2.4B. Diluted earnings per share came in at $2.60 versus $1.75 in Q3 2018.
Today, the Alaska Air Group, Inc. (NYSE: ALK) reported a third quarter net profit of $322M on revenue of $2.4B – earnings per share (EPS) of $2.60 per diluted share versus an EPS of $1.75 in Q3 2018. During the quarter, the company increased their dividend by 9% to $0.35/share and for the first nine months of the year spent $53M repurchasing company shares. As of September 30, 2019, the Alaska Air Group holds $1.6B in unrestricted cash and marketable securities. For the third quarter, revenue per available seat mile (RASM) increased 4.5% to 13.64 cents versus Q3 2018. Cost per available seat mile – excluding fuel (CASM-ex) increased 3.4% to 8.43 cents. In today’s report, Alaska Air Group CEO, Brad Tilden stated,
“Our teams at Alaska, Horizon and McGee delivered industry leading customer service and operational reliability that helped drive strong third quarter results. 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. I want to thank our employees for everything they’re doing to make Alaska what we are today – and for helping us shape what we’re going to be in the future. They are the best in the industry, and I believe these results demonstrate that.”
Alaska Airlines forecasts that cost per available seat mile – excluding fuel (CASM-ex) will be between 8.97 - 9.02 cents in Q4 and between 8.68 - 8.70 cents for the full year. Revenue per available seat mile (RASM) is forecast to be between 12.97 - 13.36 cents in the fourth quarter. In after hours trading, shares of Alaska Air Group, Inc. (NYSE: ALK) were trading up 1.23% at $69.62/share (7:43PM EDT).
Source: Alaska Airlines