Allegiant Travel Company Reports 67th Consecutive Profitable Quarter, Net Income up 190% to $43.9M
Updated: Jan 11, 2020
On Thursday, Las Vegas-based Allegiant Travel Company, parent company of Allegiant Airlines, reported a net income of $43.9M on revenue of 436.5M. Diluted earnings per share improved over 187% to $2.70 versus $0.94 in Q3 2018.
Today, the Allegiant Travel Company (NASDAQ: ALGT), parent company of Allegiant Airlines, reported their 67th consecutive profitable quarter, with a net income of $43.9M on revenues of $436.5M. Diluted earnings per share (EPS) improved 187.2% to $2.70 versus Q3 2018. Allegiant Airlines' cost per available seat mile – excluding fuel (CASM-ex) improved 5.6% to 6.40 cents and total revenue per available seat mile (TRASM) increased 4.3%. In today’s announcement, Allegiant Travel Chairman and CEO, Maurice J. Gallagher, Jr., stated,
“I couldn’t be happier about our post-fleet transition results with our third consecutive quarter of airline margin expansion. This is our 67th consecutive profitable quarter and we’ve nearly tripled EPS versus the same period a year ago, despite having eight fewer aircraft in the current fleet. Airline operating margin increased ten-plus points to almost 18 percent in the quarter. Even without the year-over-year benefits from lower fuel cost per gallon, our airline operating margins would have been greater than 15 percent, almost twice as high as last year.”
For full year guidance, Allegiant Travel expects airline cost per available seat mile – excluding fuel (CASM-ex) to decrease 3-4% year over year. Full year expenditures on their Florida Sunseeker Resorts Project are expected to be between $150 – 175M, with a total project cost projection of $470M. In after hours trading, shares in Allegiant Travel Company (NASDAQ: ALGT) were trading up over 6% at $163.70/share (7:59PM EDT).
Source: Allegiant Travel Company