- Allegiant Travel Company's ALGT total revenue for Q2 is roughly $629 million, an increase of 28% year-over-year.
- Demand strength persisted throughout the quarter resulting in TRASM increases of over 15% Y/Y, on capacity growth above 13%, compared with 2019.
- For June, TRASM was up ~20%, year over three-year.
- "July TRASM is currently trending in line with June yielding similar year over three-year percentage increases. In addition, we expect July's load factor to come in slightly higher than June's result of 90 percent," said Drew Wells, senior vice president.
- "Our fuel cost per gallon was $4.32, slightly above our previous guidance. This increase in fuel price coupled with a slight reduction in fuel efficiency from the first quarter, attributable to a more than eight-point increase in load factor, resulted in roughly $9 million in incremental fuel expense for the quarter. Based on the above results, we expect some earnings per share, excluding the 2022 employee recognition bonus, of roughly $0.62 for the second quarter," stated Gregory Anderson, executive vice president and chief financial officer.
- The load factor for June was 89.9%, compared to 85.9% in Jun 2019 and 77.7 in June 2021.
- Scheduled services ASM for June was increased by 9.7% from 2019 and declined by 3.6% from 2021.
- Total System ASM for June increased 8.7% from 2019 and declined by 3.4% from 2021.
- Price Action: ALGT shares are trading lower by 18.53% at $95.01 during the post-market session on Monday.
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