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Alaska Air Group Revenue Flies In Q3

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Alaska Air Group Revenue Flies In Q3
  • Alaska Air Group, Inc. (NYSE: ALKreported second-quarter operating revenue growth of 263% year-over-year to $1.53 billion, beating the consensus of $1.50 billion.
  • Adjusted loss per share of $(0.30) compared to a $(3.57) loss last year, beat the consensus for $(0.73) loss.
  • Passenger revenue improved by 338% Y/Y to $1.35 billion.
  • Operating expenses increased by 38% Y/Y to $978 million.
  • Net cash provided by operating activities year-to-date totaled $1.01 billion.
  • Revenue passengers increased by 486.7% Y/Y, RPMs increased by 524.8%, ASMs increased by 211.4% Y/Y, and Load factor increased 3,860 basis points to 77%.
  • CASM excluding fuel and special items was 9.20¢, compared to 21.87¢ a year ago.
  • During the quarter, the company announced plans to grow mainline and regional fleets, exercising options for Boeing Co's (NYSE: BA) 13 737-9 MAX with deliveries in 2023 and 2024, and nine E175 to be operated by Horizon Air with deliveries in 2022 and 2023.
  • The company had $4 billion in unrestricted cash and marketable securities as of June 30, 2021, and a debt-to-capitalization ratio of 56%.
  • Raymond James maintained Strong Buy on Alaska Air but lowered the price target to $78, implying a 40% upside.
  • Price Action: ALK shares are down 0.89% at $57.08 during the premarket session on the last check Thursday.
  • Photo by Tomás Del Coro via Wikimedia

Latest Ratings for ALK

DateFirmActionFromTo
Oct 2021JP MorganMaintainsOverweight
Sep 2021Morgan StanleyMaintainsOverweight
Jul 2021Raymond JamesMaintainsStrong Buy

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