Allegiant Travel Company (ALGT) shares gained 4.3% since its fourth-quarter 2023 earnings release on Feb 5. Quarterly earnings per share (EPS) came in at 11 cents against the Zacks Consensus Estimate’s loss of 67 cents. Operating revenues of $611 million outperformed the Zacks Consensus Estimate of $601.5 million but decreased marginally on a year-over-year basis.Passenger revenues, which accounted for the bulk (91%) of the top line, fell 1.5% on a year-over-year basis. Air traffic (measured in revenue pass ...

Financial Data and Key Metrics Changes - The company reported an adjusted consolidated net income of $2.4 million and an adjusted earnings per share (EPS) of $0.11 for Q4 2023, including approximately $12.8 million in preopening expenses for Sunseeker Resort [30] - For the full year 2023, adjusted consolidated net income was roughly $137 million, yielding an adjusted EPS of $7.31, which included approximately $33 million in expenses related to Sunseeker [31] - EBITDA for the full year was $472 million, a 45% increase over 2022, with the airline generating over $500 million in EBITDA excluding special items [31][32] - The airline recorded an adjusted net income of $165 million for the year, yielding an adjusted airline full year EPS of $8.82, slightly ahead of initial expectations [31] Business Line Data and Key Metrics Changes - The airline's controllable completion factor was reported at 99.8%, an industry-leading performance [13][12] - The airline's TRASM (Total Revenue per Available Seat Mile) for Q4 was $0.1316, down 6.2% year-over-year, but still more than 4% better than any previous fourth quarter [24] - Full year TRASM was $0.338, nearly 6% better than any prior year, with record ancillary performance exceeding $5 year-over-year [24] Market Data and Key Metrics Changes - The company retained nearly one-third of customers who flew in the prior year, accounting for nearly half of total revenue for 2023, with a year-over-year customer retention rate that was 16% higher than in 2022 [21] - The number of unique nonstop domestic routes served by Allegiant exceeded that of competitors, with 450 of the 555 routes being noncompetitive [10][16] Company Strategy and Development Direction - The company aims to grow its model, focusing on non-competitive nonstop routes, which currently make up 75% of its routes [10] - Allegiant is enhancing its operational capabilities and plans to increase peak utilization by as much as 20% compared to 2023 [15] - The company is also focused on international expansion, particularly with its joint venture partner, Viva Aerobus [16] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding labor agreements and operational performance, highlighting the importance of maintaining a reliable service in a competitive environment [6][12] - The company anticipates continued strong demand for leisure travel, particularly during peak periods, and expects to capitalize on brand awareness from events like the Super Bowl [20][19] Other Important Information - The Sunseeker Resort opened in December 2023 and is expected to contribute as much as $15 million in EBITDA in 2024 [17] - The company ended 2023 with over $1.1 billion in total liquidity, including $870 million in cash and investments [33] Q&A Session Summary Question: Can you provide more color on historical Q-over-Q unit revenue and expected unit costs for the first quarter? - The historical Q-over-Q unit revenue has been around 2.5% from 2011 to 2019 [39] - The first quarter is expected to have elevated unit costs year-over-year, primarily driven by wage increases for frontline labor groups [40] Question: Is there any improvement in off-peak pricing? - The spread between peak and off-peak pricing appears to be returning to pre-pandemic levels, indicating normal leisure seasonality [42] Question: How do you view margin seasonality going into Q2? - The second quarter is expected to have the best operating margin, with a clear path to increase peak capacity in the summer [45] Question: What are the financing plans for capital spending this year? - The company is exploring various financing options, including bank markets and finance leases, to support capital expenditures [49] Question: Can you provide an update on labor discussions? - The company is in federal mediation for pilot agreements and is working to address flight attendant contract issues [52] Question: What is the expected contribution from Sunseeker Resort? - The resort is still in its early stages, but management is optimistic about its performance and expects it to improve as awareness grows [56]

For the quarter ended December 2023, Allegiant Travel (ALGT) reported revenue of $611 million, down 0.1% over the same period last year. EPS came in at $0.11, compared to $3.17 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $601.47 million, representing a surprise of +1.59%. The company delivered an EPS surprise of +116.42%, with the consensus EPS estimate being -$0.67.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

Allegiant Travel (ALGT) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of a loss of $0.67 per share. This compares to earnings of $3.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 116.42%. A quarter ago, it was expected that this travel services company would post earnings of $0.13 per share when it actually produced earnings of $0.09, delivering a surprise of -30.77%.Over the las ...

Fourth quarter 2023 GAAP diluted loss per share of $(0.13)Fourth quarter 2023 diluted earnings per share, excluding special charges of $0.11(1)(6)(7)Fourth quarter 2023 airline only diluted earnings per share, excluding special charges of $0.86(1)(8) Full-year 2023 GAAP diluted earnings per share of $6.29Full-year 2023 diluted earnings per share, excluding special charges of $7.31(1)(6)(7)Full-year 2023 airline only diluted earnings per share, excluding special charges of $8.82(1)(8) Sunseeker Resort offici ...

LAS VEGAS, Feb. 2, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) has changed the time of its previously announced earnings conference call due to a scheduling conflict. The call will now be Monday, February 5 at 3:00 p.m. EST. A live broadcast of the conference call will be available through the company's Investor Relations website homepage at http://ir.allegiantair.com. The webcast will also be archived on the "Events & Presentations" section of the site.      Allegiant – Together We Fly™ La ...

Investors are always looking for stocks that are poised to beat at earnings season and Allegiant Travel Company (ALGT) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Allegiant is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty ...

The upcoming report from Allegiant Travel (ALGT) is expected to reveal quarterly loss of $0.67 per share, indicating a decline of 121.1% compared to the year-ago period. Analysts forecast revenues of $601.47 million, representing a decrease of 1.7% year over year.Over the last 30 days, there has been an upward revision of 13.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the cour ...

Allegiant Travel Company (ALGT) is scheduled to report fourth-quarter 2023 results on Feb 5, before market open.ALGT has a promising earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the four preceding quarters and missing in one, the average beat being 80.8%.The Zacks Consensus Estimate for current-quarter loss per share has widened to 67 cents from 58 cents 60 days ago.Let us have a quick peek at the factors that are likely to have influenced ALGT’s performance in the qu ...

Allegiant Travel Company (ALGT) recently reported a disappointing year-over-year decrease in traffic and capacity for December 2023.Scheduled traffic (measured in revenue passenger miles) fell 6.8% from December 2022 levels. Capacity (measured in available seat miles) for scheduled service declined 4.4% from the December 2022 reading. The load factor (percentage of seats filled by passengers) in December 2023 reached 82.5%.Total departures (scheduled services) dipped 5% year over year in December 2023. Howe ...