Angel Di Bilio/iStock Editorial via Getty Images In December 2023, Allegiant Travel Company (NASDAQ:ALGT) opened its much awaited Sunsecker Resort, diversifying Allegiant's business, which prior to the opening was primarily focused on passenger transport and, to a lesser extent, resort related revenues. The Company provided its first quarter results on the May 7, 2024, providing some insights in the performance and expectations for the Sunseeker Resort. Resolts beat analyst estimates by $11.18 million on th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to_______ Commission File Number 001-33166 Allegiant Travel Company (Exact Name of Registrant as Specified in Its Charter) Nevada 20-4745737 (State or ...

The airline was also named the No. 1 ULCC LAS VEGAS, May 9, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) has been named one of the top three airlines, and number one ULCC, by customers, according to the J.D. Power 2024 North America Airline Satisfaction Study. The consumer research firm's annual survey asked passengers to rate carriers based on seven core factors: airline staff, digital tools, ease of travel, level of trust, on-board experience, pre/post-flight experience, and value for pric ...

Allegiant Travel Company (NASDAQ:ALGT) Q1 2024 Earnings Conference Call May 7, 2024 12:30 PM ET Company Participants Sherry Wilson - Managing Director of Investor Relations Maury Gallagher - Executive Chairman and CEO Greg Anderson - President Micah Richins - President of Sunseeker Resorts Scott DeAngelo - EVP and Chief Marketing Officer Drew Wells - SVP and Chief Revenue Officer Robert Neal - SVP and Chief Financial Officer Conference Call Participants Helane Becker - TD Cowen Ravi Shanker - Morgan Stanley ...

Financial Performance - First quarter 2024 total operating revenue was $656.4 million, a 1.0% increase year-over-year[2] - First quarter 2024 total operating expense increased by 15.5% to $641.0 million compared to $554.9 million in the prior year[2] - First quarter 2024 diluted earnings per share, excluding special charges, was $0.57, down 81.3% from $3.04 in the previous year[2] - Airline operating revenue for the first quarter 2024 was $632.5 million, a decrease of 2.6% year-over-year[3] - Operating income fell significantly by 83.7% to $15.4 million from $94.8 million year-over-year[27] - Net loss for the period was $0.9 million, compared to a net income of $56.1 million in the same quarter of 2023[27] - Earnings per share (EPS) for common shareholders was a loss of $0.07, down from a profit of $3.09 in the previous year[27] - Reported net income for 2024 was $(0.9) million, a significant decrease from $56.1 million in 2023[44] - Airline net income excluding special charges for 2024 was $19.8 million, down from $59.9 million in 2023[44] - Operating income as reported (GAAP) for 2024 was $15.4 million, compared to $94.8 million in 2023[46] - Airline operating income excluding special charges for 2024 was $39.1 million, down from $97.6 million in 2023[46] - Consolidated EBITDA for 2024 was $79.2 million, a decrease from $149.5 million in 2023[51] - Airline EBITDA excluding special charges for 2024 was $97.0 million, down from $152.2 million in 2023[51] Revenue Breakdown - Passenger revenue decreased by 4.8% year-over-year to $579.9 million from $609.3 million[27] - Third-party products revenue increased by 28.3% to $33.4 million compared to $26.0 million in the prior year[27] - Sunseeker Resort reported total operating revenues of $23.9 million during its first quarter of operation, with an occupancy rate of approximately 40%[15] Expenses and Costs - Salaries and benefits expenses increased by 33.6% to $213.3 million from $159.6 million year-over-year[27] - Aircraft fuel costs decreased by 10.3% to $170.1 million compared to $189.5 million in the same period last year[27] - Special charges, net of recoveries, amounted to $13.1 million, compared to a recovery of $1.6 million in the prior year[27] - Total operating expenses rose by 15.5% to $641.0 million from $554.9 million in the same period last year[27] - Total airline operating expense excluding special charges for 2024 was $593.4 million, compared to $552.1 million in 2023[46] - Cost per available seat mile (CASM) for 2024 was 13.43 cents, an increase from 11.86 cents in 2023[50] Capacity and Operations - Total passengers decreased by 1.1% year-over-year to 4,104,860 in Q1 2024 from 4,148,453 in Q1 2023[32] - Available seat miles (ASMs) increased by 2.0% year-over-year to 4,771,971 thousand in Q1 2024 from 4,677,622 thousand in Q1 2023[32] - System available seat miles for 2024 were 4,772 million, up from 4,677.6 million in 2023[50] - Airline operating expense per ASM (CASM) rose by 8.1% year-over-year to 12.75 cents in Q1 2024 from 11.80 cents in Q1 2023[32] Future Projections - Second quarter 2024 airline-only earnings per share, excluding special charges, is projected to be between $1.25 and $1.75[17] - Full-year 2024 airline-only guidance anticipates a year-over-year change in system ASMs of 2.0% to 4.0%[17] - Diluted earnings per share excluding special charges for 2024 was $1.08, down from $3.30 in 2023[44] Cash and Debt Management - Total available liquidity as of March 31, 2024, was $1.1 billion, including $853.7 million in cash and investments[16] - Total unrestricted cash and investments decreased by 2.0% to $853.7 million as of March 31, 2024, from $870.7 million as of December 31, 2023[34] - Total debt decreased by 0.5% to $2,248.8 million as of March 31, 2024, from $2,259.6 million as of December 31, 2023[34] Pricing and Sales - Average fare for scheduled service decreased by 5.0% year-over-year to $74.98 in Q1 2024 from $78.93 in Q1 2023[32] - Percent of sales through the website increased by 0.9 percentage points to 96.5% in Q1 2024 from 95.6% in Q1 2023[32]

Allegiant Travel (ALGT) reported $656.41 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 1%. EPS of $0.57 for the same period compares to $3.04 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $648.38 million, representing a surprise of +1.24%. The company delivered an EPS surprise of +11.76%, with the consensus EPS estimate being $0.51.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Allegiant Travel Company (ALGT) is scheduled to report first-quarter 2024 results on May 7 after market close.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 34.56%. The Zacks Consensus Estimate for the current-quarter loss has widened to 84 cents per share from 43 cents in the past 60 days.Let us take a look at the factors that are likely to have influenced ALGT’s performance in ...

LAS VEGAS, April 30, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) has scheduled its first quarter 2024 financial results conference call for Tuesday, May 7 at 12:30 p.m. EDT. 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™Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrate ...

LAS VEGAS, April 29, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for March 2024. Scheduled Service – Year Over Year Comparison March 2024 March 2023 Change Passengers 1,649,826 1,676,400 (1.6 %) Revenue passenger miles (000) 1,569,978 1,589,454 (1.2 %) Available seat miles (000) 1,828,212 1,802,132 1.4 % Load factor 85.9 % 88.2 % (2.3 pts) Departures 11,075 11,119 (0.4 %) Average stage length ( ...

Agreement between Allegiant and TWU Local 577 members overwhelmingly ratified by flight attendants LAS VEGAS, April 16, 2024 /PRNewswire/ -- Allegiant (NASDAQ: ALGT) today announced that the company and the Transport Workers Union of America, AFL-CIO Local 577, representing Allegiant's flight attendants, have ratified a new five-year agreement with immediate wage increases ranging from 20 to 41.2 percent. The tentative agreement was ratified by Allegiant flight attendants with a 89 percent approval vote and ...