Financial Data and Key Metrics Changes - The company reported consolidated net income of $32.5 million for Q2 2024, yielding an earnings per share (EPS) of $1.77, with consolidated EBITDA at $118.3 million and an EBITDA margin of 17.8% [39] - Adjusted net income at the airline was $41 million, resulting in an airline EPS of $2.24, driven by stronger than anticipated top-line revenue and better cost performance [40] - Average fuel cost was $2.83 per gallon, slightly below the guidance of $2.90, with an estimate of $2.80 for Q3 [40] Business Line Data and Key Metrics Changes - Airline revenue for Q2 2024 was $649.5 million, with a TRASM of $13.03, marking a year-over-year decrease of approximately 4.5% [33] - The airline achieved a controllable completion factor of 99.7%, among the best in the industry, and an adjusted operating margin of 10.3% [17] - Ancillary revenue increased year-over-year in Q2, highlighting improvements despite the loss of functionality with the Navitaire system [20] Market Data and Key Metrics Changes - The company noted that nearly half of its customers have annual household incomes exceeding $100,000, indicating a strong customer base [28] - The net promoter score rose to 67%, a 12-point increase from the previous quarter, reflecting improved customer satisfaction [28] Company Strategy and Development Direction - The company is focused on increasing peak period utilization, optimizing the Navitaire revenue management system, and integrating new Boeing aircraft into service [16] - The management team is exploring strategic alternatives for Sunseeker, including potential divestment, while working with Prospect Hotel Advisors to improve financial performance [25][66] - The company aims to grow profitably with 75% of its routes being non-competitive, positioning itself well for future growth [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to return to acceptable margin profiles by increasing utilization and operational efficiency [38] - The airline industry is facing challenges due to capacity issues and regulatory changes, but Allegiant's unique business model is expected to provide resilience [11][12] - The company anticipates improved performance starting later in 2024 and into 2025 as it executes its strategic initiatives [21] Other Important Information - The company suspended its dividend to focus on managing liquidity and preparing for aircraft deliveries [43] - The forecasted cash loss for Sunseeker for the year is approximately $15 million, with a full-year EBITDA loss of $25 million [25] Q&A Session Summary Question: What is the timeline for Sunseeker to reach profitability? - Management indicated that they are exploring all options, including optimizing the existing asset and engaging with potential strategic partners, but did not provide a specific timeline for profitability [52][66] Question: What is limiting the company from achieving desired aircraft utilization? - The main constraints have been stabilized staffing levels, particularly with pilots, and inefficiencies related to Boeing delivery delays [58][61] Question: What is the catalyst for the review of Sunseeker's performance? - The review was prompted by the need to assess the property's performance and explore strategic alternatives as the company gears up for peak periods in 2025 [66]

For the quarter ended June 2024, Allegiant Travel (ALGT) reported revenue of $666.28 million, down 2.6% over the same period last year. EPS came in at $1.77, compared to $4.35 in the year-ago quarter.The reported revenue represents a surprise of +1.11% over the Zacks Consensus Estimate of $659 million. With the consensus EPS estimate being $0.84, the EPS surprise was +110.71%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Exhibit 99.1 ALLEGIANT TRAVEL COMPANY SECOND QUARTER 2024 FINANCIAL RESULTS Second quarter 2024 GAAP diluted earnings per share of $0.75 Second quarter 2024 diluted earnings per share, excluding special charges, of $1.77 Second quarter 2024 airline only diluted earnings per share, excluding special charges, of $2.24 (1)(3) (1)(3) ANNOUNCED STRATEGIC REVIEW OF SUNSEEKER RESORT LAS VEGAS. July 31, 2024 — Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the second quar ...

Company engages Prospect Hotel Advisors for their specialized expertise LAS VEGAS, July 31, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) announced today it has retained global hospitality asset management firm Prospect Hotel Advisors, LLC to conduct a strategic review of its hotel, Sunseeker Resort Charlotte Harbor. The recently opened resort, located in Southwest Florida, is a wholly owned subsidiary of Allegiant Travel Company and is Florida's premier gulf coast oasis, offering magnificent ...

WASHINGTON, July 30, 2024 /PRNewswire/ -- In advance of Allegiant Travel Company's Allegiant (NASDAQ: ALGT) 2024 second-quarter earnings announcement tomorrow, Allegiant Air pilots and their union are raising questions about the company's direction and decision-making as pilots continue to work under an outdated labor agreement negotiated in 2016. The 1,300-member pilot group is represented by Teamsters Local 2118. Allegiant Air is a low-cost U.S. air carrier focused on leisure travel. "Allegiant pilots are ...

Allegiant Travel Company (ALGT) is scheduled to report second-quarter 2024 results on Jul 31 after market close.Allegiant Travel 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 29.31%.The Zacks Consensus Estimate for ALGT’s soon-to-be-reported quarter’s earnings has been revised downward by 16.8% in the past 60 days to 84 cents per share. Meanwhile,the Zacks Consensus Estimate for reve ...

LAS VEGAS, July 29, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT), in partnership with the Boys & Girls Club of America, today announced Jill Prime, 17, as the recipient of the airline's Careers in Aviation scholarship.Jill will receive $34,000 from Allegiant, which she will use to pay for tuition and expenses as she pursues her bachelor's degree at Embry-Riddle Aeronautical University."We are so proud to inspire the next generation of aviators, exposing them to the rewarding career opportuni ...

LAS VEGAS, July 25, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for June 2024.Scheduled Service – Year Over Year ComparisonJune 2024 June 2023 Change Passengers 1,830,067 1,802,886 1.5 % Revenue passenger miles (000) 1,612,782 1,590,984 1.4 % Available seat miles (000) 1,862,875 1,766,164 5.5 % Load factor 86.6 % 90.1 % (3.5 pts) Departures 12,217 11,530 6.0 % Average stage length (miles) 868 868 0.0 % 2nd Quarter 2024 2nd Quarter 2023 Ch ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Allegiant Travel Company (ALGT) is a leisure travel company. The Zacks Consensus Estimate for its current year earnings has been 7.2% downward over the last 60 days.California Resources Corporation (CRC) is an independent oil and natural gas company. The Zacks Consensus Estimate for its current year earnings has been revised 4.7% downward over the last 60 days.MP Materials Corp. (MP) is a rare earth materials company. The Zacks Consen ...

The market expects Allegiant Travel (ALGT) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on July 31, 2024, might help the stock move higher if these key numbers are ...