Financial Performance - Operating revenue for Q1 2023 was $649.7 million, a 29.9% increase year-over-year[62] - Operating income was $94.8 million, resulting in an operating margin of 14.6%[62] - Operating cash inflows increased to $215.4 million in Q1 2023 from $176.0 million in Q1 2022, primarily due to a $64.0 million increase in net income[97] Revenue Sources - Passenger revenue increased by 31.3% compared to Q1 2022, driven by a 24.8% rise in average base fare[78] - The average ancillary revenue per passenger was $75.19, up 10.7% year-over-year, driven by core product strength[62] Passenger Metrics - Total passengers increased by 11.1% year-over-year to 4,148,453 in Q1 2023 from 3,734,262 in Q1 2022[91] - Revenue passenger miles (RPMs) rose by 10.3% to 3,925,362 thousand in Q1 2023 compared to 3,558,045 thousand in Q1 2022[91] - Load factor improved to 85.8%, a 6.9 percentage point increase from the previous year[62] Cost and Expenses - Aircraft fuel expense rose by $25.4 million, or 15.5%, due to an 11.4% increase in average fuel cost per gallon[82] - Salaries and benefits expense increased by $25.6 million, or 19.1%, attributed to a 17.1% rise in full-time equivalent employees[83] - Interest expense increased by $15.9 million, or 80.4%, due to new fixed-rate debt and a rise in the weighted average variable interest rate[88] Debt and Cash Position - Cash, cash equivalents, and investment securities rose to $1.08 billion as of March 31, 2023, up from $1.02 billion at December 31, 2022[92] - Total debt and finance lease obligations slightly increased to $2.13 billion as of March 31, 2023, from $2.12 billion at December 31, 2022[95] - Approximately 82% of the company's debt and finance lease obligations are fixed-rate as of March 31, 2023[96] Future Growth - The company has identified 1,400 incremental routes for future growth, with over 80% lacking current non-stop service[60] Fuel Cost Impact - Average fuel cost per gallon increased by 11.4% to $3.42 in Q1 2023 from $3.07 in Q1 2022[91] - A hypothetical 10% increase in the average price per gallon of fuel would have increased fuel expense by approximately $18.9 million for Q1 2023[107]

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $3.09 for Q1 2023, exceeding initial expectations and prompting an increase in full-year EPS guidance to approximately $9.75 per share [5][32] - Total revenue grew by 29% year-over-year, reaching $650 million, with a unit revenue increase of 28.8% compared to the same quarter last year [5][27][33] - Consolidated net income for Q1 2023 was $56.1 million, with an adjusted EPS of $3.04 [32] Business Line Data and Key Metrics Changes - The airline segment reported an airline-only EPS of $3.30, significantly ahead of expectations [32] - The Always Rewards credit card program saw record signups, with March being the best month ever, contributing to strong revenue performance [20][21] - Ancillary revenue per passenger reached $75 in Q1, indicating a healthy base for optimizing airfare [29] Market Data and Key Metrics Changes - The company experienced a load factor of 86% in Q1, with over 4.1 million guests traveling [5][6] - The customer database grew to 16.5 million, with an average increase of 225,000 customers per month [6] - Early booking indicators for the Sunseeker Resort showed promising results, with an average daily rate (ADR) of $407 and increasing to $540 in March [8][9] Company Strategy and Development Direction - The company aims to enhance guest experience and strengthen its brand, which is crucial for expanding its customer database [6] - Allegiant is focused on becoming the employer of choice, with ongoing negotiations for collective bargaining agreements with flight attendants and pilots [7][15] - The Sunseeker Resort is on track for an opening date of October 16, with a revised capital expenditure budget of $695 million [8][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about reaching agreements with team members and highlighted the importance of operational reliability [7][15] - The company anticipates a full-year airline earnings increase to $11 per share, despite trimming capacity guidance by 2.5 percentage points [12][34] - Management remains confident in the demand environment, with no significant booking impacts observed from macroeconomic pressures [27][30] Other Important Information - The company finished Q1 2023 with total available liquidity of $1.5 billion, including $1.1 billion in cash [35] - Allegiant plans to take delivery of three midlife A320 series and two 737 MAX 8-200 aircraft in 2023, with a focus on expanding its fleet [36][37] Q&A Session Summary Question: Capacity and CASM-X impacts - Management explained that the 9.8% increase in unit costs was influenced by various factors, including retention credits and airport-related costs [41] Question: Pilot situation and attrition - Management confirmed that attrition is in line with expectations, with new pilot hires exceeding initial plans [43] Question: First-time flyers and legacy carriers - Management noted that many first-time customers are choosing Allegiant due to price and non-stop flight options, especially in markets where legacy carriers have reduced service [47] Question: Revenue guidance and fuel price correlation - Management acknowledged a relationship between fuel prices and revenue but emphasized that Allegiant's approach has historically been to manage capacity in response to fuel price changes [49] Question: Guidance for the second quarter - Management indicated that while they expect flat performance in Q2, they are monitoring various factors that could influence capacity and revenue [52][54]

Fleet and Operations - The company operates a fleet of 122 Airbus A320 series aircraft, selling travel on 573 routes to 125 cities as of February 1, 2023[18]. - The airline's operating cost per available seat mile (CASM), excluding fuel, was 7.33 cents in 2022, which is 25% lower than the industry average of 9.77 cents[39]. - The company operates 573 scheduled routes, including 571 currently served and two new routes announced for 2023, with a focus on leisure destinations from underserved cities[58]. - The airline's operating fleet consists of 122 Airbus A320 series aircraft, with an average age of 14.8 years as of February 1, 2023[161]. - The company expects to purchase 50 Boeing 737MAX aircraft, which are projected to burn up to 20% less fuel per passenger compared to older Airbus A320 aircraft[74]. Financial Performance - Ancillary revenue per passenger increased from $5.87 in 2004 to $67.74 in 2022, highlighting significant growth in ancillary offerings[29]. - As of December 31, 2022, the company had $1.02 billion in unrestricted cash and total debt of $2.10 billion, resulting in a net debt of $1.08 billion[56]. - Fuel costs represented approximately 36.9% of total operating expenses in 2022, with the average cost per gallon increasing by 73.5% compared to 2021[150]. - Labor costs accounted for about 25.0% of total operating costs in 2022, making it the second largest expense line item[154]. - The company's debt and finance lease obligations totaled $2.10 billion as of December 31, 2022, which may adversely affect its financial condition and operational flexibility[184]. Growth and Expansion - The company has identified over 1,400 additional domestic routes for future expansion, with approximately 80% currently lacking nonstop service[23][28]. - The company expects to open the Sunseeker Resort in Southwest Florida in late 2023, expanding its travel offerings[17]. - The company is developing the Sunseeker Resort in Southwest Florida, with construction having resumed in August 2021 after a pandemic-related suspension[172]. - The company has a purchase agreement with Boeing for 50 Boeing 737 MAX aircraft to be delivered between 2023 and 2025[184]. - The company is seeking to implement a joint alliance with VivaAerobus, contingent on obtaining necessary government approvals[175]. Customer Experience and Marketing - Direct sales through the company's website accounted for 96% of scheduled service revenue in 2022, minimizing distribution costs[45]. - The company’s direct-to-customer distribution model allows for significant cost savings and enhanced revenue opportunities through ancillary product sales[59]. - The company’s non-card loyalty program, Allways Rewards®, launched in August 2021, aims to increase customer loyalty and revenue through personalized promotions[64]. - The company is transforming its eCommerce strategy to enhance customer experience and drive ancillary revenue growth[23]. Environmental and Regulatory Factors - The company has implemented various fuel conservation practices and is researching sustainable aviation fuel options to further reduce its environmental impact[80]. - The company anticipates increased regulatory scrutiny regarding environmental impacts, with potential substantial effects on fleet and operating costs starting in 2023[130]. - The company is subject to various federal, state, and local laws regarding environmental protection, which may affect operational costs and compliance[127]. - Environmental regulations and climate change legislation may lead to increased operational costs, with a goal of net-zero GHG emissions by 2050[208][209]. Labor and Employee Relations - The company employed 5,315 full-time equivalent employees as of December 31, 2022, including approximately 1,100 pilots and 1,750 flight attendants[86]. - Approximately 64.6% of the company's employees are represented by unions, which could lead to increased labor costs and potential disruptions[155]. - The company is engaged in collective bargaining for successor agreements with pilots and flight attendants, with mediation requested in January 2023[90][88]. - The company has not experienced any work interruptions or stoppages from its employee groups to date[91]. Challenges and Risks - The company may face increased costs due to challenges in hiring and retaining qualified personnel, including pilots and maintenance technicians[160]. - The impact of Hurricane Ian on travel demand to key leisure destinations remains uncertain, potentially affecting future passenger volumes[214]. - The company has made a decision not to purchase financial derivatives to hedge against fuel price increases, increasing vulnerability to fuel cost fluctuations[153]. - Increased federal excise taxes or government fees could reduce demand for air travel, impacting the company's load factors more than competitors[180]. Management and Governance - Recent management changes include a new CEO, president, CFO, and COO, raising concerns about future success compared to prior leadership[196]. - The company does not maintain key-man life insurance for its top executives, which could pose risks if key personnel leave[197]. - The company is involved in a joint application with VivaAerobus for an alliance agreement, pending DOT approval, which could impact market entry strategies[206].

Financial Data and Key Metrics Changes - The company reported a record total revenue of $2.3 billion for 2022, which is 25% higher than the previous best in 2019 [30] - Fourth quarter operating margin, excluding employee recognition bonus and special charges, was just shy of 16% [8] - Fourth quarter EBITDA exceeded $140 million, reflecting strong financial performance [8] - Net income for the fourth quarter was $52.5 million, with adjusted earnings per share of $3.17, well above initial guidance [37] Business Line Data and Key Metrics Changes - The company achieved a controllable completion percentage of 99.5% in the second half of 2022, significantly improving operational performance [7][17] - Total ancillary revenue per passenger exceeded $70 for the first time in the fourth quarter [31] - The co-brand card program drove total compensation of over $100 million in 2022, with more than 400,000 active cardholders [24] Market Data and Key Metrics Changes - The company experienced a 32.6% increase in fourth quarter revenue compared to the same period in 2019 [30] - Web traffic to allegiant.com increased by 24% from 2019, with 136 million users in 2022 [22] - Searches for travel during spring break and summer are up by 40% to 75% compared to last year [28] Company Strategy and Development Direction - The company is focused on operational integrity and finalizing labor contracts with flight attendants and pilots, with expectations to reach agreements by midyear [9][20] - Significant investments are being made in technology upgrades, including systems like SAP and Navitaire, to enhance operational efficiency [19][71] - The company plans to maintain a conservative capacity growth strategy in 2023, prioritizing operational stability [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand environment, with no signs of slowing down [8] - The company is prepared for potential economic challenges, emphasizing the resilience of leisure travelers [55] - Management highlighted the importance of the upcoming Investor Day to outline expected contributions from strategic initiatives [21] Other Important Information - The company bought back 377,529 shares during the fourth quarter at an average price of $78.94, totaling $29.8 million [13] - The company expects to receive 27 MAX 8200 aircraft in late 2023, with plans for conservative operational requirements [40] - The Sunseeker resort is expected to open in October 2023, with ongoing construction and remediation efforts [11] Q&A Session All Questions and Answers Question: Impact of adding flight attendant and pilot contracts and slowing capacity growth on EPS guidance - Management indicated that labor deals would have a half-year impact, estimating about a one-third increase in CASM for that period [45] Question: Growth potential for ancillary revenue per passenger - Management believes there are still opportunities for growth in ancillary revenue, particularly with the rollout of Navitaire and Allegiant Extra [47][49] Question: RASM growth and potential recession impact - Management views mid-single-digit RASM growth as reasonable, with existing markets providing stability [53][54] Question: Prioritization of ASM growth - Management stated that ASM growth will focus on restoring frequency in existing markets rather than new markets [62] Question: Climate considerations for the Sunseeker resort - Management emphasized that the resort was designed to withstand hurricanes, built to Category five standards [65][66]

Allegiant Travel Company (NASDAQ:ALGT) Q3 2022 Earnings Conference Call November 2, 2022 4:30 PM ET Company Participants Sherry Wilson - Managing Director, Investor Relations John Redmond - Chief Executive Officer Greg Anderson - President & Chief Financial Officer Scott Sheldon - President and Chief Operating Officer Scott DeAngelo - Executive Vice President & Chief Marketing Officer Drew Wells - Senior Vice President, Revenue & Planning Conference Call Participants Savanthi Syth - Raymond James Duane Pfen ...

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 September 30, 2022 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 Registrant's Telephone Number, Including Area Code: (702) 851-7300 Securities ...

Allegiant Travel Company (NASDAQ:ALGT) Q2 2022 Earnings Conference Call August 3, 2022 4:30 PM ET Company Participants Sherry Wilson - Managing Director, Investor Relations John Redmond - Chief Executive Officer Scott DeAngelo - Executive Vice President & Chief Marketing Officer Drew Wells - Senior Vice President, Revenue & Planning Greg Anderson - President & Chief Financial Officer Conference Call Participants Savi Syth - Raymond James Helane Becker - Cowen Scott Group - Wolfe Research Daniel McKenzie - ...

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 June 30, 2022 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 ...

Allegiant Travel Company (NASDAQ:ALGT) Q1 2022 Results Earnings Conference Call May 4, 2022 4:30 PM ET Company Participants Sherry Wilson - Director, IR Maury Gallagher - Chairman and CEO John Redmond - President Scott DeAngelo - CMO Drew Wells - SVP, Revenue Greg Anderson - EVP, CFO and Principal Accounting Officer Scott Sheldon - EVP and COO Conference Call Participants Savanthi Syth - Raymond James Mike Linenberg - Deutsche Bank Brandon Oglenski - Barclays Catherine O’Brien - Goldman Sachs Ravi Shanker - ...

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, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Nevada 20-4745737 (State or Other Jurisdiction of Incorporation or Organization) (IRS Employer Identification No.) 1201 North Town Center Drive Las Vegas, Nevada 89144 (Address of Principal ...