Allegiant Travel(US:ALGT)2025-11-04 21:01Financial Performance - Third quarter 2025 total operating revenue was $561.9 million, flat compared to the prior year[10] - Adjusted airline-only operating loss for the third quarter was $17.3 million, yielding an adjusted airline-only operating margin of (3.1) percent[16] - Total operating revenues for Q3 2025 were $561,932, a slight decrease of 0.05% compared to $562,196 in Q3 2024[29] - Operating loss for Q3 2025 was $27,190, compared to a loss of $26,341 in Q3 2024, reflecting a 3.2% increase in losses year-over-year[29] - Net loss for Q3 2025 was $43,574, an increase of 18.4% from a net loss of $36,789 in Q3 2024[29] - Basic and diluted loss per share for Q3 2025 was $2.41, compared to $2.05 in Q3 2024, representing a 17.6% increase in loss per share[29] - Total operating revenues for the nine months ended September 30, 2025, increased by 3.5% to $1,950,390, compared to $1,884,884 in 2024[35] - Operating loss for the nine months ended September 30, 2025, was $(29.7) million, compared to an operating income of $24.0 million for the same period in 2024, indicating a significant decline[55] - Net loss as reported (GAAP) for the nine months ended September 30, 2025, was $(76.6) million, compared to a net loss of $(24.0) million in the same period of 2024[56] Revenue and Expenses - Passenger revenue increased to $494,144, up 1.1% from $488,989 in the same quarter last year[29] - Total operating expenses for Q3 2025 were $589,122, a marginal increase of 0.1% from $588,537 in Q3 2024[29] - Aircraft lease rentals surged by 87.4% to $11,096 in Q3 2025, compared to $5,920 in Q3 2024[29] - Maintenance and repairs expenses increased by 31.8% to $39,908 in Q3 2025, up from $30,278 in Q3 2024[29] - Total operating expenses for the nine months ended September 30, 2025, were $1,980.1 million, an increase from $1,860.9 million in the same period of 2024, representing a rise of 6.4%[55] Liquidity and Debt - Total available liquidity at September 30, 2025, was $1.2 billion, including $991.2 million in cash and investments[16] - Total debt at September 30, 2025, was $2.1 billion, with net debt at $1.1 billion[16] - Total unrestricted cash and investments increased by 19.0% to $991.2 million as of September 30, 2025[40] - Total debt decreased slightly by 0.5% to $2,056.4 million[40] Operational Metrics - The airline maintained a controllable completion factor of 99.9 percent, flying nearly 33,000 departures and transporting 4.6 million passengers, both third-quarter records[3] - Year-to-date, adjusted CASM excluding fuel decreased by nearly 7 percent, with CASM excluding fuel down 4.7 percent year-over-year for the third quarter[5] - The airline fleet is projected to grow from 121 aircraft in Q3 2025 to 123 by the end of 2025[21] - The load factor for scheduled service was 84.3% in 2025, down from 85.6% in 2024, reflecting a 1.3 percentage point decrease[35] - Airline operating expense per ASM decreased by 9.8% to 11.16 cents[39] Future Outlook - The company expects a double-digit operating margin for the fourth quarter, raising full-year airline-only EPS guidance to more than $4.35 per share[6] - The company announced 12 new nonstop routes and two new cities, Atlantic City and Burbank, during the third quarter[16] - Allegiant Travel Company plans to host a conference call on November 4, 2025, to discuss its second quarter financial results[22] Special Charges and Adjustments - Special charges for the three months ended September 30, 2025, totaled $3.5 million, compared to $8.8 million in the same period in 2024, indicating a decrease in extraordinary expenses[53] - Consolidated special charges, net of recoveries, for the nine months ended September 30, 2025, were $119.8 million, compared to $40.0 million in the same period in 2024, reflecting significant financial adjustments[53] - The company reported a significant increase in special charges, totaling $119.8 million for the nine months ended September 30, 2025, compared to $40.0 million in the same period of 2024[56]