ALLEGIANT TRAVEL COMPANY THIRD QUARTER 2025 FINANCIAL RESULTS

Core Insights - Allegiant Travel Company reported a third-quarter 2025 GAAP diluted loss per share of $(2.41) and an adjusted airline-only loss per share of $(1.64) [1][3][14] - The airline maintained a controllable completion factor of 99.9% while achieving record departures and passenger transport [2][3] - The company expects a double-digit operating margin for the fourth quarter, raising its full-year airline-only EPS guidance to over $4.35 per share [3][13] Financial Performance - Total operating revenue for Q3 2025 was $561.9 million, a slight decrease of 0.1% from $562.2 million in Q3 2024 [1][14] - Total operating expenses increased to $589.1 million, up 0.1% from $588.5 million year-over-year [1][14] - The operating loss for Q3 2025 was $(27.2) million compared to $(26.3) million in Q3 2024, reflecting a 3.4% increase in loss [1][14] Operational Highlights - The airline transported 4.6 million passengers in Q3 2025, an increase of 8.8% from 4.3 million in Q3 2024 [2][26] - The average fuel cost per gallon decreased to $2.56, down 4.8% from $2.69 in the previous year [26] - The adjusted airline-only operating margin for Q3 2025 was (3.1)%, compared to 0.1% in Q3 2024 [14][26] Strategic Initiatives - The company is focusing on cost discipline, achieving a 4.7% decrease in CASM excluding fuel year-over-year [3][14] - Allegiant has expanded its network by announcing 12 new nonstop routes and two new cities [14] - The promotion of Robert "BJ" Neal to president is expected to strengthen the airline's operational and strategic capabilities [5] Guidance and Future Outlook - For Q4 2025, the company anticipates an adjusted operating margin of 10.0% to 12.0% and adjusted earnings per share between $1.50 and $2.50 [13][15] - Full-year 2025 guidance includes a system ASMs year-over-year change of approximately 12.5% and an adjusted airline-only earnings per share of over $4.35 [13][15] - Total available liquidity at the end of Q3 2025 was $1.2 billion, including $991.2 million in cash and investments [14]