For the quarter ended March 2024, Alaska Air Group (ALK - Free Report) reported revenue of $2.23 billion, up 1.6% over the same period last year. EPS came in at -$0.92, compared to -$0.62 in the year-ago quarter.
The reported revenue represents a surprise of +2.42% over the Zacks Consensus Estimate of $2.18 billion. With the consensus EPS estimate being -$1.09, the EPS surprise was +15.60%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Alaska Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Passenger Load Factor: 81.4% versus the five-analyst average estimate of 80.9%.
- Economic fuel cost per gallon: $3.08 compared to the $3.10 average estimate based on four analysts.
- Available seat miles (ASM): 15,378 million versus the four-analyst average estimate of 15,313.32 million.
- Total revenue per ASM (RASM): 14.51 cents versus 14.24 cents estimated by four analysts on average.
- Revenue passenger miles (RPM): 12,524 million compared to the 12,397.06 million average estimate based on four analysts.
- Fuel gallons: 188 Mgal versus the three-analyst average estimate of 189.29 Mgal.
- Passenger Yield: 16 cents versus 15.8 cents estimated by three analysts on average.
- Consolidated - ASMs per fuel gallon: 81.8 Gal versus the three-analyst average estimate of 81.04 Gal.
- Consolidated - Revenue passengers: 9,774,000 thousand versus 10,384,560 thousand estimated by two analysts on average.
- Revenue- Passenger: $2 billion compared to the $1.96 billion average estimate based on five analysts. The reported number represents a change of +1% year over year.
- Revenue- Mileage Plan other: $164 million compared to the $158.43 million average estimate based on four analysts. The reported number represents a change of +6.5% year over year.
- Revenue- Cargo and other: $64 million versus the four-analyst average estimate of $56.53 million. The reported number represents a year-over-year change of +10.3%.
View all Key Company Metrics for Alaska Air here>>>Shares of Alaska Air have returned +10.2% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended March 2024, Alaska Air Group (ALK - Free Report) reported revenue of $2.23 billion, up 1.6% over the same period last year. EPS came in at -$0.92, compared to -$0.62 in the year-ago quarter.
The reported revenue represents a surprise of +2.42% over the Zacks Consensus Estimate of $2.18 billion. With the consensus EPS estimate being -$1.09, the EPS surprise was +15.60%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Alaska Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Passenger Load Factor: 81.4% versus the five-analyst average estimate of 80.9%.
- Economic fuel cost per gallon: $3.08 compared to the $3.10 average estimate based on four analysts.
- Available seat miles (ASM): 15,378 million versus the four-analyst average estimate of 15,313.32 million.
- Total revenue per ASM (RASM): 14.51 cents versus 14.24 cents estimated by four analysts on average.
- Revenue passenger miles (RPM): 12,524 million compared to the 12,397.06 million average estimate based on four analysts.
- Fuel gallons: 188 Mgal versus the three-analyst average estimate of 189.29 Mgal.
- Passenger Yield: 16 cents versus 15.8 cents estimated by three analysts on average.
- Consolidated - ASMs per fuel gallon: 81.8 Gal versus the three-analyst average estimate of 81.04 Gal.
- Consolidated - Revenue passengers: 9,774,000 thousand versus 10,384,560 thousand estimated by two analysts on average.
- Revenue- Passenger: $2 billion compared to the $1.96 billion average estimate based on five analysts. The reported number represents a change of +1% year over year.
- Revenue- Mileage Plan other: $164 million compared to the $158.43 million average estimate based on four analysts. The reported number represents a change of +6.5% year over year.
- Revenue- Cargo and other: $64 million versus the four-analyst average estimate of $56.53 million. The reported number represents a year-over-year change of +10.3%.
View all Key Company Metrics for Alaska Air here>>>Shares of Alaska Air have returned +10.2% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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