Alaska Air Group, Inc. (ALK - Free Report) reported fourth-quarter 2017 earnings per share (excluding $2.14 from non-recurring items) of 83 cents in line with the Zacks Consensus Estimate. Earnings decreased 46.79% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Alaska Air Group depicted a gloomy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings being revised 7.8% over the last 30 days.
However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 2.9%.
Revenues Higher Than Expected
Alaska Air Group recorded revenues of $1,962 million, which came marginally above the Zacks Consensus Estimate of $1,961.8 million. Also, it compared favorably with the year-ago number of $1,524 million.
Key Stats to Note: The airline witnessed a 5.1% decrease in consolidated passenger revenue per available seat mile (PRASM: a key measure of unit revenue) in the quarter. For the first quarter of 2018, the carrier expects cost per available seat mile (CASM), excluding fuel and special items to rise approximately 6% year over year. While the same for 2018 is predicted to rise around 2.5%. Economic fuel cost per gallon is anticipated to increase 21% in the first quarter of 2018.
Zacks Rank: Currently, Alaska Air Group has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Alaska Air Group earnings report later!
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Alaska Air Group, Inc. (ALK - Free Report) reported fourth-quarter 2017 earnings per share (excluding $2.14 from non-recurring items) of 83 cents in line with the Zacks Consensus Estimate. Earnings decreased 46.79% on a year-over-year basis.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Alaska Air Group depicted a gloomy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for fourth-quarter earnings being revised 7.8% over the last 30 days.
However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 2.9%.
Revenues Higher Than Expected
Alaska Air Group recorded revenues of $1,962 million, which came marginally above the Zacks Consensus Estimate of $1,961.8 million. Also, it compared favorably with the year-ago number of $1,524 million.
Key Stats to Note: The airline witnessed a 5.1% decrease in consolidated passenger revenue per available seat mile (PRASM: a key measure of unit revenue) in the quarter. For the first quarter of 2018, the carrier expects cost per available seat mile (CASM), excluding fuel and special items to rise approximately 6% year over year. While the same for 2018 is predicted to rise around 2.5%. Economic fuel cost per gallon is anticipated to increase 21% in the first quarter of 2018.
Zacks Rank: Currently, Alaska Air Group has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Alaska Air Group earnings report later!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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