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Alaska Air (ALK) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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Alaska Air Group (ALK - Free Report) reported $2.84 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 6.8%. EPS of $3.00 for the same period compares to $2.19 a year ago.
The reported revenue represents a surprise of +2.07% over the Zacks Consensus Estimate of $2.78 billion. With the consensus EPS estimate being $2.70, the EPS surprise was +11.11%.
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: 87% compared to the 83.68% average estimate based on five analysts.
Economic fuel cost per gallon: $2.76 versus the four-analyst average estimate of $2.93.
Total revenue per ASM (RASM): 16.54 cents versus 16.39 cents estimated by four analysts on average.
Operating expenses per ASM, excluding fuel and special items: 10.15 cents compared to the 10.13 cents average estimate based on four analysts.
Operating expenses per ASM: 14.57 cents compared to the 14.25 cents average estimate based on four analysts.
Revenue passenger miles (RPM): 14936 million versus the four-analyst average estimate of 14047.03 million.
Available seat miles (ASM): 17160 million compared to the 16920.11 million average estimate based on four analysts.
Consolidated - ASMs per fuel gallon: 82.9 Gal versus the three-analyst average estimate of 83.63 Gal.
Passenger Yield: 17.4 cents versus 18.19 cents estimated by three analysts on average.
Revenue- Passenger: $2.60 billion compared to the $2.53 billion average estimate based on five analysts. The reported number represents a change of +7.4% year over year.
Revenue- Mileage Plan other: $170 million versus $171.91 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.9% change.
Revenue- Cargo and other: $70 million versus the four-analyst average estimate of $64.21 million. The reported number represents a year-over-year change of +7.7%.
Shares of Alaska Air have returned +6.8% over the past month versus the Zacks S&P 500 composite's +4.9% 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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Alaska Air (ALK) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Alaska Air Group (ALK - Free Report) reported $2.84 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 6.8%. EPS of $3.00 for the same period compares to $2.19 a year ago.
The reported revenue represents a surprise of +2.07% over the Zacks Consensus Estimate of $2.78 billion. With the consensus EPS estimate being $2.70, the EPS surprise was +11.11%.
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: 87% compared to the 83.68% average estimate based on five analysts.
- Economic fuel cost per gallon: $2.76 versus the four-analyst average estimate of $2.93.
- Total revenue per ASM (RASM): 16.54 cents versus 16.39 cents estimated by four analysts on average.
- Operating expenses per ASM, excluding fuel and special items: 10.15 cents compared to the 10.13 cents average estimate based on four analysts.
- Operating expenses per ASM: 14.57 cents compared to the 14.25 cents average estimate based on four analysts.
- Revenue passenger miles (RPM): 14936 million versus the four-analyst average estimate of 14047.03 million.
- Available seat miles (ASM): 17160 million compared to the 16920.11 million average estimate based on four analysts.
- Consolidated - ASMs per fuel gallon: 82.9 Gal versus the three-analyst average estimate of 83.63 Gal.
- Passenger Yield: 17.4 cents versus 18.19 cents estimated by three analysts on average.
- Revenue- Passenger: $2.60 billion compared to the $2.53 billion average estimate based on five analysts. The reported number represents a change of +7.4% year over year.
- Revenue- Mileage Plan other: $170 million versus $171.91 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.9% change.
- Revenue- Cargo and other: $70 million versus the four-analyst average estimate of $64.21 million. The reported number represents a year-over-year change of +7.7%.
View all Key Company Metrics for Alaska Air here>>>Shares of Alaska Air have returned +6.8% over the past month versus the Zacks S&P 500 composite's +4.9% 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.