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Alaska Air (ALK) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, Alaska Air Group (ALK - Free Report) reported revenue of $2.55 billion, up 3% over the same period last year. EPS came in at $0.30, compared to $0.92 in the year-ago quarter.
The reported revenue represents a surprise of +0.19% over the Zacks Consensus Estimate of $2.55 billion. With the consensus EPS estimate being $0.18, the EPS surprise was +66.67%.
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: 82.9% compared to the 85.1% average estimate based on five analysts.
Available seat miles (ASM): 17,077 million compared to the 17,018.6 million average estimate based on four analysts.
Economic fuel cost per gallon: $3.42 versus $3.40 estimated by four analysts on average.
Operating expenses per ASM, excluding fuel and special items: 10.4 cents versus the four-analyst average estimate of 10.66 cents.
Total revenue per ASM (RASM): 14.95 cents versus the four-analyst average estimate of 15.02 cents.
Revenue passenger miles (RPM): 14,153 million versus the four-analyst average estimate of 14,538.69 million.
Operating expenses per ASM: 14.76 cents versus the four-analyst average estimate of 14.81 cents.
Fuel gallons: 204 Mgal versus 215.46 Mgal estimated by three analysts on average.
Consolidated - ASMs per fuel gallon: 83.7 Gal compared to the 79.32 Gal average estimate based on three analysts.
Revenue- Passenger: $2.33 billion versus the five-analyst average estimate of $2.33 billion. The reported number represents a year-over-year change of +2.7%.
Revenue- Cargo and other: $62 million compared to the $61.50 million average estimate based on four analysts. The reported number represents a change of +6.9% year over year.
Revenue- Mileage Plan other: $165 million compared to the $158.02 million average estimate based on four analysts. The reported number represents a change of +5.1% year over year.
Shares of Alaska Air have returned -9.7% over the past month versus the Zacks S&P 500 composite's +2.5% 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) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Alaska Air Group (ALK - Free Report) reported revenue of $2.55 billion, up 3% over the same period last year. EPS came in at $0.30, compared to $0.92 in the year-ago quarter.
The reported revenue represents a surprise of +0.19% over the Zacks Consensus Estimate of $2.55 billion. With the consensus EPS estimate being $0.18, the EPS surprise was +66.67%.
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: 82.9% compared to the 85.1% average estimate based on five analysts.
- Available seat miles (ASM): 17,077 million compared to the 17,018.6 million average estimate based on four analysts.
- Economic fuel cost per gallon: $3.42 versus $3.40 estimated by four analysts on average.
- Operating expenses per ASM, excluding fuel and special items: 10.4 cents versus the four-analyst average estimate of 10.66 cents.
- Total revenue per ASM (RASM): 14.95 cents versus the four-analyst average estimate of 15.02 cents.
- Revenue passenger miles (RPM): 14,153 million versus the four-analyst average estimate of 14,538.69 million.
- Operating expenses per ASM: 14.76 cents versus the four-analyst average estimate of 14.81 cents.
- Fuel gallons: 204 Mgal versus 215.46 Mgal estimated by three analysts on average.
- Consolidated - ASMs per fuel gallon: 83.7 Gal compared to the 79.32 Gal average estimate based on three analysts.
- Revenue- Passenger: $2.33 billion versus the five-analyst average estimate of $2.33 billion. The reported number represents a year-over-year change of +2.7%.
- Revenue- Cargo and other: $62 million compared to the $61.50 million average estimate based on four analysts. The reported number represents a change of +6.9% year over year.
- Revenue- Mileage Plan other: $165 million compared to the $158.02 million average estimate based on four analysts. The reported number represents a change of +5.1% year over year.
View all Key Company Metrics for Alaska Air here>>>Shares of Alaska Air have returned -9.7% over the past month versus the Zacks S&P 500 composite's +2.5% 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.