The upcoming report from Alaska Air Group (ALK Quick QuoteALK - Free Report) is expected to reveal quarterly earnings of $0.47 per share, indicating an increase of 56.7% compared to the year-ago period. Analysts forecast revenues of $3.51 billion, representing an increase of 37.6% year over year.

The consensus EPS estimate for the quarter has undergone a downward revision of 26.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.

In light of this perspective, let's dive into the average estimates of certain Alaska Air metrics that are commonly tracked and forecasted by Wall Street analysts.

Based on the collective assessment of analysts, 'Revenue- Passenger' should arrive at $3.20 billion. The estimate indicates a year-over-year change of +37.7%.

The collective assessment of analysts points to an estimated 'Revenue- Mileage Plan other' of $196.59 million. The estimate suggests a change of +19.2% year over year.

Analysts expect 'Revenue- Cargo and other' to come in at $91.72 million. The estimate indicates a change of +47.9% from the prior-year quarter.

The combined assessment of analysts suggests that 'Passenger Load Factor' will likely reach 83.7%. Compared to the current estimate, the company reported 82.9% in the same quarter of the previous year.

According to the collective judgment of analysts, 'Total revenue per ASM (RASM)' should come in at 15.59 cents. The estimate is in contrast to the year-ago figure of 14.95 cents.

The consensus estimate for 'Available seat miles (ASM)' stands at 22.56 billion. Compared to the current estimate, the company reported 17.08 billion in the same quarter of the previous year.

Analysts forecast 'Revenue passenger miles (RPM)' to reach 19.06 billion. The estimate is in contrast to the year-ago figure of 14.15 billion.

Analysts' assessment points toward 'Economic fuel cost per gallon' reaching $2.59. Compared to the present estimate, the company reported $3.42 in the same quarter last year.

It is projected by analysts that the 'Fuel gallons' will reach 274.29 Mgal. Compared to the present estimate, the company reported 204 Mgal in the same quarter last year.

The consensus among analysts is that 'Passenger Yield' will reach 16.83 cents. The estimate compares to the year-ago value of 16.43 cents.

The average prediction of analysts places 'Operating expenses per ASM, excluding fuel and special items' at 12.87 cents. The estimate compares to the year-ago value of 10.4 cents.

Analysts predict that the 'Consolidated - ASMs per fuel gallon' will reach 82.30 Gal. The estimate is in contrast to the year-ago figure of 83.7 Gal.

View all Key Company Metrics for Alaska Air here>>>

Over the past month, shares of Alaska Air have returned +3.8% versus the Zacks S&P 500 composite's -2.1% change. Currently, ALK carries a Zacks Rank #1 (Strong Buy), suggesting that it may outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>