Alaska Air Group (ALK - Free Report) together with affiliates, serves more than 100 cities through North America. The company is headquartered in Seattle, Washington.
Zacks Rank: Currently, Alaska Air Group has a Zacks Rank #2 (Buy), but that could definitely 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.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Alaska Air Group reported earnings (on an adjusted basis) of $2.51 per share in the second quarter of 2017 beat the Zacks Consensus Estimate by a penny. Earnings improved 18.4% on a year-over- year basis.
Revenue: Revenues came in at $2,102 million, just ahead of the Zacks Consensus Estimate of $2,096.3 million. The top line grew 41% on a year-over-year basis.
Key Stats: The carrier, which acquired Virgin America in December last year, paid a dividend to 30 cents per share in the second quarter, up 9% year-over-year. The carrier exited the quarter with $1.9 billion in unrestricted cash and marketable securities. The carrier reported a 1.3% improvement in passenger unit revenues for the second quarter.
Check back later for our full write up on this Alaska Air Group earnings report later!
Stock Price: The earnings report pleased the investors. Shares of the company were up in pre-market trading at the time of writing.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaries," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>