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Alaska Air Group (ALK) Q1 Loss Narrower Than Expected
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Alaska Air Group, Inc. (ALK - Free Report) incurred loss (excluding $1.05 from non-recurring items) of 82 cents per share in the first quarter of 2020, narrower than the Zacks Consensus Estimate of a loss of $1.27. In the year ago period, the company reported earnings of 17 cents.
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 first-quarter earnings being revised downward significantly over the last 60 days.
However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in each of the last four quarters with an average beat of 9.4%.
Alaska Air Group recorded revenues of $1,636 million, missing the Zacks Consensus Estimate of $1,691.1 million. Also, it compared unfavorably with the year-ago number of $1,876 million.
Key Stats to Note: The airline witnessed an 11.7% decrease in consolidated revenue per available seat mile (RASM: a key measure of unit revenue) in the quarter. Economic fuel cost per gallon decreased 9.4% in the period. However, cost per available seat mile, excluding fuel (CASM-ex) inched up 1.8%.
Check back later for our full write up on this Alaska Air Group earnings report later!
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Alaska Air Group (ALK) Q1 Loss Narrower Than Expected
Alaska Air Group, Inc. (ALK - Free Report) incurred loss (excluding $1.05 from non-recurring items) of 82 cents per share in the first quarter of 2020, narrower than the Zacks Consensus Estimate of a loss of $1.27. In the year ago period, the company reported earnings of 17 cents.
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 first-quarter earnings being revised downward significantly over the last 60 days.
However, the company has an impressive earnings history having outperformed the Zacks Consensus Estimate in each of the last four quarters with an average beat of 9.4%.
Alaska Air Group, Inc. Price and EPS Surprise
Alaska Air Group, Inc. price-eps-surprise | Alaska Air Group, Inc. Quote
Revenues Lower Than Expected
Alaska Air Group recorded revenues of $1,636 million, missing the Zacks Consensus Estimate of $1,691.1 million. Also, it compared unfavorably with the year-ago number of $1,876 million.
Key Stats to Note: The airline witnessed an 11.7% decrease in consolidated revenue per available seat mile (RASM: a key measure of unit revenue) in the quarter. Economic fuel cost per gallon decreased 9.4% in the period. However, cost per available seat mile, excluding fuel (CASM-ex) inched up 1.8%.
Zacks Rank: Currently, Alaska Air Group has a Zacks Rank #3 (Hold). 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!
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>