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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, Inc. Price and EPS Surprise

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!

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