Alaska Air Group (NYSE: ALK) reported earnings on July 25. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q2), Alaska Air Group whiffed on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue dropped. GAAP earnings per share expanded significantly.

Gross margins shrank, operating margins contracted, net margins grew.

Revenue details
 Alaska Air Group reported revenue of $1.05 billion. The eight analysts polled by S&P Capital IQ predicted net sales of $1.26 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $1.47. The 14 earnings estimates compiled by S&P Capital IQ anticipated $1.51 per share. GAAP EPS of $1.47 for Q2 were 58% higher than the prior-year quarter's $0.93 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 28.5%, 90 basis points worse than the prior-year quarter. Operating margin was 13.9%, 140 basis points worse than the prior-year quarter. Net margin was 8.3%, 270 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $1.33 billion. On the bottom line, the average EPS estimate is $2.02.

Next year's average estimate for revenue is $4.93 billion. The average EPS estimate is $5.14.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Alaska Air Group is outperform, with an average price target of $67.64.

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