Alaska Air Group
The 10-second takeaway
For the quarter ended March 31 (Q1), Alaska Air Group met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share grew significantly. GAAP earnings per share shrank.
Gross margins dropped, operating margins increased, net margins dropped.
Alaska Air Group booked revenue of $1.13 billion. The eight analysts polled by S&P Capital IQ expected to see revenue of $1.13 billion on the same basis. GAAP reported sales were 9.0% higher than the prior-year quarter's $1.04 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.62. The 12 earnings estimates compiled by S&P Capital IQ predicted $0.56 per share. Non-GAAP EPS of $0.62 for Q1 were 59% higher than the prior-year quarter's $0.39 per share. GAAP EPS of $0.51 for Q1 were 8.9% lower than the prior-year quarter's $0.56 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.0%, 40 basis points worse than the prior-year quarter. Operating margin was 5.6%, 50 basis points better than the prior-year quarter. Net margin was 3.3%, 60 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.30 billion. On the bottom line, the average EPS estimate is $1.77.
Next year's average estimate for revenue is $5.01 billion. The average EPS estimate is $5.64.
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 $63.50.
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