Allegiant Travel Co

Latest Results (14.08.2024):

Revenue Growth

Allegiant Travel Co reported total operating revenue of $656.4 million for the first quarter of 2024, reflecting a 1.0% increase compared to the same period in 2023. This growth was driven by a strong demand environment, which contributed to the second-best first quarter TRASM (Total Revenue per Available Seat Mile) in the company's history.

Operating Income Decline

Despite the increase in revenue, Allegiant Travel Co's operating income for the first quarter of 2024 significantly declined to $15.4 million, an 83.8% drop from $94.8 million in the first quarter of 2023. This decrease was primarily due to higher operating expenses, which rose by 15.5% year-over-year.

Net Income and Earnings Per Share

Allegiant Travel Co reported a net loss of $0.9 million for the first quarter of 2024, compared to a net income of $56.1 million in the same period of the previous year. The diluted loss per share was $(0.07), a significant decline from the $3.09 earnings per share reported in the first quarter of 2023.

Special Charges Impact

Excluding special charges, Allegiant Travel Co's net income for the first quarter of 2024 was $10.4 million, down 81.2% from $55.3 million in the first quarter of 2023. The diluted earnings per share, excluding special charges, were $0.57, a decrease of 81.3% from $3.04 in the prior year.

Dividends and Cash Flow

During the first quarter of 2024, Allegiant Travel Co returned $11.0 million in dividends to shareholders and scheduled a quarterly dividend payment of $0.60 per share for June 3, 2024. The company generated $167.8 million in cash from operations and reported total available liquidity of $1.1 billion as of March 31, 2024.