Published on 10 May 2024 on Zacks via Yahoo Finance

Allegiant (ALGT) Stock Up 1.2% on Q1 Earnings & Revenue Beat

Allegiant Travel Company's (ALGT) shares have gained 1.2% since its first-quarter 2024 earnings release on May 7. Quarterly earnings 57 cents beat Zacks Consensus Estimate of 51 cents but declined 81.3% year over year. Operating revenues of $656.4 million outperformed the Zacks Consensus Estimate of $648.4 million and increased 1% on a year-over-year basis.

Passenger revenues, which accounted for the bulk (88%) of the top line, fell 4.8% on a year-over-year basis. Air traffic (measured in revenue passenger miles) for scheduled service fell 1.1% year over year in the quarter under review. Capacity (measured in available seat miles or ASMs) grew 1.4% from the year-ago number. Load factor (percentage of seats filled by passengers) inched down to 83.8% from 85.8% in the reported quarter, as traffic did not outperform capacity.

Allegiant Travel Company Price, Consensus and EPS Surprise