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Compared to Estimates, Alaska Air (ALK) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Alaska Air Group (ALK - Free Report) reported revenue of $2.84 billion, up 0.4% over the same period last year. EPS came in at $1.83, compared to $2.53 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.88 billion, representing a surprise of -1.29%. The company delivered an EPS surprise of -2.66%, with the consensus EPS estimate being $1.88.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Alaska Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Passenger Load Factor: 84.6% versus 85.1% estimated by five analysts on average.
Available seat miles (ASM): 18,582 million versus the four-analyst average estimate of 18,394.28 million.
Revenue passenger miles (RPM): 15,718 million versus the four-analyst average estimate of 15,641.13 million.
Operating expenses per ASM: 14.14 cents versus 13.68 cents estimated by four analysts on average.
Total revenue per ASM (RASM): 15.28 cents versus 15.61 cents estimated by four analysts on average.
Fuel Expenses: $694 million compared to the $632.19 million average estimate based on four analysts.
Economic fuel cost per gallon: $3.26 versus $3.08 estimated by four analysts on average.
Operating expenses per ASM, excluding fuel and special items: 9.57 cents versus the four-analyst average estimate of 9.89 cents.
Consolidated - ASMs per fuel gallon: 83 Gal versus 83.86 Gal estimated by three analysts on average.
Revenue- Passenger: $2.62 billion versus $2.63 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
Revenue- Mileage Plan other: $159 million versus $168.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.9% change.
Revenue- Cargo and other: $62 million versus $66.85 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -7.5% change.
Shares of Alaska Air have returned -15.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Alaska Air (ALK) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Alaska Air Group (ALK - Free Report) reported revenue of $2.84 billion, up 0.4% over the same period last year. EPS came in at $1.83, compared to $2.53 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $2.88 billion, representing a surprise of -1.29%. The company delivered an EPS surprise of -2.66%, with the consensus EPS estimate being $1.88.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Alaska Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Passenger Load Factor: 84.6% versus 85.1% estimated by five analysts on average.
- Available seat miles (ASM): 18,582 million versus the four-analyst average estimate of 18,394.28 million.
- Revenue passenger miles (RPM): 15,718 million versus the four-analyst average estimate of 15,641.13 million.
- Operating expenses per ASM: 14.14 cents versus 13.68 cents estimated by four analysts on average.
- Total revenue per ASM (RASM): 15.28 cents versus 15.61 cents estimated by four analysts on average.
- Fuel Expenses: $694 million compared to the $632.19 million average estimate based on four analysts.
- Economic fuel cost per gallon: $3.26 versus $3.08 estimated by four analysts on average.
- Operating expenses per ASM, excluding fuel and special items: 9.57 cents versus the four-analyst average estimate of 9.89 cents.
- Consolidated - ASMs per fuel gallon: 83 Gal versus 83.86 Gal estimated by three analysts on average.
- Revenue- Passenger: $2.62 billion versus $2.63 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
- Revenue- Mileage Plan other: $159 million versus $168.25 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.9% change.
- Revenue- Cargo and other: $62 million versus $66.85 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -7.5% change.
View all Key Company Metrics for Alaska Air here>>>Shares of Alaska Air have returned -15.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.