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The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the preceding four quarters (missed once), the average beat being 22.68%.
Let’s see how things have shaped up for Alaska Air this earnings season.
Q2 Expectations
The Zacks Consensus Estimate for Alaska Air’s second-quarter 2024 revenues is pegged at $2.96 billion, indicating 4.37% growth year over year. The top line is likely to have been aided bycontinued recovery in air-travel demand.
On the back of upbeat air-travel demand and favorable pricing, the company expects to boost its fleet and workforce to meet the anticipated high demand. To match the upbeat demand, available seat miles (a measure of capacity) is expected to increase in the range of 5-7% in the second quarter of 2024 from second-quarter 2023 actuals.
Driven by upbeat air-travel demand, ALK issued a bullish earnings per share (EPS) guidance for second-quarter 2024, after posting loss in the first quarter. ALK expects second-quarter EPS between $2.20 and $2.40. Notably, the Zacks Consensus Estimate for ALK’s second-quarter 2024 EPS has been revised upward by 8.8% in the past 90 days to $2.36. However, the consensus mark implies a 21.33% decline from the year-ago actuals.
Expenses related to fuel prices are likely to weigh on ALK’s bottom-line growth. Economic fuel price per gallon is expected in the $3.00-$3.20 per gallon range in the second quarter of 2024.
What Our Model Says
Our proven model predicts an earnings beat for Alaska Air this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Alaska Air has an Earnings ESP of +0.69% and a Zacks Rank #3.
Alaska Air reported first-quarter 2024 loss per share of 92 cents, which was narrower than the Zacks Consensus Estimate of a loss of $1.09. In the year-ago quarter, ALK reported a loss of 62 cents per share.
Operating revenues of $2.23 billion surpassed the Zacks Consensus Estimate of $2.18 billion. The top line jumped 2% year over year, with passenger revenues accounting for 89.7% of the top line and increasing 1% owing to continued recovery in air-travel demand.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat second-quarter 2024 earnings.
CPA will release results on Aug 7. Upbeat air-travel demand is likely to have aided the second-quarter performance.
The Zacks Consensus Estimate for CPA’s second-quarter 2024 earnings has been revised downward by 16.3% in the past 60 days to $2.98 per share. CPA has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 20.19%.
Expeditors International of Washington (EXPD - Free Report) has an Earnings ESP of +3.15% and a Zacks Rank #3. EXPD is scheduled to report second-quarter 2024 earnings on Aug 6. Lackluster volumes (with respect to air-freight tonnage and ocean containers) due to weakening demand and declining rates are likely to have hurt EXPD’s performance in the to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings has been revised 1.68% upward in the last 60 days. EXPD surpassed the Zacks Consensus Estimate for earnings in only one of the preceding four quarters and missed thrice, the average miss being 3.44%.
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Is a Beat in Store for Alaska Air (ALK) in Q2 Earnings?
Alaska Air Group, Inc. (ALK - Free Report) ) is scheduled to report second-quarter 2024 results on Jul 18, before market open.
The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the preceding four quarters (missed once), the average beat being 22.68%.
Let’s see how things have shaped up for Alaska Air this earnings season.
Q2 Expectations
The Zacks Consensus Estimate for Alaska Air’s second-quarter 2024 revenues is pegged at $2.96 billion, indicating 4.37% growth year over year. The top line is likely to have been aided bycontinued recovery in air-travel demand.
On the back of upbeat air-travel demand and favorable pricing, the company expects to boost its fleet and workforce to meet the anticipated high demand. To match the upbeat demand, available seat miles (a measure of capacity) is expected to increase in the range of 5-7% in the second quarter of 2024 from second-quarter 2023 actuals.
Driven by upbeat air-travel demand, ALK issued a bullish earnings per share (EPS) guidance for second-quarter 2024, after posting loss in the first quarter. ALK expects second-quarter EPS between $2.20 and $2.40. Notably, the Zacks Consensus Estimate for ALK’s second-quarter 2024 EPS has been revised upward by 8.8% in the past 90 days to $2.36. However, the consensus mark implies a 21.33% decline from the year-ago actuals.
Expenses related to fuel prices are likely to weigh on ALK’s bottom-line growth. Economic fuel price per gallon is expected in the $3.00-$3.20 per gallon range in the second quarter of 2024.
What Our Model Says
Our proven model predicts an earnings beat for Alaska Air this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Alaska Air has an Earnings ESP of +0.69% and a Zacks Rank #3.
Alaska Air Group, Inc. Price and EPS Surprise
Alaska Air Group, Inc. price-eps-surprise | Alaska Air Group, Inc. Quote
Highlights of Q1
Alaska Air reported first-quarter 2024 loss per share of 92 cents, which was narrower than the Zacks Consensus Estimate of a loss of $1.09. In the year-ago quarter, ALK reported a loss of 62 cents per share.
Operating revenues of $2.23 billion surpassed the Zacks Consensus Estimate of $2.18 billion. The top line jumped 2% year over year, with passenger revenues accounting for 89.7% of the top line and increasing 1% owing to continued recovery in air-travel demand.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat second-quarter 2024 earnings.
Copa Holdings(CPA - Free Report) has an Earnings ESP of +3.01% and carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
CPA will release results on Aug 7. Upbeat air-travel demand is likely to have aided the second-quarter performance.
The Zacks Consensus Estimate for CPA’s second-quarter 2024 earnings has been revised downward by 16.3% in the past 60 days to $2.98 per share. CPA has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 20.19%.
Expeditors International of Washington (EXPD - Free Report) has an Earnings ESP of +3.15% and a Zacks Rank #3. EXPD is scheduled to report second-quarter 2024 earnings on Aug 6. Lackluster volumes (with respect to air-freight tonnage and ocean containers) due to weakening demand and declining rates are likely to have hurt EXPD’s performance in the to-be-reported quarter.
The Zacks Consensus Estimate for second-quarter earnings has been revised 1.68% upward in the last 60 days. EXPD surpassed the Zacks Consensus Estimate for earnings in only one of the preceding four quarters and missed thrice, the average miss being 3.44%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar