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Alaska Air (ALK) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended June 2024, Alaska Air Group (ALK - Free Report) reported revenue of $2.9 billion, up 2.1% over the same period last year. EPS came in at $2.55, compared to $3.00 in the year-ago quarter.

The reported revenue represents a surprise of -1.93% over the Zacks Consensus Estimate of $2.95 billion. With the consensus EPS estimate being $2.36, the EPS surprise was +8.05%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: 84.1% versus 85.9% estimated by five analysts on average.
  • Operating expenses per ASM: 9.89 cents versus 14 cents estimated by four analysts on average.
  • Economic fuel cost per gallon: $2.84 compared to the $3.03 average estimate based on four analysts.
  • Available seat miles (ASM): 18,196 million compared to the 18,160.59 million average estimate based on four analysts.
  • Total revenue per ASM (RASM): 15.92 cents versus 16.24 cents estimated by four analysts on average.
  • Revenue passenger miles (RPM): 15,309 million versus the four-analyst average estimate of 15,492.26 million.
  • Fuel gallons: 219 Mgal versus 208.33 Mgal estimated by three analysts on average.
  • Passenger Yield: 17.32 cents versus 17.22 cents estimated by three analysts on average.
  • Consolidated - ASMs per fuel gallon: 83.1 Gal versus 87.69 Gal estimated by three analysts on average.
  • Revenue- Passenger: $2.65 billion versus $2.70 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2% change.
  • Revenue- Mileage Plan other: $174 million versus $176.17 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +2.4% change.
  • Revenue- Cargo and other: $72 million versus the four-analyst average estimate of $69.28 million. The reported number represents a year-over-year change of +2.9%.
View all Key Company Metrics for Alaska Air here>>>

Shares of Alaska Air have returned -2.4% over the past month versus the Zacks S&P 500 composite's +4.4% 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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