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Alaska Air Group, Inc. (ALK - Free Report) ) reported second-quarter 2018 earnings per share (excluding 10 cents from non-recurring items) of $1.66 per share, surpassing the Zacks Consensus Estimate of $1.63. Earnings declined on a year-over-year basis mainly due to high fuel costs.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Alaska Air Group depicted a gloomy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for second-quarter earnings being revised downward to the tune of 6.9% over the last 60 days
Prior to the earnings beat in the second-quarter, the company delivered positive surprises in two of the last four quarters. The average earnings beat was 6.8%.
Alaska Air Group recorded operating revenues of $2,156 million, which fell short of the Zacks Consensus Estimate of $2,174.2 million. However, revenues increased on a year over year basis.
Key Stats: The carrier, which acquired Virgin America in December 2016, paid a dividend to 32 cents per share in the second quarter, up 7% year-over-year. The carrier exited the quarter with $1.6 billion in unrestricted cash and marketable securities. Economic fuel cost per gallon increased 34.5% to $2.30 in the second quarter of 2018.
Stock Price: The revenue miss and the year over year decline in earnings per share due to high fuel costs disappointed investors. Consequently, shares of the company were down in pre-market trading at the time of writing.
Check back later for our full write up on this Alaska Air Group earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Alaska Air Group (ALK) Beats on Q2 Earnings
Alaska Air Group, Inc. (ALK - Free Report) ) reported second-quarter 2018 earnings per share (excluding 10 cents from non-recurring items) of $1.66 per share, surpassing the Zacks Consensus Estimate of $1.63. Earnings declined on a year-over-year basis mainly due to high fuel costs.
How Was the Estimate Revision Trend?
Investors should note that the earnings estimate revisions for Alaska Air Group depicted a gloomy picture prior to the earnings release. The stock had seen the Zacks Consensus Estimate for second-quarter earnings being revised downward to the tune of 6.9% over the last 60 days
Prior to the earnings beat in the second-quarter, the company delivered positive surprises in two of the last four quarters. The average earnings beat was 6.8%.
Alaska Air Group, Inc. Price and EPS Surprise
Alaska Air Group, Inc. Price and EPS Surprise | Alaska Air Group, Inc. Quote
Revenues Lower Than Expected
Alaska Air Group recorded operating revenues of $2,156 million, which fell short of the Zacks Consensus Estimate of $2,174.2 million. However, revenues increased on a year over year basis.
Key Stats: The carrier, which acquired Virgin America in December 2016, paid a dividend to 32 cents per share in the second quarter, up 7% year-over-year. The carrier exited the quarter with $1.6 billion in unrestricted cash and marketable securities. Economic fuel cost per gallon increased 34.5% to $2.30 in the second quarter of 2018.
Zacks Rank: Currently, Alaska Air Group has a Zacks Rank #5 (Strong Sell) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Price: The revenue miss and the year over year decline in earnings per share due to high fuel costs disappointed investors. Consequently, shares of the company were down in pre-market trading at the time of writing.
Check back later for our full write up on this Alaska Air Group earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>