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Mar 31, 2021
Allegiant Q1 2021 Earnings Report
Allegiant's Q1 2021 earnings were impacted by the pandemic but showed signs of recovery, with restored capacity and improved booking trends.
Key Takeaways
Allegiant Travel Company reported a GAAP earnings per share of $0.42 for the first quarter of 2021. The company restored capacity to pre-pandemic levels and saw improved booking trends towards the end of the quarter. They anticipate continued revenue growth throughout 2021.
GAAP earnings per share of $0.42.
Restored capacity to pre-pandemic levels, with scheduled service capacity up 3.1 percent versus first quarter of 2019.
Total revenue for the quarter was $279.1 million, up 13.2 percent from the fourth quarter.
Expanded the network by adding 50 new routes, three new cities, and nine event-specific routes.
Revenue by Segment
Forward Guidance
Allegiant expects sequential scheduled service revenue improvement with revenue down just six to ten percent as compared with 2019 levels. Full-year, 2021 capacity should exceed 2019 capacity levels.
Positive Outlook
- System ASMs - year over two-year change between 2.0 to 6.0%
- Scheduled Service ASMs - year over two-year change between 2.0 to 6.0%
- Scheduled service revenue - year over two-year change, excluding fixed fee and other revenue down 6 to 10%
- CAPEX Aircraft, engines and induction costs between $115 million to $125 million
- Capitalized Airbus deferred heavy maintenance between $50 million to $60 million
Challenges Ahead
- Other capital expenditures between $40 million to $50 million
- Interest expense between $65 million to $70 million
- Recurring principal payments between $170 million to $180 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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