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Mar 31, 2022
Allegiant Q1 2022 Earnings Report
Reported financial results with a shift in demand environment and progress in Allegiant 2.0 strategy.
Key Takeaways
Allegiant Travel Company reported a loss before income taxes of $10.6 million and a GAAP operating income of $7.2 million for the first quarter of 2022. Despite a nearly 40 percent increase in the cost per fuel gallon, the company achieved a 21 percent operating margin during March. Total operating revenue was $500.1 million, up 10.7 percent compared to 2019.
Loss before income taxes of $10.6 million.
GAAP operating income of $7.2 million, yielding an operating margin of 1.4 percent.
Achieved a 21 percent operating margin during the month of March, despite a more than 40 percent increase in the average fuel cost per gallon throughout the quarter.
Total operating revenue was $500.1 million, up 10.7 percent year over three-year.
Revenue by Segment
Forward Guidance
The company expects second quarter total revenue to be up as much as 30 percent compared to 2019 revenue. Capacity is expected to increase roughly 12 percent year-over-three year. TRASM increases of nearly 20 percent are expected during the second quarter.
Positive Outlook
- Total operating revenue - year over three-year change 28 to 32%
- Capacity adjustments will help drive TRASM increases of nearly 20 percent during the second quarter
- Bullish historic industry leading performances in difficult times will continue.
- Substantial opportunities for new routes.
- Continued growth in the coming years.
Challenges Ahead
- Adjusted growth rate for the second quarter to better align with the high fuel cost environment
- Mindful of future slowdowns in the economy as the Fed begins its necessary tightening.
- Updated budget to $618 million for Sunseeker Resort, primarily due to inflationary pressures on materials as well as supply chain delays
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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