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Mar 31, 2023
Allegiant Q1 2023 Earnings Report
Delivered strong financial results driven by operational integrity and strong demand.
Key Takeaways
Allegiant Travel Company reported strong financial results for Q1 2023, with a diluted earnings per share of $3.09. The company saw a 30% increase in total operating revenue year-over-year, reaching $650 million. The airline's operational performance was strong, with a controllable completion rate of 99.9 percent.
Reported diluted earnings per share of $3.09 for the first quarter 2023.
Total operating revenue increased by 30 percent year-over-year to $650 million.
Total ancillary per passenger reached $75.19, the highest quarterly result in company history.
The company updated its full-year airline-only earnings per share guidance to roughly $11.
Revenue by Segment
Forward Guidance
Allegiant updated its full-year guidance and estimates a full-year, airline-only earnings per share of roughly $11. The increase is driven by a reduction in estimated fuel cost per gallon offset slightly by a two-and-a-half point reduction in full-year capacity.
Positive Outlook
- Reduction in estimated fuel cost per gallon.
- Positioning forward plan to achieve a full-year, controllable completion of at least 99.5 percent.
- Booking data continues to reflect a strong demand environment, particularly during peak summer travel periods.
- Remain on track to open Sunseeker Resort in mid-October.
- Team continues to attract high-quality group business with over $12 million in contracted future bookings.
Challenges Ahead
- Two-and-a-half point reduction in full-year capacity.
- Industry continues to experience challenges from supply chain delays to ATC constraints.
- Expect the final capital expenditure budget for Sunseeker Resort to be $695 million due to inflationary pressures and supply chain issues.
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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