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Jun 30, 2023
Allegiant Q2 2023 Earnings Report
Allegiant reported record total operating revenue and industry-leading operational performance, driven by robust leisure demand and team member contributions.
Key Takeaways
Allegiant Travel Company reported a strong second quarter in 2023, with a record $683.8 million in total operating revenue, an 8.6% increase year-over-year. GAAP diluted earnings per share were $4.80. The company achieved industry-leading operational performance with a controllable completion factor of 99.7%.
Total operating revenue increased by 8.6% year-over-year, reaching $683.8 million.
GAAP diluted earnings per share were reported at $4.80.
Airline-only operating income was $127.5 million, with an operating margin of 18.6%.
Total ancillary revenue per passenger increased by 8.6% year-over-year to $71.75.
Revenue by Segment
Forward Guidance
Full-year 2023 guidance is subject to revision.
Positive Outlook
- System ASMs - year over year change: 0 to 3%
- Scheduled service ASMs - year over year change: 0 to 3%
- Fuel cost per gallon: $2.90
- Available seat miles (ASMs)/gallon: ~84
- Depreciation expense: $230 to $235 million
Challenges Ahead
- Interest expense: $145 to $150 million
- Capitalized interest: ($30) to ($35) million
- Loss per share - Sunseeker: ~($1.25)
- Airline CAPEX Aircraft, engines, induction costs, and pre-delivery deposits: $490 to $500 million
- Recurring principal payments: $210 to $215 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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