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Dec 31, 2021
Allegiant Q4 2021 Earnings Report
Allegiant reported strong Q4 2021 results with a revenue increase and positive earnings per share, despite challenges from the Omicron variant.
Key Takeaways
Allegiant Travel Company reported a GAAP diluted earnings per share of $0.59 for the fourth quarter of 2021. Total operating revenue increased by 7.8% compared to the fourth quarter of 2019, reaching $496.9 million. The company faced operational challenges due to the Omicron variant, resulting in flight cancellations and increased irregular operations expenses.
GAAP diluted earnings per share were $0.59 for Q4 2021.
Adjusted diluted earnings per share were $1.18 for Q4 2021.
Total operating revenue increased by 7.8% compared to Q4 2019, reaching $496.9 million.
Load factors sequentially improved throughout the year, with Q4 loads at 77.1%.
Revenue by Segment
Forward Guidance
Despite the Omicron variant, forward bookings are strong for upcoming peak leisure travel periods, particularly for spring break. The booking curve has normalized to its pre-COVID state, and positive demand trends are emerging into early summer. The company expects to end 2022 with 127 aircraft, all with 186 seats, increasing seats per departure. The Boeing transaction will increase incremental route opportunities to 1,400, and progress on Sunseeker is on track to open in early 2023.
Positive Outlook
- Forward bookings are strong for peak leisure travel periods.
- Spring break bookings are particularly strong.
- The booking curve has normalized to its pre-COVID state.
- Positive demand trends are emerging into early summer.
- Third-party revenues have outperformed 2019 due to strength with the cobrand credit card program.
Challenges Ahead
- Operation was challenged by impacts from the Omicron variant.
- Experienced unprecedented crew shortages due to COVID.
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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