Loading...
•
Mar 31, 2023
Alaska Air Q1 2023 Earnings Report
Alaska Air Group reported financial results for the first quarter ending March 31, 2023, showing a return to pre-pandemic levels of flying and progress on its roadmap to profitable growth.
Key Takeaways
Alaska Air Group reported a net loss of $142 million for Q1 2023, but excluding special items and fuel hedge adjustments, the net loss was $79 million. The company is on track to meet its full-year financial targets, including an adjusted pre-tax margin of 9% to 12%.
Returned to pre-pandemic levels of flying with a roadmap to profitable growth on track.
Productivity improved by 6% and pilot training throughput doubled over the prior year.
Resumed the share repurchase program, buying back 413,554 shares for $18 million.
Activated new benefits for Alaska Visa Signature cardholders, driving cash remuneration up 17% year-over-year.
Revenue by Segment
Forward Guidance
Second quarter guidance reflects the continuation of improving operational and financial performance trends that we experienced in March. For the full year, we continue to expect achievement of our previous guidance, including adjusted pre-tax margins of 9% to 12%, and earnings per share of $5.50 to $7.50.
Positive Outlook
- Capacity (ASMs) % change versus 2022: Up 6% to 9%
- Total revenue % change versus 2022: Up 2.5% to 5.5%
- Cost per ASM excluding fuel and special items (CASMex) % change versus 2022: Up 1% to 3%
- Economic fuel cost per gallon: $2.95 to $3.15
- Adjusted pre-tax margin %: 14% to 17%
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...