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Jun 30, 2023
Alaska Air Q2 2023 Earnings Report
Delivered industry-leading adjusted pre-tax margins of 18.3% on record quarterly revenue.
Key Takeaways
Alaska Air Group reported a strong second quarter with industry-leading adjusted pre-tax margins of 18.3% on record quarterly revenue. The company prioritized reliability, leading to improved predictability for guests and employees, record revenue, and a foundation for long-term profitable growth.
Reported net income for the second quarter of 2023 under Generally Accepted Accounting Principles (GAAP) of $240 million, or $1.86 per share.
Reported net income for the second quarter of 2023, excluding special items and mark-to-market fuel hedge accounting adjustments, of $387 million, or $3.00 per share.
Generated adjusted pre-tax margins of 18.3%, a 250-basis point increase over the same period in 2019.
Recorded $2.8 billion in operating revenue for the second quarter, the highest quarterly total in company history.
Revenue by Segment
Forward Guidance
Alaska Air Group provided the following outlook for the third quarter ending September 30, 2023:
Positive Outlook
- Capacity (ASMs) % change versus 2022: Up 10% to 13%
- Total revenue % change versus 2022: Up 0% to 3%
- Cost per ASM excluding fuel and special items (CASMex) % change versus 2022: Down 0% to 2%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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