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Sep 30, 2023
Alaska Air Q3 2023 Earnings Report
Alaska Air Group reported strong Q3 2023 results, led the industry in completion rate, and delivered an adjusted pretax margin among the best in the industry despite West Coast fuel price headwinds.
Key Takeaways
Alaska Air Group reported a net income of $139 million, or $1.08 per share, for the third quarter of 2023. Excluding special items and mark-to-market fuel hedge accounting adjustments, net income was $237 million, or $1.83 per share. The company recorded $2.8 billion in operating revenue and reduced CASM excluding fuel and special items by 5% compared to the third quarter of 2022.
Reported net income for the third quarter of 2023 under Generally Accepted Accounting Principles (GAAP) of $139 million, or $1.08 per share.
Recorded $2.8 billion in operating revenue.
Reduced CASM excluding fuel and special items by 5% compared to the third quarter of 2022.
Finished the third quarter with an industry-leading completion rate of 99.7%.
Revenue by Segment
Forward Guidance
Alaska Air Group provided outlook for the fourth quarter ending December 31, 2023.
Positive Outlook
- Capacity (ASMs) % change versus 2022: Up 11% to 14%
- Total revenue % change versus 2022: Up 1% to 4%
- Cost per ASM excluding fuel and special items (CASMex) % change versus 2022: Down 3% to 5%
Challenges Ahead
- Economic fuel cost per gallon: $3.30 to $3.40
- Adjusted pretax margin %: 0% to 2%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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