Alaska Air Q3 2023 Earnings Report
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%.
Alaska Air
Alaska Air
Alaska Air 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%
Revenue & Expenses
Visualization of income flow from segment revenue to net income