Allegiant Travel Company

Allegiant Travel Co. engages in the provision of travel services. It includes scheduled service air transportation, air-related travel services and product, third party travel products, and fixed fee contract air transportation. It operates through the following segments: Airline, Sunseeker Resort, and Other non-Airline. The Airline segment operates as a single business unit and includes all scheduled service air transportation, ancillary air-related products and services, third party products and services, fixed fee contract air transportation, and other airline-related revenue. The Sunseeker Resort segment represents activity related to the development and construction of Sunseeker Resort in Southwest Florida, as well as the operation of Kingsway Golf Course. The Other non-Airline segment includes the Teesnap golf course management solution and Allegiant Nonstop family entertainment centers. The company was founded in January 1997 and is headquartered in Las Vegas, NV.

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Allegiant Travel overcomes challenges, eyes growth through strategic initiatives

Allegiant Travel Company navigated challenges in Q4 2022 to achieve strong financial performance.
The company's focus on existing market growth and operational integrity positions it well for the future.
Opportunities in partnerships, insurance coverage, and strategic investments offer avenues for growth.
Challenges like pilot availability and inflationary pressures require proactive management.
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Allegiant Travel beats earnings expectations, eyes long-term growth opportunities

Allegiant Travel Company's Q1 performance exceeded expectations, with strong revenue growth and operational metrics showcasing resilience and continuous improvement.
While facing challenges from pilot inefficiency, labor costs, and capacity reductions, Allegiant remains focused on long-term value and profitability.
Opportunities in the Sunseeker Resort project, operational enhancements, and targeted strategies for leisure travel demand position Allegiant for future growth.
Maintaining strong liquidity and a commitment to operational reliability and brand integrity underscore Allegiant's positive outlook for the future.
Despite short-term challenges, Allegiant's financial performance and strategic focus highlight a path towards sustained success and profitability.

Allegiant Travel reports strong Q2 performance and strategic growth outlook

Allegiant Travel Company's Q2 performance reflects operational excellence, customer engagement, and promising revenue prospects, supported by strategic initiatives and strong demand for Sunseeker Resort.
While facing short-term financial challenges and cost pressures, Allegiant's focus on pilot recruitment, fleet expansion, and revenue optimization presents opportunities for sustainable growth and market leadership.
Overall, Allegiant's performance highlights resilience, strategic foresight, and a commitment to enhancing shareholder value, positioning the company for long-term success in the competitive airline industry.

Allegiant Travel reports 11th consecutive quarter of airline profits

Allegiant Travel Company (ALGT) continues its streak of airline operating profits, emphasizing cost discipline and strategic investments. Despite challenges like high fuel prices and tough competition, the company's focus on reshaping the leisure travel sector and driving revenue growth presents significant opportunities. With a strong performance in Q3 and a strategic approach to capacity management, Allegiant is poised for continued success.

Allegiant Travel reports record revenue, faces challenges with Sunseeker

Allegiant Travel Company's Q4 2023 Earnings Call highlighted strong financial performance, operational gains, and strategic initiatives to drive revenue growth and margin restoration. Despite challenges with Sunseeker's delayed contribution and ATI approval delays, the company remains focused on leveraging strengths in customer loyalty and brand demand.

Allegiant Travel Company faces Q1 challenges, eyes operational enhancements

Allegiant Travel Company faced challenges in Q1 2024 with below-expectation results and operational hurdles.
Despite setbacks, the company aims to enhance margins through strategic initiatives and revenue diversification.
Sunseeker Resorts' challenges and industry dynamics require ongoing adaptation and operational improvements.
Efforts to optimize operations, increase aircraft utilization, and focus on revenue streams highlight Allegiant's resilience and growth potential.

Allegiant Travel navigates challenges, eyes growth opportunities in 2025

Allegiant Travel Company faced operational challenges but is actively working to mitigate financial impacts and improve performance in 2025.
Despite concerns such as Boeing delays and industry challenges, Allegiant's unique business model and growth outlook position the company for future success.
The company's focus on revenue growth, operational efficiency, and strategic decision-making reflects a commitment to driving profitability and long-term value.
Analysts' questions and executive discussions highlighted areas of concern and strategic considerations, underscoring the need for proactive management and operational adjustments.

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Allegiant Travel Co. engages in the provision of leisure travel services. It operates through the Airline and Sunseeker Resort segments. The Airline segment involves the scheduled service air transportation, ancillary air-related and third-party products and services, fixed fee contract air transportation, and other airline-related revenue. The Sunseeker Resort segment includes hotel rooms and suites for occupancy, group meeting facilities, food and beverage options, the Aileron Golf Course, and other resort amenities. The company was founded in January 1997 and is headquartered in Las Vegas, NV.

LAS VEGAS , Sept. 5, 2024 /PRNewswire/ -- Allegiant (NASDAQ: ALGT) today announced that Scott DeAngelo, executive vice president and chief marketing officer, has resigned.

Allegiant Announces Resignation of Executive Vice President and Chief Marketing Officer Scott DeAngelo

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While Copa Holdings (CPA) and Ryanair Holdings (RYAAY) report impressive traffic numbers for July 2024, Allegiant (ALGT) posts dull numbers.

Airline Stocks Reports July Traffic Numbers: An Analysis

Allegiant Travel's (ALGT) proactive measures to expand its fleet are praiseworthy. However, elevated labor and fuel costs are hurting the company's prospects.

Here's Why You Should Retain Allegiant Travel (ALGT) Stock

Allegiant's (ALGT) load factor for July 2024 came in at 87.5%.

Allegiant (ALGT) Posts Unimpressive July Traffic Numbers

LAS VEGAS , Aug. 20, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for July 2024. Scheduled Service – Year Over Year Comparison July 2024 July 2023 Change Passengers 1,897,963 1,934,464 (1.9 %) Revenue passenger miles (000) 1,683,321 1,711,901 (1.7 %) Available seat miles (000) 1,923,205 1,877,266 2.4 % Load factor 87.5 % 91.2 %  (3.7pts) Departures 12,580 12,252 2.7 % Average stage length (miles) 870 867 0.3 %   Total System* - Year Over Year Comparison July 2024 July 2023 Change Passengers 1,908,813 1,943,900 (1.8 %) Available seat miles (000) 1,968,720 1,907,384 3.2 % Departures 12,912 12,459 3.6 % Average stage length (miles) 868 866 0.2 % *Total system includes scheduled service and fixed fee contract.

Allegiant Reports July 2024 Traffic

Allegiant Air stock is undervalued, down -55% YTD and trading at a 12-year low, with potential for significant growth and profitability. Q2 results show operating improvements, cost stabilization, and revenue growth potential, despite ongoing challenges in the industry. ALGT's balance sheet provides a substantial margin of safety, with strong asset value, manageable debt, and potential acquisition interest from competitors.

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Allegiant Rewards Visa® Is Top Ranked For Sixth Consecutive Year LAS VEGAS , Aug. 7, 2024 /PRNewswire/ -- Allegiant (NASDAQ: ALGT) travelers have spoken, and their customer satisfaction and loyalty has propelled the airline to new heights once again. The premier airline for leisure travel, connecting small to medium-sized cities to top vacation destinations, has been named as the number one Best Airline Credit Card and Best Frequent Flyer program in USA TODAY's 10Best 2024 Readers' Choice Awards.

Allegiant Claims Top Spot in USA TODAY's Readers' Choice Awards for Best Airline Credit Card and Best Frequent Flyer Program

Allegiant Travel Company (NASDAQ:ALGT ) Q2 2024 Earnings Conference Call July 31, 2024 4:30 PM ET Company Participants Sherry Wilson – Managing Director-Investor Relations Maury Gallagher – Executive Chairman and Chief Executive Officer Greg Anderson – President and Incoming Chief Executive Officer Scott DeAngelo – Executive Vice President and Chief Marketing Officer Drew Wells – Senior Vice President and Chief Revenue Officer Robert Neal – Senior Vice President and Chief Financial Officer Micah Richins – President-Sunseeker Resorts Conference Call Participants Shannon Doherty – Deutsche Bank Katherine Kallergis – Morgan Stanley Scott Group – Wolfe Research Savi Syth – Raymond James Conor Cunningham – Melius Research Duane Pfennigwerth – Evercore Dan McKenzie – Seaport Global Andrew Didora – Bank of America Operator Thank you for standing by. My name is Amy, and I will be your conference operator for today.

Allegiant Travel Company (ALGT) Q2 2024 Earnings Call Transcript

The headline numbers for Allegiant Travel (ALGT) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Allegiant Travel (ALGT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Allegiant Travel (ALGT) came out with quarterly earnings of $1.77 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $4.35 per share a year ago.

Allegiant Travel (ALGT) Tops Q2 Earnings and Revenue Estimates

Second quarter 2024 GAAP diluted earnings per share of $0.75 Second quarter  2024 diluted earnings per share, excluding special charges, of $1.77 (1)(3) Second quarter  2024 airline only diluted earnings per share, excluding special charges, of $2.24 (1)(3) ANNOUNCED STRATEGIC REVIEW OF SUNSEEKER RESORT LAS VEGAS , July 31, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the second quarter 2024, as well as comparisons to the prior year: Consolidated Three Months Ended June 30, Percent Change (unaudited) (in millions, except per share amounts) 2024 2023 YoY Total operating revenue $                   666.3 $                   683.8 (2.6) % Total operating expense 631.4 550.4 14.7 % Operating income 34.9 133.4 (73.8) % Income before income taxes 18.0 116.3 (84.5) % Net income 13.7 88.5 (84.5) % Diluted earnings per share 0.75 4.80 (84.4) % Sunseeker special charges, net of recoveries (3) (2.0) (11.2) 82.1 % Airline special charges (3) 20.1 — NM Net income, excluding special charges net of recoveries (1)(3) 32.5 80.2 (59.5) % Diluted earnings per share excluding special charges net of recoveries (1)(3) 1.77 4.35 (59.3) % Airline only Three Months Ended June 30, Percent Change (2) (unaudited) (in millions, except per share amounts) 2024 2023 YoY Airline operating revenue $               649.5 $               683.8 (5.0) % Airline operating expense 602.5 556.3 8.3 % Airline operating income 47.0 127.5 (63.1) % Airline income before income taxes 35.5 110.4 (67.8) % Airline special charges (3) 20.1 — NM Airline net income, excluding special charges (1)(3) 41.0 84.2 (51.3) % Airline operating margin, excluding special charges (1)(3) 10.3 % 18.6 % (8.3) Airline diluted earnings per share, excluding special charges (1)(3) 2.24 4.57 (51.0) % Consolidated Six Months Ended June 30, Percent Change (unaudited) (in millions, except per share amounts) 2024 2023 YoY Total operating revenue $                1,322.7 $                1,333.5 (0.8) % Total operating expense 1,272.3 1,105.2 15.1 % Operating income 50.3 228.3 (78.0) % Income before income taxes 16.7 190.8 (91.2) % Net income 12.8 144.6 (91.1) % Diluted earnings per share 0.68 7.84 (91.3) % Sunseeker special charges, net of recoveries (3) (3.8) (12.8) 70.3 % Airline special charges (3) 35.0 — NM Net income, excluding special charges net of recoveries (1)(3) 42.9 135.6 (68.4) % Diluted earnings per share excluding special charges net of recoveries (1)(3) 2.34 7.35 (68.2) % Airline only Six Months Ended June 30, Percent Change(2) (unaudited) (in millions, except per share amounts) 2024 2023 YoY Airline operating revenue $            1,282.0 $            1,333.5 (3.9) % Airline operating expense 1,210.8 1,108.4 9.2 % Airline operating income 71.2 225.1 (68.4) % Airline income before income taxes 48.0 189.2 (74.6) % Airline special charges (3) 35.0 — NM Airline net income, excluding special charges (1)(3) 60.8 144.2 (57.8) % Airline operating margin, excluding special charges (1)(3) 8.3 % 16.9 % (8.6) Airline diluted earnings per share, excluding special charges (1)(3) 3.31 7.81 (57.6) % (1)  Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures.

ALLEGIANT TRAVEL COMPANY SECOND QUARTER 2024 FINANCIAL RESULTS

Company engages Prospect Hotel Advisors for their specialized expertise LAS VEGAS , July 31, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) announced today it has retained global hospitality asset management firm Prospect Hotel Advisors, LLC to conduct a strategic review of its hotel, Sunseeker Resort Charlotte Harbor. The recently opened resort, located in Southwest Florida, is a wholly owned subsidiary of Allegiant Travel Company and is Florida's premier gulf coast oasis, offering magnificent views, amazing pools, world class restaurants, championship golf, a full-service spa and many other amenities.

Allegiant Announces Strategic Review of Sunseeker Resort

High fuel costs are likely to have hurt Allegiant Travel's (ALGT) bottom-line performance in Q2.

What's in Store for Allegiant Travel (ALGT) in Q2 Earnings?

LAS VEGAS , July 29, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT), in partnership with the Boys & Girls Club of America, today announced Jill Prime, 17, as the recipient of the airline's Careers in Aviation scholarship. Jill will receive $34,000 from Allegiant, which she will use to pay for tuition and expenses as she pursues her bachelor's degree at Embry-Riddle Aeronautical University.

Allegiant Surprises Aspiring Pilot with a $34,000 Aviation Scholarship to Attend Dream University

LAS VEGAS , July 25, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for June 2024. Scheduled Service – Year Over Year Comparison June 2024 June 2023 Change Passengers 1,830,067 1,802,886 1.5 % Revenue passenger miles (000) 1,612,782 1,590,984 1.4 % Available seat miles (000) 1,862,875 1,766,164 5.5 % Load factor 86.6 % 90.1 % (3.5 pts) Departures 12,217 11,530 6.0 % Average stage length (miles) 868 868 0.0 % 2 nd Quarter 2024 2 nd Quarter 2023 Change Passengers 4,572,769 4,719,623 (3.1 %) Revenue passenger miles (000) 4,108,288 4,278,399 (4.0 %) Available seat miles (000) 4,848,017 4,925,194 (1.6 %) Load factor 84.7 % 86.9 % (2.2 pts) Departures 31,128 31,487 (1.1 %) Average stage length (miles) 885 887 (0.2 %) Total System* - Year Over Year Comparison June 2024 June 2023 Change Passengers 1,849,172 1,814,041 1.9 % Available seat miles (000) 1,931,393 1,805,699 7.0 % Departures 12,639 11,816 7.0 % Average stage length (miles) 870 866 0.5 % 2 nd Quarter 2024 2 nd Quarter 2023 Change Passengers 4,621,848 4,755,981 (2.8 %) Available seat miles (000) 5,013,209 5,053,547 (0.8 %) Departures 32,252 32,396 (0.4 %) Average stage length (miles) 883 884 (0.1 %) *Total system includes scheduled service and fixed fee contract.

Allegiant Reports June 2024 Traffic

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Anderson brings immense experience to the table, having joined Allegiant Travel (ALGT) in 2010.

Allegiant Travel (ALGT) to Have a New CEO From September

Maurice J. Gallagher to transition to Executive Chairman LAS VEGAS , July 18, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) announced today that Gregory C. Anderson has been named CEO and President of the Company succeeding Maurice J.

Allegiant Announces President Greg Anderson as Next CEO

The Airline Offers New Low-Cost Travel Options to Popular Destinations in 13 Cities LAS VEGAS , July 16, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today announced eight new nonstop routes to 13 cities around the country. To celebrate, the company is offering one-way fares on the new routes as low as $39.

Allegiant Announces Eight New Routes with One-Way Fares as Low as $39*

LAS VEGAS , July 11, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) has scheduled its second quarter 2024 financial results conference call for Wednesday, July 31 at 4:30 p.m. EDT. A live broadcast of the conference call will be available through the company's Investor Relations website homepage at http://ir.allegiantair.com.

Allegiant Travel Company Schedules Second Quarter 2024 Earnings Call

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Allegiant's (ALGT) load factor for May 2024 came in at 84.8%.

Allegiant (ALGT) Posts Unimpressive May Traffic Numbers

LAS VEGAS , June 28, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for May 2024. Scheduled Service – Year Over Year Comparison May 2024 May 2023 Change Passengers 1,414,692 1,405,428 0.7 % Revenue passenger miles (000) 1,263,087 1,270,338 (0.6 %) Available seat miles (000) 1,489,477 1,478,396 0.7 % Load factor 84.8 % 85.9 % (1.1) pts Departures 9,615 9,489 1.3 % Average stage length (miles) 882 884 (0.2 %) Total System* - Year Over Year Comparison May 2024 May 2023 Change Passengers 1,428,599 1,417,520 0.8 % Available seat miles (000) 1,538,208 1,527,737 0.7 % Departures 9,976 9,828 1.5 % Average stage length (miles) 877 881 (0.5 %) *Total system includes scheduled service and fixed fee contract.

News for Allegiant Travel Company Stock (ALGT)