Alaska Air beats Q2 EPS consensus at $3.00; reports record revenue $2.8B and expands credit facility

ALASKA AIR GROUP, INC.

2023-Q2 EPS reported $0.76 revenue$5,034,000,000

Q2 GAAP net income $240M ($1.86 EPS); adjusted net income $387M ($3.00 EPS), beating consensus of $2.70.
Record quarterly operating revenue $2.8B; adjusted pre-tax margin 18.3%, up 250 bps vs Q2 2019.
Amended aircraft credit facility: term extended to June 2026, size increased from $250M to $400M, SOFR-based.
Repurchased ~872K shares for $39M in Q2; expects at least $100M in full-year 2023 repurchases.
Ended Q2 with $2.4B cash, debt-to-cap ratio 48% within target range.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ALASKA AIR GROUP, INC. reported second quarter ending June 30, 2023 results: revenue $2.8 billion, net income $240 million, EPS $1.86 per share.

Period: second quarter ending June 30, 2023
Revenue: $2.8 billion
Net income: $240 million
EPS: $1.86 per share
Result: reported results

Exact text from the filing

Financial Highlights: • Reported net income for the second quarter of 2023 under Generally Accepted Accounting Principles (GAAP) of $240 million, or $1.86 per share, compared to a net income of $139 million, or $1.09 per share, for the second quarter of 2022. • 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, compared to $280 million, or $2.19 per share, for the second quarter of 2022. This quarter's adjusted results exceed the First Call analyst consensus estimate of $2.70 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.

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Source: SEC EDGAR

accession 0000766421-23-000031

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