---
schema_version: "secwatch.filing_event.v1"
accession: "0000766421-23-000031"
form_type: "8-K"
ticker: "ALK"
cik: "0000766421"
company_name: "ALASKA AIR GROUP, INC."
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T03:41:15.374886+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000766421-23-000031
- form_type: 8-K
- ticker: ALK
- cik: 0000766421
- company_name: ALASKA AIR GROUP, INC.
- filed_at: 2023-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/766421/000076642123000031/0000766421-23-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/766421/000076642123000031/alk-20230725.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000766421-23-000031
- JSON: https://secwatch.observer/filing/0000766421-23-000031.json
- Plain text: https://secwatch.observer/filing/0000766421-23-000031.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/766421/000076642123000031/0000766421-23-000031-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.