earnings
confidence high
sentiment positive
materiality 0.85
Alaska Air Q3 adj EPS $2.25 beats guidance; Hawaiian acquisition closed; $2B Mileage Plan financing
ALASKA AIR GROUP, INC.
2024-Q3 EPS reported
$2.52
revenue$8,201,000,000
- Q3 GAAP EPS $1.84, adjusted EPS $2.25 vs guidance $1.40-$1.60; revenue RASM up 1.3%.
- Completed acquisition of Hawaiian Airlines on Sept 18; includes 13 days of results in Q3.
- Raised $2B in debt via Mileage Plan; used $1.4B to repay higher-cost debt, ~$30M annual interest savings.
- Q4 guidance: adj EPS $0.20-$0.40, RASM up mid-single digits, CASMex up high single digits.
- Liquidity $3.4B; debt to cap 58%, net leverage 2.4x after October refinancing.