Allegiant Q2 GAAP EPS $0.75 vs $4.80; adjusts to $1.77; Sunseeker strategic review; dividend suspended

Allegiant Travel CO

2024-Q2 EPS reported $0.68 revenue$1,322,688,000

GAAP diluted EPS $0.75 (down 84.4% YoY); adjusted EPS $1.77 (down 59.3%).
Total operating revenue $666.3M, down 2.6%; airline-only revenue $649.5M, down 5%.
Airline-only operating margin ex specials 10.3% vs 18.6%; plans to suspend quarterly dividend indefinitely.
Sunseeker Resort generated $16.8M revenue, occupancy ~35%; strategic review initiated with Prospect Hotel Advisors.
Q3 airline-only guidance: ASM growth ~1.3%, fuel ~$2.80/gal, adjusted loss per share ($1.50)-($2.50).

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