Allegiant Travel Company (NASDAQ:ALGT) was the biggest gainer in the airline sector in mid-day trading on Thursday after the company smashed consensus expectations with its Q4 earnings report.
Total revenue per available seat mile soared 21% over the 2019 level to $0.1403 on a scheduled service capacity increases of 11.9%.
Load factor was up 3.2 percentage points from 2019 to 85.3%. The load factor in December of 84.7% was the highest for the month since 2014.
Total average fare was up 22.6% from 2019 to $151.08 and total average ancillary spending of $72.94 was up 25.9% higher.
CEO outlook: “As we head into 2023, we are continuing to take a more conservative approach to growth. We anticipate growing capacity roughly four percent, with much of that happening in the fourth quarter. This slow and concerted growth profile should drive irregular operations costs out of the business and prioritize operational reliability, helping to deliver an estimated $7 in earnings per share during 2023.”
Shares of Allegiant Travel (ALGT) jumped 18.56% and trade back over $100 for the first time since last September.
Read the Allegiant Travel Company earnings call transcript.
Allegiant Travel soars to 5-month high after earnings smasher
- Advertisment - 