2024-04-18 16:58:09 ET
Alaska Air Group, Inc. (ALK)
Q1 2024 Earnings Conference Call
April 18, 2024 11:30 AM ET
Company Participants
Ryan St. John - VP, Finance, Planning & Investor Relations
Ben Minicucci - President & CEO
Andrew Harrison - Chief Revenue Officer & Chief Commercial Officer
Shane Tackett - CFO
Nat Pieper - SVP, Fleet, Finance & Alliances & Treasurer
Diana Birkett Rakow - SVP, Public Affairs and Sustainability, Alaska Airlines
Conference Call Participants
Andrew Didora - BofA Global Research
Helane Becker - TD Cowen
Ravi Shanker - Morgan Stanley
Duane Pfennigwerth - Evercore ISI
Jamie Baker - JPMorgan
Scott Group - Wolfe Research
Stephen Trent - Citigroup
Conor Cunningham - Melius Research
Mike Linenberg - Deutsche Bank
Dan McKenzie - Seaport Global
Christopher Stathoulopoulos - Susquehanna Financial Group
Presentation
Operator
Good morning, ladies and gentlemen, and welcome to the Alaska Air Group 2024 First Quarter Earnings Call. [Operator Instructions] Today's call is being recorded and will be accessible for future playback at alaskaair.com. After our speakers’ remarks, we will conduct a question-and-answer session for analysts.
I would now like to turn the call over to Alaska Air Group’s Vice President of Finance, Planning and Investor Relations, Ryan St. John.
Ryan St. John
Thank you, operator, and good morning. Thank you for joining us for our first quarter 2024 earnings call. This morning, we issued our earnings release along with several accompanying slides detailing our results, which are available at investor.alaskaair.com.
On today's call, you'll hear updates from Ben, Andrew and Shane. Several others of our management team are also on the line to answer your questions during the Q&A portion of the call.
This morning, Air Group reported a first quarter GAAP net loss of $132 million. Excluding special items and mark-to-market fuel hedge adjustments, Air Group reported an adjusted net loss of $116 million. As a reminder, our comments today will include forward-looking statements about future performance, which may differ materially from our actual results.
Information on risk factors that could affect our business can be found within our SEC filings. We will also refer to certain non-GAAP financial measures such as adjusted earnings and unit costs, excluding fuel. And as usual, we have provided a reconciliation between the most directly comparable GAAP and non-GAAP measures in today's earnings release....
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Alaska Air Group, Inc. (ALK) Q1 2024 Earnings Call Transcript