- Allegiant Travel ( NASDAQ: ALGT ) said Monday it expects to report Q2 EPS , excluding 2022 employee recognition bonus, of ~$0.62 vs. well below consensus estimate of $1.28.
- ALGT reported prelim. Q2 revenue of ~$629M, up 28% from 2019 and 33.1% Y/Y. Consensus estimate is $632.39M.
- Prelim. Q2 load factor is 87.3% vs. 70.8% in Q2 2021.
- ALGT also reported prelim. June passenger traffic at 1.7M, up 6.9% Y/Y, and load factor of 90%.
- "Demand strength persisted throughout the quarter resulting in TRASM increases of over 15% vs. 2019 on capacity growth in excess of 13% vs. 2019. June was particularly strong with TRASM up ~20% vs. 2019. July TRASM is currently trending in-line with June yielding similar percentage increases vs. 2019," said Drew Wells, SVP, revenue, ALGT.
- "... we expect July's load factor to come in slightly higher than June's result," he added.
- "Q2 CASM, excluding fuel and 2022 employee recognition bonus, was up 14% vs. 2019," said CFO Gregory Anderson.
- "Our fuel cost per gallon was $4.32, slightly above our previous guidance. This increase in fuel price, coupled with a slight reduction in fuel efficiency from Q1, resulted in ~$9M in incremental fuel expense for Q2," he added.
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Allegiant Travel expects to report Q2 earnings below estimates