Allegiant Travel Earnings: Profit and Revenue Flies Higher

Allegiant Travel Company (NASDAQ:ALGT) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation.

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Allegiant Travel Company Earnings Cheat Sheet

Results: Net income increased 36.91% to $14.8 million (76 cents per diluted share) in the quarter versus a net gain of $10.81 million in the year-earlier quarter.

Revenue: Rose 14.88% to $222.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Allegiant Travel Company reported adjusted net income of 76 cents per share. By that measure, the company beat the mean analyst estimate of $0.7. It missed the average revenue estimate of $224.66 million.

Quoting Management: “We are very proud to report our 40th consecutive profitable quarter,” stated Maurice J. Gallagher, Jr., Chairman and CEO of Allegiant Travel Company.  “40 consecutive profitable quarters is an outstanding achievement in this industry and we could not do it without the great efforts and contributions of our Team Members…

…In 2012, we recorded the highest system fuel cost per gallon we have ever paid for a full year.  In spite of that, we were able to grow full year earnings per share over 58 percent to the highest ever.”

Key Stats:

Revenue increased 2.74% from $216.86 million in the previous quarter. Net income decreased 12.68% from $16.95 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.68 to a profit $1.63. For the current year, the average estimate has moved down from a profit of $4.15 to a profit of $4 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)