Second quarter 2018 Fully Diluted Earnings per Share of $3.10
LAS VEGAS. July 25, 2018 —Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the second quarter 2018, as well as comparisons to the prior year:
Three Months Ended June 30,
Six Months Ended June 30,
Total operating revenue (millions)
Operating income (millions)
Net income (millions)
Diluted earnings per share
"We are proud to announce our 62nd consecutive profitable quarter," stated Maurice J. Gallagher, Jr., chairman and CEO of Allegiant Travel Company. "This is the second consecutive quarter of EPS growth, despite seeing our fuel cost per gallon increase by over 39 percent in the second quarter. This is a wonderful testament to the hard work of our team members as we navigate another busy summer.
"We are continuing our transition to an all-Airbus fleet. We have done an excellent job year-to-date but this summer was the critical period in this transition, including the timely delivery and induction of fifteen Airbus aircraft, and retirement of six MD-80s. Today we are on our schedule as planned, though some delayed deliveries in late May impacted our peak June period, in terms of top line and operations reliability. Looking forward, we should complete our transition at the end of November as scheduled.
"Our CASM-ex fuel results came in nicely. Our improved operational results as well as efficiencies from the Airbus fleet are beginning to pay dividends, and we are pleased with where the cost trend line is headed. Additionally, fuel efficiency continues to improve with the transition, with 76 vs. 72 ASMs per gallon this year compared to the same period last year.
“The Sunseeker resort project continues to move ahead. We are closing in on a financing plan and hope to announce the specifics in the next 60 to 90 days. We continue to be impressed with the many synergies and business alignments between Sunseeker and our air service presence on the west coast of Florida. Our Punta Gorda destination - a 15 minute drive from our Sunseeker location, grew over 30 percent in capacity on a trailing twelve month basis. We are on a pace to carry over 1.5 million passengers in and out of Punta Gorda this year."
The following information was filed by Allegiant Travel Co (ALGT) on Wednesday, July 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Allegiant Travel Co's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Allegiant Travel Co.
Ticker: ALGT CIK: 1362468 Form Type:10-Q Quarterly Report Accession Number: 0001362468-18-000033 Submitted to the SEC: Fri Aug 03 2018 4:54:24 PM EST Accepted by the SEC: Fri Aug 03 2018 Period: Saturday, June 30, 2018 Industry: Air Transportation Scheduled