Alaska Air Group Q4 Results Beat Expectations, but Warns of Hit From Boeing

seekingalpha01-25

Shares of Alaska Air Group were trading modestly higher in premarket after beating Q4 profit and revenue expectations."Air Group's 2023 accomplishments were significant," the company's CEO said, after...

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In a filing with the U.S. Securities and Exchange Commission on Thursday, Alaska Air Group (ALK) now expects FY24 earnings to be between $3 and $5 per shares to incorporate the negative impact from the grounding. This compares to the Street consensus of $4.85 per share.Prior to the 737-9 MAX grounding, ALK expected full year capacity to grow 3%-5%, but now anticipates capacity growth to be at or below the lower end of this range.Looking at the most recent quarter, the airline's operating revenue increased to $2.55B from $2.48B year-over-year, beating the consensus estimate by $20M.Revenue per passenger mile, or RPM, increased 10% while load factor declined 2.6 percentage points but remained above 80% at 82.9%.Lastly, Alaska Air Group (ALK) said it agreed to purchase Hawaiian Airlines (HA) for $18 per share in cash. 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