Allegiant Travel Raises Q1 Adjusted Earnings Guidance; Shares Rise

MT Newswires Live03-17

Allegiant Travel (ALGT) said Tuesday in a filing with the US Securities and Exchange Commission that it now expects its Q1 adjusted earnings per share in the range of $3.25 to $3.75 from $2.50 to $3.50 previously.

Analysts polled by FactSet expect $3.08.

The carrier increased its Q1 fuel cost per gallon outlook to $3 from $2.60 previously, citing ongoing geopolitical factors.

Allegiant Travel said it now expects Q1 system available seat miles to contract about 5.5% year-over-year, compared with its previous expectation of a 5.7% contraction.

The company said it is not updating its full-year outlook at this time due to recent fuel price volatility.

Shares of the company were up about 7% in Tuesday trading.

Price: 80.21, Change: +5.55, Percent Change: +7.43

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