ALGT Stock Recent News

Allegiant Travel's (ALGT) proactive measures to expand its fleet are praiseworthy. However, elevated labor and fuel costs are hurting the company's prospects.

Allegiant's (ALGT) load factor for July 2024 came in at 87.5%.

LAS VEGAS , Aug. 20, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for July 2024. Scheduled Service – Year Over Year Comparison July 2024 July 2023 Change Passengers 1,897,963 1,934,464 (1.9 %) Revenue passenger miles (000) 1,683,321 1,711,901 (1.7 %) Available seat miles (000) 1,923,205 1,877,266 2.4 % Load factor 87.5 % 91.2 %  (3.7pts) Departures 12,580 12,252 2.7 % Average stage length (miles) 870 867 0.3 %   Total System* - Year Over Year Comparison July 2024 July 2023 Change Passengers 1,908,813 1,943,900 (1.8 %) Available seat miles (000) 1,968,720 1,907,384 3.2 % Departures 12,912 12,459 3.6 % Average stage length (miles) 868 866 0.2 % *Total system includes scheduled service and fixed fee contract.

Allegiant Air stock is undervalued, down -55% YTD and trading at a 12-year low, with potential for significant growth and profitability. Q2 results show operating improvements, cost stabilization, and revenue growth potential, despite ongoing challenges in the industry. ALGT's balance sheet provides a substantial margin of safety, with strong asset value, manageable debt, and potential acquisition interest from competitors.

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

Allegiant Rewards Visa® Is Top Ranked For Sixth Consecutive Year LAS VEGAS , Aug. 7, 2024 /PRNewswire/ -- Allegiant (NASDAQ: ALGT) travelers have spoken, and their customer satisfaction and loyalty has propelled the airline to new heights once again. The premier airline for leisure travel, connecting small to medium-sized cities to top vacation destinations, has been named as the number one Best Airline Credit Card and Best Frequent Flyer program in USA TODAY's 10Best 2024 Readers' Choice Awards.

Allegiant Travel Company (NASDAQ:ALGT ) Q2 2024 Earnings Conference Call July 31, 2024 4:30 PM ET Company Participants Sherry Wilson – Managing Director-Investor Relations Maury Gallagher – Executive Chairman and Chief Executive Officer Greg Anderson – President and Incoming Chief Executive Officer Scott DeAngelo – Executive Vice President and Chief Marketing Officer Drew Wells – Senior Vice President and Chief Revenue Officer Robert Neal – Senior Vice President and Chief Financial Officer Micah Richins – President-Sunseeker Resorts Conference Call Participants Shannon Doherty – Deutsche Bank Katherine Kallergis – Morgan Stanley Scott Group – Wolfe Research Savi Syth – Raymond James Conor Cunningham – Melius Research Duane Pfennigwerth – Evercore Dan McKenzie – Seaport Global Andrew Didora – Bank of America Operator Thank you for standing by. My name is Amy, and I will be your conference operator for today.

The headline numbers for Allegiant Travel (ALGT) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Allegiant Travel (ALGT) came out with quarterly earnings of $1.77 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $4.35 per share a year ago.

Second quarter 2024 GAAP diluted earnings per share of $0.75 Second quarter  2024 diluted earnings per share, excluding special charges, of $1.77 (1)(3) Second quarter  2024 airline only diluted earnings per share, excluding special charges, of $2.24 (1)(3) ANNOUNCED STRATEGIC REVIEW OF SUNSEEKER RESORT LAS VEGAS , July 31, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the second quarter 2024, as well as comparisons to the prior year: Consolidated Three Months Ended June 30, Percent Change (unaudited) (in millions, except per share amounts) 2024 2023 YoY Total operating revenue $                   666.3 $                   683.8 (2.6) % Total operating expense 631.4 550.4 14.7 % Operating income 34.9 133.4 (73.8) % Income before income taxes 18.0 116.3 (84.5) % Net income 13.7 88.5 (84.5) % Diluted earnings per share 0.75 4.80 (84.4) % Sunseeker special charges, net of recoveri