ALK
Alaska Air Group, Inc.52.42
+0.53+1.02%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Demand strong, risks detailed
Q&A largely reaffirmed prepared remarks on 2026's $3.50-$6.50 EPS guide and $10 by 2027 path, but surfaced strong demand signals like 20% YoY Q1 managed corporate bookings from volumes, tech sectors, and global penetration. Management detailed downside risks—macro setbacks or West Coast fuel spikes ($0.10/gal equals $0.75 EPS hit)—while stressing low integration risk post-April PSS cutover and IT resiliency fixes via configuration tweaks. Costs face Q1/Q2 headwinds lapping labor/real estate but trajectory improves; main cabin trends brighten. Corporate demand accelerates. Investors track macro recovery and fuel stability for earnings harvest.
Key Stats
Market Cap
6.08BP/E (TTM)
43.32Basic EPS (TTM)
1.21Dividend Yield
0%Recent Filings
10-K
FY2025 results
Alaska Air Group posted FY2025 pretax income of $146 million on $14.2 billion revenue, up 3% pro forma from 2024's $13.8 billion, driven by 3% passenger revenue growth from 1% traffic and 2% yield gains amid Hawaiian integration. Q4 momentum shone through Hawaiian's $170 million pretax loss improvement versus pro forma 2024, fueled by network optimization and Hawai'i demand, while Alaska's pretax profit dipped to $526 million from $744 million on labor cost pressures. Yet margins compressed with CASMex rising 4.7% to 11.42¢ on 10% wages surge. Q4 accelerated buybacks totaling $570 million. Liquidity holds firm at $3.0 billion with 103 unencumbered aircraft. Integration risks loom large.
8-K
Q4 adj EPS $0.43 beats
Alaska Air Group reported Q4 2025 adjusted EPS of $0.43, beating expectations with RASM up 0.6% and CASMex up just 1.3% despite headwinds. Integration advanced: single operating certificate secured for Alaska and Hawaiian Airlines. Momentum builds. Q1 EPS flat year-over-year; FY2026 targets $3.50-$6.50 amid macro risks.
8-K
Largest fleet order ever
Alaska Airlines locked in its biggest-ever fleet order on December 31, 2025, finalizing purchases for 53 incremental 737-10s (deliveries 2032-2035), exercising 52 737-10 options (2028-2032), adding 35 737-10 options, and exercising five 787 options (2031-2032). This secures slots through 2035, fueling Alaska Accelerate growth to 550+ aircraft by 2035 while replacing aging 737s. Fleet stays young. Risks include supply chain delays.
8-K
EPS guide cut to $0.10
Alaska Air Group slashed Q4 2025 adjusted EPS guidance to ~$0.10 from at least $0.40, hammered by $0.55-0.60 in transitory hits: IT outage ($0.25), government shutdown cancellations (~600 flights, $0.15), higher fuel ($0.15), and tax rate spike. Capacity rises ~2%, RASM ~1%, CASMex ~3% versus pro forma 2024. Integration advances steadily. Headwinds crushed momentum.
10-Q
Q3 FY2025 results
Alaska Air Group posted Q3 revenue of $3.8B, up 23% y/y yet flat pro forma, with passenger revenue steady on higher Pacific volumes from Hawaiian integration offsetting softer domestic traffic. Operating income fell to $148M from $341M y/y (derived), hit by merger costs and a $20M IT outage, while diluted EPS dropped to $0.62 from $1.84, confirmed against 117.5M shares. Hawaiian narrowed its segment pretax loss to $42M, fueled by Hawai'i demand; liquidity holds at $2.3B cash and securities with $850M revolver available, total debt $5.0B at 4.7% effective rate. Closed Hawaiian acquisition Sep 2024 for $977M cash, recognizing $780M goodwill and $799M intangibles. Integration costs persist. Hawaiian loses on freighter synergies.
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