Business
Allegiant Travel Company First Quarter 2020 Financial Results
First quarter 2020 loss per share of $(2.08) First quarter 2020 fully diluted earnings per share, excluding special items and adjusted for tax, of $2.05 (1)
About this update from Allegiant Travel Company
[{"type":"text","content":"First quarter 2020 loss per share of $(2.08)\n First quarter 2020 fully diluted earnings per share, excluding special items and adjusted for tax, of $2.05 (1)\n First quarter 2020 airline only fully diluted earnings per share, adjusted for tax, of $1.89 (1)\n\n\nLAS VEGAS, May 12, 2020 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the first quarter 2020, as well as comparisons to the prior year:\n\n \n \n \n \n \n \n\n \nConsolidated\nThree Months Ended March 31,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2020\n2019\nTotal operating revenue\n$\n409.2\n$\n451.6\n(9.4)\n%\nOperating income (loss)\n(117.8)\n91.1\n(229.3)\nIncome (loss) before income taxes\n(130.7)\n73.9\n(276.9)\nNet income (loss)\n(33.0)\n57.1\n(157.8)\nDiluted earnings (loss) per share\n$\n(2.08)\n$\n3.52\n(159.1)\nConsolidated - adjusted\nThree Months Ended March 31,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2020\n2019\nAdjusted operating income(1)\n$\n55.1\n$\n91.1\n(39.5)\nAdjusted income before income taxes(1)\n42.2\n73.9\n(42.9)\nAdjusted net income(1)\n33.3\n57.1\n(41.7)\nAdjusted diluted earnings per share (1)\n$\n2.05\n$\n3.52\n(41.8)\nAirline only\nThree Months Ended March 31,\nPercent Change\n(unaudited)\n2020\n2019\nAirline operating revenue (millions)(1)\n$\n404.7\n$\n448.3\n(9.7)\n%\nAirline operating income (millions)(1)\n51.1\n98.5\n(48.1)\nAirline operating margin\n12.6\n%\n22.0\n%\n(42.7)\nAirline income before income taxes (millions) (1)\n$\n38.8\n$\n81.5\n(52.4)\nAirline fully diluted earnings per share(1)\n$\n1.89\n$\n3.98\n(52.5)\nAirline CASM ex fuel (cents)(1)\n6.51\n6.40\n1.7\n(1) Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information.\n\"The events that have unfolded over the last eight weeks are truly unprecedented,\" stated Maurice J. Gallagher, Jr., chairman and CEO of Allegiant Travel Company. \"We began to see the first signs of demand weakness at the end of February, with a steep downward demand trajectory by mid-March. Despite March revenues down nearly 40 percent year over year, we finished the quarter with airline-only EPS of $1.89 per share and an airline-only operating margin of 12.6 percent. These numbers are a true testament to the flexibilit...