Business
Allegiant Travel Company First Quarter 2021 Financial Results
First quarter 2021 GAAP fully diluted earnings per share of $0.42 First quarter 2021 consolidated fully diluted loss per share, excluding COVID related
About this update from Allegiant Travel Company
[{"type":"text","content":"First quarter 2021 GAAP fully diluted earnings per share of $0.42\n First quarter 2021 consolidated fully diluted loss per share, excluding COVID related special charges and benefit from the payroll support program of $(3.58)(1)(2)\n\n\nLAS VEGAS, May 4, 2021 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the first quarter 2021, as well as comparisons to the prior years:\n\n \n \n \n \n \n \n\n \nConsolidated\nThree Months Ended March 31,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2021\n2020\n2019\nYoY\nYo2Y\nTotal operating revenue\n$\n279.1\n$\n409.2\n$\n451.6\n(31.8)\n(38.2)\nTotal operating expense\n254.5\n527.0\n360.5\n(51.7)\n(29.4)\nOperating income (loss)\n24.6\n(117.8)\n91.1\n120.9\n(73.0)\nIncome (loss) before income taxes\n8.7\n(130.7)\n73.9\n106.6\n(88.3)\nNet income (loss)\n6.9\n(33.0)\n57.1\n120.8\n(88.0)\nDiluted earnings (loss) per share\n$\n0.42\n$\n(2.08)\n$\n3.52\n120.2\n(88.1)\nConsolidated - adjusted\nThree Months Ended March 31,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2021\n2020\n2019\nYoY\nYo2Y\nAdjusted operating income (loss) (1) (2)\n$\n(59.0)\n$\n55.1\n$\n91.1\n(207.1)\n(164.8)\nAdjusted operating expense (1) (2)\n338.1\n360.9\n360.5\n(6.3)\n(6.2)\nAdjusted income (loss) before income taxes (1) (2)\n(74.9)\n42.2\n73.9\n(277.5)\n(201.4)\nAdjusted net income (loss) (1) (2)\n(57.9)\n32.5\n57.1\n(278.2)\n(201.4)\nAdjusted diluted earnings (loss) per share (1) (2)\n$\n(3.58)\n$\n2.05\n$\n3.52\n(274.6)\n(201.7)\n(1) Adjusted excludes COVID related special charges and the net benefit from the Payroll Support Program Extension Agreement (the \"PSP2\")\n(2) Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information\n \n\"The momentum reported last quarter picked up in earnest towards the back half of the first quarter with booking trends showing meaningful improvement,\" stated Maurice J. Gallagher, Jr., chairman and CEO of Allegiant Travel Company. \"We completed the quarter with earnings per share of $0.42 on year over two-year revenue declines of 38.2 percent, continuing the trend of sequential revenue improvement. We were the first domestic carrier to restore capacity to pre-pandemic levels, with first quarter scheduled capaci...