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ALLEGIANT TRAVEL COMPANY FIRST QUARTER 2023 FINANCIAL RESULTS
First quarter 2023 GAAP diluted earnings per share of $3.09 First quarter 2023 diluted earnings per share, excluding Sunseeker special charges of $3.04(1)(4)
About this update from Allegiant Travel Company
[{"type":"text","content":"First quarter 2023 GAAP diluted earnings per share of $3.09\nFirst quarter 2023 diluted earnings per share, excluding Sunseeker special charges of $3.04(1)(4)\nFirst quarter 2023 airline only diluted earnings per share of $3.30(1)\nLAS VEGAS, May 3, 2023 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the first quarter 2023, as well as comparisons to the prior year:\n\n \n \n \n \n \n \n\n \nConsolidated\nThree Months Ended March 31,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2023\n2022\nYoY\nTotal operating revenue\n$ 649.7\n$ 500.1\n29.9 %\nTotal operating expense\n554.9\n492.9\n12.6 %\nOperating income\n94.8\n7.2\n1,216.7 %\nIncome (loss) before income taxes\n74.4\n(10.6)\n801.9 %\nNet income (loss)\n56.1\n(7.9)\n810.1 %\nDiluted earnings (loss) per share\n3.09\n(0.44)\n802.3 %\nSunseeker special charges, net of recovery\n(1.6)\n—\nN/A\nDiluted earnings per share excluding recovery of Sunseeker special charges(1)(4)\n3.04\n(0.44)\n790.9 %\n \nAirline only\nThree Months Ended March 31,\nPercent Change(2)\n(unaudited) (in millions, except per share amounts)\n2023\n2022\nYoY\nAirline operating revenue (1)\n$ 649.7\n$ 500.1\n29.9 %\nAirline operating expense (1)\n552.1\n489.9\n12.7 %\nAirline operating income (1)\n97.6\n10.2\n856.9 %\nAirline income (loss) before income taxes (1)\n78.9\n(5.6)\n1,508.9 %\nAirline net income (loss) (1)(3)\n59.9\n(4.3)\n1,493.0 %\nAirline operating margin\n15.0 %\n2.0 %\n13.0 %\nAirline diluted earnings (loss) per share(1)\n3.30\n(0.24)\n1,475.0 %\n(1) \nDenotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures\n(2) \nExcept Airline Operating Margin, which is percentage point change\n(3) \nUtilizing an effective tax rate of 24.0% for 2023 and 23.6% for 2022\n(4) \nAdjusted to exclude insurance recoveries from property damage to Sunseeker Resort\n\"I am happy to report we delivered strong financial results during the first quarter with diluted earnings per share of $3.09,\" stated John Redmond, CEO of Allegiant Travel Company. \"The team worked tirelessly to ensure operational integrity, and our controllable completion of 99.9 percent for the quarter is a testament to their efforts. Running a safe, reliable o...