Business
ALLEGIANT TRAVEL COMPANY FOURTH QUARTER AND FULL-YEAR 2022 FINANCIAL RESULTS
Fourth quarter 2022 GAAP diluted earnings per share of $2.87 Fourth quarter 2022 diluted earnings per share, excluding recognition bonus and Sunseeker special
About this update from Allegiant Travel Company
[{"type":"text","content":"Fourth quarter 2022 GAAP diluted earnings per share of $2.87\nFourth quarter 2022 diluted earnings per share, excluding recognition bonus and Sunseeker special charges, of $3.17(1)(2)(3)\nFull-year 2022 GAAP diluted earnings per share of $0.14\nFull-year 2022 diluted earnings per share, excluding recognition bonus and Sunseeker special charges, of $3.13(1)(2)(3)\nLAS VEGAS, Feb. 1, 2023 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the fourth quarter and full-year 2022, as well as comparisons to prior years:\n\n \n \n \n \n \n \n\n \nConsolidated\nThree Months Ended December 31,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2022\n2021\n2019\n YoY\n Yo3Y\nTotal operating expense\n522.4\n463.6\n368.4\n12.7\n41.8\nOperating income\n89.2\n33.3\n92.7\n167.6\n(3.7)\nIncome before income taxes\n65.9\n15.1\n78.6\n334.7\n(16.3)\nNet income\n52.5\n10.7\n60.5\n390.3\n(13.3)\nDiluted earnings per share\n2.87\n0.59\n3.72\n386.4\n(22.8)\n \nTwelve Months Ended December 31,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2022\n2021\n2019\nYoY\nYo3Y\nTotal operating revenue\n$ 2,301.8\n$ 1,707.9\n$ 1,841.0\n34.8 %\n25.0 %\nTotal operating expense\n2,210.2\n1,444.8\n1,477.0\n53.0\n49.6\nOperating income\n91.6\n263.1\n364.0\n(65.2)\n(74.8)\nIncome before income taxes\n5.0\n196.6\n301.2\n(97.5)\n(98.4)\nNet income\n2.5\n151.9\n232.1\n(98.4)\n(98.9)\nDiluted earnings per share\n0.14\n8.68\n14.26\n(98.4)\n(99.0)\nSunseeker special charges\n34.0\n—\n—\nNM\nNM\nDiluted earnings per share excluding Sunseeker special charges (2) (3)\n$ 1.65\n$ 8.68\n$ 14.26\n(81.0)\n(88.4)\n(1) \nRecognition bonus awarded despite not meeting internal profit-sharing targets\n(2) \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 (3) \nAdjusted to exclude estimated loss from property damage to Sunseeker Resort related to Hurricane Ian and two subsequent insurance events that occurred during the quarter, offset by insurance recoveries recorded to date. The amount of the losses will continue to be offset in future periods by amounts to be recovered under the company's insurance policies. In 2023, we expect to receive insurance proceeds approximating t...