ALLEGIANT TRAVEL COMPANY SECOND QUARTER FINANCIAL RESULTS

About this update from Allegiant Travel Company

[{"type":"text","content":"Second quarter 2022 GAAP diluted earnings per share of $0.24\nSecond quarter 2022 diluted earnings per share, excluding recognition bonus(1) of $0.62(1)(2)\nLAS VEGAS, August 3, 2022 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the second quarter 2022, as well as comparisons to prior years:\n\n \n \n \n \n \n \n\n \nConsolidated\nThree Months Ended June 30,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2022\n2021\n2019\nYoY\nYo3Y\nTotal operating revenue\n$ 629.8\n$ 472.4\n$ 491.8\n33.3 %\n28.1 %\nTotal operating expense\n603.7\n333.6\n383.7\n81.0\n57.4\nOperating income\n26.1\n138.9\n108.1\n(81.2)\n(75.8)\nIncome before income taxes\n5.8\n122.6\n91.8\n(95.2)\n(93.6)\nNet income\n4.4\n95.0\n70.5\n(95.4)\n(93.8)\nDiluted earnings per share\n$ 0.24\n$ 5.49\n$ 4.33\n(95.6)\n(94.5)\nSix Months Ended June 30,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2022\n2021\n2019\nYoY\nYo3Y\nTotal operating revenue\n$ 1,130.0\n$ 751.6\n$ 943.4\n50.3 %\n19.8 %\nTotal operating expense\n1,096.6\n588.1\n744.2\n86.5\n47.4\nOperating income\n33.4\n163.5\n199.2\n(79.6)\n(83.3)\nIncome (loss) before income taxes\n(4.7)\n131.2\n165.7\n(103.6)\n(102.9)\nNet income (loss)\n(3.5)\n101.9\n127.7\n(103.5)\n(102.8)\nDiluted earnings (loss) per share\n$ (0.20)\n$ 6.04\n$ 7.84\n(103.3)\n(102.6)\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\n\"Demand surged in the second quarter resulting in the highest revenue-generating quarter in company history,\" stated John Redmond, CEO of Allegiant Travel Company. \"Total operating revenue was up over 28 percent as compared with 2019. We saw impressive increases in TRASM of over 15 percent, year over three-year, particularly considering scheduled capacity was up over 13 percent. Earnings per share, adjusted to exclude the impact from the 2022 recognition bonus, was $0.62, pressured by lower productivity levels due to heightened fuel prices and a challenging operating environment.\n\"As we head into the third quarter, we continue to focus on operational integrity, ensuring safe and reliable travel for our customers. Our operations and planning t...

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