Business
Allegiant Travel Company Third Quarter 2020 Financial Results
Third quarter 2020 GAAP fully diluted loss per share of $(1.82) Third quarter 2020 consolidated fully diluted loss per share, excluding COVID related special
About this update from Allegiant Travel Company
[{"type":"text","content":"Third quarter 2020 GAAP fully diluted loss per share of $(1.82)\n Third quarter 2020 consolidated fully diluted loss per share, excluding COVID related special charges and benefit from the CARES Act of $(4.28)(1)(2)\n\n\nLAS VEGAS, Oct. 28, 2020 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the third quarter 2020, as well as comparisons to the prior year:\n\n \n \n \n \n \n \n\n \nConsolidated\nThree Months Ended September 30,\nPercent Change\nNine Months Ended September 30,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2020\n2019\n2020\n2019\nTotal operating revenue\n$\n201.0\n$\n436.5\n(54.0)\n%\n$\n743.5\n$\n1,379.9\n(46.1)\n%\nOperating income (loss)\n(33.1)\n72.1\n(145.9)\n(257.3)\n271.3\n(194.9)\nIncome (loss) before income taxes\n(44.7)\n56.9\n(178.6)\n(321.9)\n222.6\n(244.6)\nNet income (loss)\n(29.1)\n43.9\n(166.3)\n(155.3)\n171.6\n(190.5)\nDiluted earnings (loss) per share\n$\n(1.82)\n$\n2.70\n(167.4)\n$\n(9.75)\n$\n10.54\n(192.5)\nConsolidated - adjusted\nThree Months Ended September 30,\nPercent Change\nNine Months Ended September 30,\nPercent Change\n(unaudited) (in millions, except per share amounts)\n2020\n2019\n2020\n2019\nAdjusted operating income (loss) (1) (2)\n$\n(77.4)\n$\n72.1\n(207.4)\n%\n$\n(128.8)\n$\n271.3\n(147.5)\n%\nAdjusted income (loss) before income taxes(1) (2)\n(89.0)\n56.9\n(256.4)\n(166.8)\n222.6\n(174.9)\nAdjusted net income (loss)(1) (2)\n(68.5)\n43.9\n(256.0)\n(128.4)\n171.6\n(174.8)\nAdjusted diluted earnings (loss) per share (1) (2)\n$\n(4.28)\n$\n2.70\n(258.5)\n$\n(8.07)\n$\n10.54\n(176.6)\n(1) Adjusted to exclude COVID related special charges, the benefit from the CARES Act payroll support program, and the portion of the tax benefit (as applicable) attributable to the CARES Act.\n(2) Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information.\n\"As we continue to navigate through the pandemic we have been encouraged by the modest, yet consistent improvements during the third quarter and into the fourth,\" stated Maurice J. Gallagher, Jr., chairman and CEO of Allegiant Travel Company. \"Consumer confidence towards air travel is improving as seen in our quarterly performance. We completed the quarter beating consensus with a loss per share...