Allegiant Travel Company · NASDAQ:ALGT
Allegiant Travel — Q3 2024 Earnings Presentation
10 slides from Allegiant Travel's earnings presentation, Oct 30, 2024
Slide 1: Earnings Call
Earnings Call
Slide 2: Forward looking statements
Forward looking statements This presentation as well as oral statements made by officers or directors of Allegiant Travel Company, its advisors and affiliates (collectively or separately, the "Company“) will contain forward-looking statements that are only predictions and involve risks and uncertain
Slide 3: Addressing headwinds to deliver industry-leading results
Addressing headwinds to deliver industry-leading results Aircraft utilization ~20% below 2019 levels Boeing delivery delays - first deliveries Existing functionality loss and delayed during July originally expected in 2023 implementation of added functionality • Pilot staffing levels have stabilized
Slide 4: Line of sight to sustained peak utilization increases
Line of sight to sustained peak utilization increases Aircraft Utilization as % of 2019 Block-Hours per Aircraft-Day 2019 utilization 100% 75% • Pilot staffing levels have stabilized % of 2019 Utilization • Focused on restoring peak period utilization 50% • December is scheduled to be 6% below 2019
Slide 5: Boeing 737-8200 Airbus A320
New Priority Dedicated Extra Complimentary Access Overhead Bin Legroom Snack Space Boeing 737-8200 extra 21 Extra Legroom 31 190 Pax Airbus A320 extra 36 Extra Legroom 12 180 Pax 5
Slide 6: 737 MAX update
737 MAX update ASMs per Gallon* Seats per Departure 26% +10 increase added seats 108 190 180 • Received first B737-8200 in September ’24 86 • Entered revenue service in mid-October ’24 • Higher revenue potential with increased gauge • Higher margin potential with improved fuel efficiency on an ASMs
Slide 7: Fourth quarter impact from hurricanes
Fourth quarter impact from hurricanes Hurricane Impact 4Q24 3.5% - 4.0% • Approximately 37% of our pre-hurricane $2.25 anticipated seats were in markets impacted by the storms 1.5% $1.00 • We expect 25% of network seats to continue to be Before Before hurricane Now hurricane Now impacted Before hurr
Slide 8: Balance sheet and leverage update
Balance sheet and leverage update Net Leverage Outlook (Net Debt/Adj. EBITDA) 2022 – 2026E Deleverage starting 4Q24 3Q24 Highlights 3.7x 4.1x • Total liquidity at quarter end was $1.1 billion, including: 3.8x 3Q24 o $805 million in cash and investments TTM o $275 million in undrawn revolver capacity
Slide 9: Airline Outlook Summary
Airline Outlook Summary Fourth Quarter Airline-Only Guidance 4Q24 System ASMs – y/y change ~1.5% Scheduled service ASMs – y/y change ~1.5% Fuel cost per gallon $2.50 Operating margin, excluding special charges 6.0% - 8.0% Airline-only earnings (loss) per share, excluding special charges $0.50 - $1.5
Slide 10: Consolidated & Sunseeker Outlook Summary
Consolidated & Sunseeker Outlook Summary Fourth Quarter Consolidated Guidance 4Q24 Consolidated earnings (loss) per share, excluding special charges $0.00 - $1.00 Full-Year Sunseeker Guidance FY 2024 EBITDA, excluding special charges (1) (2) (millions) $(25) to $(30) Business interruption insurance
Allegiant Travel Company — Q3 2024 Earnings Presentation on 6ix