Earnings Review and Free Research Report: Allegiant Travel Reported Better Than Expected Earnings Results

Research Desk Line-up: GOL Linhas Aereas Inteligentes Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 21, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Allegiant Travel Co. (NASDAQ: ALGT) (“Allegiant”), which can be viewed by registering athttp://protraderdaily.com/optin/?symbol=ALGT, following the Company’s posting of its financial results on October 25, 2017, for the third quarter of the fiscal year 2017. The airline Company’s total operating revenues increased 4.6% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the Regional Airlines industry. Pro-TD has currently selected GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) for due-diligence and potential coverage as the Company announced on November 08, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on GOL Linhas Aereas Inteligentes when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ALGT; also brushing on GOL. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=ALGT

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Earnings Reviewed

For the three months ended September 30, 2017, Allegiant’s total operating revenues increased 4.6% to $348.77 million from $333.48 million in Q3 FY16. The total operating revenue numbers were below analysts’ expectations of $350.1 million.

During Q3 FY17, the Company’s scheduled service revenues increased 3.2% to $183.06 million from $177.36 million in the same period of last year. For the reported quarter, the Company’s total ancillary revenues increased 3.3% to $143.17 million from $138.56 million in the third quarter of 2016. During Q3 FY17, the Company’s fixed fee contract revenues increased 28.8% to $11.83 million from $9.18 million in Q3 FY16.

During Q3 FY17, Allegiant’s revenue passenger miles (RPMs) increased 1% to 2.67 billion from 2.65 billion in the comparable period of last year. For the reported quarter, the Company’s available seat miles (ASMs) increased 3.2% to 3.22 billion from 3.12 billion in Q3 FY16.

During Q3 FY17, the Company’s load factor was 83% compared to 84.7% in the corresponding period of last year. For the reported quarter, the Company’s operating expenses per ASM (CASM) increased 15.6% to $0.09 from $0.08 in Q3 FY16. For the reported quarter, the Company’s operating CASM, excluding fuel, increased 16.7% to $0.07 from $0.06 in Q3 FY16.

For the reported quarter, Allegiant’s salary and benefits expenses increased 20.9% to $88.79 million from $73.42 million in Q3 FY16. During Q3 FY17, the Company’s D&A expenses increased 23.2% to $31.89 million from $25.88 million in the same period of last year. For the reported quarter, the Company’s sales and marketing expenses increased 145.7% to $13.88 million from $5.65 million in Q3 FY16.

During Q3 FY17, Allegiant’s operating income decreased 44.1% to $42.92 million from $76.84 million in the comparable period of last year. For the reported quarter, operating margin increased 1,070 basis points to 12.3% of revenue from 23% of revenue in Q3 FY16.

For the reported quarter, Allegiant’s net income decreased 51% to $22.29 million from $45.45 million in Q3 FY16. During Q3 FY17, the Company’s diluted earnings per share (EPS) decreased 49.5% to $1.39 from $2.75 in the corresponding period of last year. The diluted EPS surpassed analysts’ expectations of $1.37.

Balance Sheet

As on September 30, 2017, Allegiant’s cash and cash equivalents increased 14.4% to $74.0 million from $64.7 million as on December 31, 2016. For the reported quarter, the Company’s total debt increased 25.2% to $1.01 billion from $808.2 million in Q4 FY16.

During FY17, the Company’s YTD cash provided by operating activities decreased 3.8% to $296.4 million from $308.1 million in FY16.

During FY17, the Company’s YTD return on capital employed (ROCE) ratio was 14.7% compared to 24.8% in FY16.

During Q3 FY17, the Company’s Board of Directors approved a more aggressive retirement plan for MD-80s and plans to retire its last MD by the end of 2018.

Outlook

For FY17, Allegiant expects ASM growth to be in the range of 9%-10%, and CASM, excluding fuel, growth to be in the band of 11%-12%.

Stock Performance

On Monday, November 20, 2017, the stock closed the trading session at $137.55, slightly down 0.07% from its previous closing price of $137.65. A total volume of 86.96 thousand shares have exchanged hands. Allegiant Travel’s stock price surged 16.27% in the last three months. The stock is trading at a PE ratio of 14.63 and has a dividend yield of 2.04%. At Monday’s closing price, the stock’s net capitalization stands at $2.21 billion.

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