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Alaska Air Group Inc. ALK posted mixed second-quarter results after Tuesday’s closing bell, missing the analyst revenue estimate for the quarter. Here’s a look at the details inside the report.
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Alaska Air Q2 Details
Alaska Air Group reported quarterly losses of 92 cents per share, which beat the Street estimate for losses of 99 cents, according to Benzinga Pro data.
Quarterly revenue came in at $4.07 billion, which missed the consensus estimate of $4.09 billion.
The air carrier reported fuel cost of $4.43 per gallon in the second quarter, up 85% year over year.
"Our second quarter results were defined by a fuel spike outside our control — but underneath it, this company is executing better than ever," said CEO Ben Minicucci.
"We led the industry in on-time performance for the first half of the year, completed the last major milestone of our Hawaiian integration, launched service to Europe and returned to profitability in June,” Minicucci added.
Looking ahead, Alaska Air Group expects third-quarter EPS between zero cents and $1, versus the $1.38 analyst estimate.
ALK Stock Price Activity: According to data from Benzinga Pro, Alaska Air shares were down 2.35% to $44.39 in Tuesday’s extended trading.
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This article Alaska Air Stock Slips on Q2 Results — Fuel Costs Spike 85% originally appeared on Benzinga.com.
