Why Alaska Air Shares Are Tanking Today
Portfolio Pulse from Akanksha Bakshi
Alaska Air Group, Inc (NYSE:ALK) shares are down after the company's Q3 outlook anticipates 0%-3% topline growth. Despite beating Q2 consensus with a 7% YoY operating revenue growth and an adjusted EPS of $3.00, the company's shares are trading lower by 12%. The company also reported an increase in operating expenses and a contraction in load factor. ALK repurchased shares worth $39 million in Q2 and expects to repurchase at least $100 million in FY23.
July 25, 2023 | 3:43 pm
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Alaska Air Group's shares are down due to a lackluster Q3 outlook despite beating Q2 consensus. The company also reported increased operating expenses and a contraction in load factor.
The company's shares are down due to a lackluster Q3 outlook, which is a key factor for investors. Despite beating Q2 consensus, the company also reported increased operating expenses and a contraction in load factor, which could be contributing to the negative sentiment. Additionally, the company's share repurchase could be seen as a positive signal, but it seems to be overshadowed by the negative outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100