Streetbeat News

ALK

Alaska Air Group, Inc.

https://www.alaskaair.com

Industry

Airlines, Airports & Air Services

Alaska Air Group, Inc., through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc. was founded in 1932 and is based in Seattle, Washington.

Open

52.93

Mkt cap

6.8B

Volume

1.8M

High

54.00

P/E Ratio

21.00

52-wk high

54.00

Low

52.93

Div yield

N/A

52-wk low

32.00

Alaska Air Group, Inc (NYSE:ALK) reported Q3 adjusted EPS of $1.83, down from $2.53 a year ago and missing the consensus of $1.86. The company also reported sales of $2.84 billion, slightly missing the consensus of $2.87 billion. The company has cut its annual profit and revenue outlook, expecting EPS of $4.25-$4.75, down from the prior outlook of $5.50-$7.50. ALK shares are down 1.68% premarket.

Portfolio Pulse from Vandana Singh

October 19, 2023 | 1:04 pm

US stocks are set for a mixed opening due to a blend of earnings reports and increasing economic uncertainty. Tesla's underwhelming Q3 results are pressuring sentiment, offset by positive performances from companies like Netflix. A fresh wave of earnings reports, mainly from regional banks, is expected. Traders are also watching key economic data and speeches from Federal Reserve officials. Bond yields remain high and crude oil prices have pulled back. The S&P 500 is expected to recover off the 4,200 support level.

Portfolio Pulse from Shanthi Rexaline

October 19, 2023 | 11:03 am

Alaska Air has lowered its FY23 EPS outlook to $4.25 - $4.75 from the previous $5.50 to $7.50, which is below the $5.24 estimate. The company expects Q4 capacity to increase by 11% to 14% and total revenue to rise by 1% to 4% compared to 2022. The cost per ASM excluding fuel and special items is expected to decrease by 3% to 5%. The full year expectation for capacity is an increase of 12% to 13%, total revenue increase of 7% to 8%, and a decrease in cost per ASM excluding fuel and special items by 1% to 2%.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:05 am

Alaska Air Group reported Q3 earnings of $1.83 per share, missing the analyst consensus estimate of $1.86 by 1.61%. This is a 27.67% decrease from the same period last year. The company also reported quarterly sales of $2.84 billion, missing the analyst consensus estimate of $2.87 billion by 1.08%. This is a 0.39% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 10:02 am

Alaska Air Group, Inc. (NYSE:ALK) is expected to report lower Q3 earnings at $1.86 per share, down from $2.53 per share a year ago. The company's revenue might be $2.87 billion, compared to $2.82 billion in the year-ago period. The company's shares fell 5.2% to close at $32.66 on Wednesday. Several analysts have recently lowered their price targets for the company.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 6:18 am

Alaska Air Gr (NYSE:ALK) is set to release its latest quarterly earnings report on October 19, 2023. Analysts estimate an earnings per share (EPS) of $1.86. The company's past performance shows a mixed impact on the share price post-earnings announcement. The company's shares were trading at $34.45 as of October 17, with a 52-week return of -17.33%.

Portfolio Pulse from Benzinga Insights

October 18, 2023 | 3:01 pm

The third-quarter reporting season is starting with high-profile names from the financial and tech sectors. S&P 500 earnings are expected to increase for the first time in a year, with a blended year-over-year growth estimated at 0.4%. Major banks and financial services companies, transportation companies, and tech companies are set to report their earnings this week. Tesla's report is the most awaited, with concerns about margin erosion due to its downward price adjustments. The SPDR S&P 500 ETF Trust ended Friday’s session down 0.50% at $431.50.

Portfolio Pulse from Shanthi Rexaline

October 16, 2023 | 7:11 am

Susquehanna analyst Christopher Danely maintains a positive outlook on Alaska Air Gr (NYSE:ALK), but has lowered the price target from $58 to $41.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 6:44 pm

Senior Democratic Senator Durbin has asked U.S. airlines to respond to service complaints and high fees. The airlines potentially involved include American Airlines (AAL), Alaska Air Group (ALK), Boeing (BA), Delta Air Lines (DAL), JetBlue Airways (JBLU), Southwest Airlines (LUV), Spirit Airlines (SAVE), and United Airlines (UAL).

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 5:22 pm

Raymond James analyst Savanthi Syth has maintained a 'Strong Buy' rating on Alaska Air Gr (NYSE:ALK), but lowered the price target from $75 to $58.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:05 pm

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