Alaska Air Q2 Adjusted EPS Rises 20.5%
Alaska Air Group Inc. (NYSE: ALK) announced 11.1 percent increase in profit for the second quarter driven by 4 percent uptick in the operating revenues. Its adjusted earnings grew 20.5 percent and topped the Street analysts' expectations.
Alaska Air Group said that it earned $260 million or $2.10 a share in the second quarter, up from $234 million or $1.79 a share in the previous year quarter. On an adjusted basis too, net income grew 14.4 percent to $263 million from $230 million while earnings advanced to $2.12 a share from $1.76 a share in the prior year quarter. This was $0.03 a share better than the Street expectations of $2.09 a share.
The company's total operating revenues were $1.49 billion, up 4 percent up $1.44 billion in the same quarter last year. This was more or less in line with the analysts' predictions of $1.5 billion.
CEO Brad Tilden commented on the results stating, "This was a great quarter for us. From strong operational and financial performance to a growing customer base, our team delivered." He added, "All of us at Alaska are enthusiastically looking forward to our merger with Virgin America and creating a larger national reach while fortifying our presence along the entire West Coast."
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