Allegiant (ALGT) November Traffic Increases From 2022 Levels
Allegiant Travel Company ALGT recently reported an impressive year-over-year increase in traffic and capacity for November 2023.
Scheduled traffic (measured in revenue passenger miles) rose 7.7% from November 2022 levels. Capacity (measured in available seat miles) for scheduled service grew 10.5% from the November 2022 reading. The load factor (percentage of seats filled by passengers) in November 2023 reached 83.8%.
Total departures (scheduled services) jumped 11.3% in November 2023 from a year ago. However, its average stage length (miles) fell 0.7%. For the total system (including scheduled service and fixed fee contract), Allegiant carried 9.2% more passengers in November 2023 from the year-ago levels. System-wide capacity expanded 9.3% in November on a year-over-year basis.
Fuel price per gallon in November is estimated to have been $3.24. For 2023, the guidance for average fuel cost per gallon is $3.12, higher than the prior view of $2.90.
Zacks Rank & Key Picks
ALGT currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the Zacks Transportation sector are Air Canada ACDVF and Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation WAB.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May 2024 as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for Air Canada’s 2023 and 2024 earnings has witnessed an increases of 32.6% and 41.3% in the past 60 days, respectively.
Wabtec has an expected earnings growth rate of 22.43% for the current year. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average. Wabtec presently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for WAB’s current-year earnings has improved 4.9% over the past 90 days. Shares of WAB have gained more than 25% year to date.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May 2024 as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for Air Canada’s 2023 and 2024 earnings has witnessed an increase of 32.6% and 41.3% in the past 60 days, respectively.
Wabtec has an expected earnings growth rate of 22.43% for the current year. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average. Wabtec presently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for WAB’s current-year earnings has improved 4.9% over the past 90 days. Shares of WAB have gained more than 25% year to date.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May 2024 as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for Air Canada’s 2023 and 2024 earnings has witnessed an increase of 32.6% and 41.3% in the past 60 days, respectively.
Wabtec has an expected earnings growth rate of 22.43% for the current year. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average. Wabtec presently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for WAB’s current-year earnings has improved 4.9% over the past 90 days. Shares of WAB have gained more than 25% year to date.
Air Canada currently sports a Zacks Rank #1 (Strong Buy). An uptick in passenger traffic is aiding ACDVF. Recently, management announced plans to launch a year-round route between Montreal and Madrid. You can see the complete list of today’s Zacks #1 Rank stocks here.
The service will commence in May 2024 as part of its expanded international summer 2024 flying schedule to cater to increased demand. The Zacks Consensus Estimate for Air Canada’s 2023 and 2024 earnings has witnessed an increase of 32.6% and 41.3% in the past 60 days, respectively.
Wabtec has an expected earnings growth rate of 22.43% for the current year. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average. Wabtec presently carries a Zacks Rank of 2 (Buy).
The Zacks Consensus Estimate for WAB’s current-year earnings has improved 4.9% over the past 90 days. Shares of WAB have gained more than 25% year to date.
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Allegiant Travel Company (ALGT) : Free Stock Analysis Report
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