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Allegiant Travel misses 1Q profit forecasts

LAS VEGAS (AP) _ Allegiant Travel Co. (ALGT) on Tuesday reported first-quarter earnings of $41.6 million.

On a per-share basis, the Las Vegas-based company said it had net income of $2.50.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.58 per share.

The travel services company posted revenue of $375.8 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $375.1 million.

Allegiant Travel shares have declined 1.5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $163.85, a decline of slightly more than 2 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALGT at https://www.zacks.com/ap/ALGT

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Keywords: Allegiant Travel, Earnings Report