Alaska Air Posts $4.31B in Q3 Revenue
ALK is trading near its 52-week low of $33.03 (3.5% above the low) on elevated volume (3.1× avg).
Summary
Alaska Air reported third-quarter revenue of $4.31 billion, but the quarter closed with a $147 million loss, or $1.32 a share. The top line lands after a rough setup: on September 30 the CEO said Q3 results would come in below the midpoint of guidance, citing a fuel spike, and Q2 had already produced a $76 million net loss as fuel costs jumped 85%. The fuel hit is what drove the guidance cut, and it is still weighing on the outlook, with the airline forecasting a bigger-than-expected fourth-quarter loss on soaring fuel costs. Shares sit near the 52-week low of $33.03, so the market is already braced for a weak quarter.
At the time of this announcement, ALK was trading at $34.20 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $33.03 to $60.63. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.