It is a well-documented fact that inflation in the United States has been cooling over the past few months. The favorable inflation readings have made market watchers hopeful of a rate cut soon. Lower interest rates bring down borrowing costs, boosting economic growth. Healthy economic data released recently also bode well.To take advantage of this brightening picture, investors are advised to have broker-favored stocks like AdvanSix (ASIX) , Allegiant Travel Company (ALGT) , CVR Energy (CVI) , Warner Bros. ...

Allegiant Travel Company (ALGT) recently reported disappointing traffic numbers for July 2024. Scheduled traffic (measured in revenue passenger miles) fell 1.7% from the July 2023 levels. Capacity (measured in available seat miles) for scheduled service grew 2.4% year over year. As traffic failed to outpace capacity expansion, the load factor (percentage of seats filled by passengers) in July 2024 declined to 87.5% from 91.2% a year ago.Total departures (scheduled services) improved 2.7% in July 2024 from a ...

LAS VEGAS, Aug. 20, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) today reported preliminary passenger traffic results for July 2024.Scheduled Service – Year Over Year ComparisonJuly 2024 July 2023 Change Passengers 1,897,963 1,934,464 (1.9 %) Revenue passenger miles (000) 1,683,321 1,711,901 (1.7 %) Available seat miles (000) 1,923,205 1,877,266 2.4 % Load factor 87.5 % 91.2 %  (3.7pts) Departures 12,580 12,252 2.7 % Average stage length (miles) 870 867 0.3 %   Total System* - Year Over Year ...

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy.Below are the ratings of the most accurate analysts for three high-y ...

Allegiant Rewards Visa® Is Top Ranked For Sixth Consecutive Year LAS VEGAS, Aug. 7, 2024 /PRNewswire/ -- Allegiant (NASDAQ: ALGT) travelers have spoken, and their customer satisfaction and loyalty has propelled the airline to new heights once again. The premier airline for leisure travel, connecting small to medium-sized cities to top vacation destinations, has been named as the number one Best Airline Credit Card and Best Frequent Flyer program in USA TODAY's 10Best 2024 Readers' Choice Awards.This is the ...

Financial Performance - Operating income for Q2 2024 was $34.9 million, with an operating margin of 5.2%, while total operating revenue decreased by 2.6% to $666.3 million compared to Q2 2023[70]. - Passenger revenue decreased by 7.5% in Q2 2024, primarily due to an 11.0% drop in average scheduled service base fare and a 3.1% decrease in passengers flown[88]. - Total average ancillary fare increased by 5.0% to $75.34 in Q2 2024, driven by growth in seats, bags, and co-brand credit card revenue[70]. - The company recorded a special charge of $20.1 million in Q2 2024, which included a ratification bonus of $10.8 million for flight attendants and $9.3 million for accelerated depreciation due to early aircraft retirements[70]. - Salaries and benefits expense increased by $32.8 million, or 18.5 percent, in Q2 2024 compared to Q2 2023, driven by a 10.2 percent increase in full-time equivalent employees and a $23.7 million accrual for pilot retention bonuses[92]. - Aircraft fuel expense rose by $7.4 million, or 4.6 percent, in Q2 2024, primarily due to a 5.2 percent increase in average fuel cost per gallon[93]. - Depreciation and amortization expense increased by $11.4 million, or 21.2 percent, in Q2 2024, largely due to $6.0 million related to the Sunseeker Resort[94]. - Passenger revenue decreased by $77.6 million, or 6.2 percent, for the six months ended June 30, 2024, attributed to an 8.0 percent decrease in average scheduled service base fare[101]. - Third-party products revenue increased by $15.6 million, or 28.3 percent, for the six months ended June 30, 2024, driven by a 38.4 percent increase in co-brand credit card revenues[101]. - Operating CASM, excluding fuel, increased by 9.9 percent to 8.54 cents for the six months ended June 30, 2024, primarily due to a $64.4 million increase in salaries and benefits expense[103]. - Special charges recorded in Q2 2024 totaled $18.1 million, including $9.3 million of accelerated depreciation from the early retirement of 21 airframes[96]. - Interest expense for the quarter increased by $1.8 million, primarily due to a $58.5 million increase in outstanding principal[97]. - Income tax expense for Q2 2024 was $4.3 million at an effective tax rate of 24.0 percent, compared to $27.9 million at the same rate in Q2 2023[98]. - Other operating expense increased by $2.5 million, or 7.7 percent, in Q2 2024, driven by an $8.1 million increase in Sunseeker Resort operating expenses[95]. Operational Efficiency - The airline's controllable completion factor was 99.7% in Q2 2024, indicating high operational efficiency[70]. - The airline's operating CASM, excluding fuel and special charges, increased by 5.6% to 8.23 cents in Q2 2024 compared to Q2 2023[91]. - Total passengers decreased by 2.8% year-over-year to 4,621,848 in Q2 2024[1]. - Available seat miles (ASMs) decreased by 0.8% year-over-year to 5,013,209 thousands in Q2 2024[1]. - Airline operating expense per ASM (CASM) increased by 9.2% year-over-year to 12.02 cents in Q2 2024[1]. - Total passenger revenue per ASM (TRASM) decreased by 4.5% year-over-year to 13.03 cents in Q2 2024[1]. Cash Flow and Debt - Cash, cash equivalents, and investment securities decreased to $851.1 million as of June 30, 2024, from $870.7 million at December 31, 2023[19]. - Debt and finance lease obligations decreased by $44.5 million to $2.24 billion as of June 30, 2024[21]. - Operating cash inflows provided $236.7 million during the six months ended June 30, 2024, compared to $346.6 million in the same period of 2023[22]. - Cash used for investing activities was $109.8 million during the six months ended June 30, 2024, compared to $517.8 million in the same period of 2023[23]. - Current share repurchase authority is $75.7 million, with no repurchases made since December 2023[20]. Fuel and Commodity Risks - Aircraft fuel expenses accounted for 26.7% of total operating expenses for the six months ended June 30, 2024[131]. - A hypothetical 10% increase in the average price per gallon of fuel would have increased fuel expenses by approximately $34.6 million[131]. - As of June 30, 2024, the company had $434.9 million of variable-rate debt, with a potential $2.2 million increase in interest expense for a 100 basis point change in interest rates[132]. - The company is subject to market risks, particularly related to commodity prices such as aircraft fuel[130]. - The company does not hedge fuel price risk, exposing it to volatility in fuel costs[131]. Strategic Initiatives - The company has signed agreements with Boeing for 50 new 737 MAX aircraft, with expectations of only four deliveries in 2024 due to ongoing delays[73][74]. - The Sunseeker Resort opened in December 2023, but is expected to incur losses in its first year of operations despite positive customer reviews[83]. - The ability to successfully operate the Sunseeker Resort is a key strategic focus for future growth[126]. - Forward-looking statements include expectations regarding aircraft utilization and revenue management system improvements[125]. - The company has a joint alliance planned with VivaAerobus, which may impact future operations[125]. - Risks include reliance on third parties for aircraft delivery and potential regulatory impacts on operations[126].

Allegiant Travel Company (NASDAQ:ALGT) Q2 2024 Earnings Conference Call July 31, 2024 4:30 PM ET Company Participants Sherry Wilson – Managing Director-Investor Relations Maury Gallagher – Executive Chairman and Chief Executive Officer Greg Anderson – President and Incoming Chief Executive Officer Scott DeAngelo – Executive Vice President and Chief Marketing Officer Drew Wells – Senior Vice President and Chief Revenue Officer Robert Neal – Senior Vice President and Chief Financial Officer Micah Richins – Pr ...

For the quarter ended June 2024, Allegiant Travel (ALGT) reported revenue of $666.28 million, down 2.6% over the same period last year. EPS came in at $1.77, compared to $4.35 in the year-ago quarter.The reported revenue represents a surprise of +1.11% over the Zacks Consensus Estimate of $659 million. With the consensus EPS estimate being $0.84, the EPS surprise was +110.71%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Exhibit 99.1 ALLEGIANT TRAVEL COMPANY SECOND QUARTER 2024 FINANCIAL RESULTS Second quarter 2024 GAAP diluted earnings per share of $0.75 Second quarter 2024 diluted earnings per share, excluding special charges, of $1.77 Second quarter 2024 airline only diluted earnings per share, excluding special charges, of $2.24 (1)(3) (1)(3) ANNOUNCED STRATEGIC REVIEW OF SUNSEEKER RESORT LAS VEGAS. July 31, 2024 — Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the second quar ...

Company engages Prospect Hotel Advisors for their specialized expertise LAS VEGAS, July 31, 2024 /PRNewswire/ -- Allegiant Travel Company (NASDAQ: ALGT) announced today it has retained global hospitality asset management firm Prospect Hotel Advisors, LLC to conduct a strategic review of its hotel, Sunseeker Resort Charlotte Harbor. The recently opened resort, located in Southwest Florida, is a wholly owned subsidiary of Allegiant Travel Company and is Florida's premier gulf coast oasis, offering magnificent ...