Allegiant Travel: Q1 Earnings Snapshot
LAS VEGAS (AP) _ Allegiant Travel Co. (ALGT) on Tuesday reported first-quarter net income of $6.9 million, after reporting a loss in the same period a year earlier.
The Las Vegas-based company said it had net income of 42 cents per share. Losses, adjusted for non-recurring gains, were $3.58 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $3.17 per share.
The travel services company posted revenue of $279.1 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $284.3 million.
Allegiant Travel shares have increased 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $230.36, more than tripling in the last 12 months.