Allegiant Travel (ALGT) Misses Q2 EPS by 47c

Allegiant Travel (NASDAQ: ALGT) reported Q2 EPS of $2.49, $0.47 worse than the analyst estimate of $2.96. Revenue for the quarter came in at $400.6 million versus the consensus estimate of $400.01 million.

“I am pleased to announce we had our 58th consecutive profitable quarter," stated Maurice J. Gallagher Jr., chairman and CEO of Allegiant Travel Company. "I am also pleased with our 21.3 percent operating margin during this transition time for the company. We are well into the wind down of our MD-80 fleet. We have taken delivery of our first four new 186 seat A320 aircraft from Airbus as of July 26th. We expect to place into service another ten Airbus aircraft including six more new A320s throughout the remainder of 2017. We also signed an agreement to acquire an additional 13 used A320s which we announced in June 2017. This was the last transaction needed to solidify the plan to retire all the MD-80s by the end of 2019. Thank you to all of our team members for another successful quarter."

For earnings history and earnings-related data on Allegiant Travel (ALGT) click here.

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