📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Allegiant Travel Company, a leisure travel company, provides travel and leisure services and products to residents of under-served cities in the United States.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding ALGT

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	276.9K	$22.4M	0.03%	Mar 2026
Jim Simons Renaissance Technologies LLC	91.0K	$7.4M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific ~ Volatile 4 quarters analysed

Q2 2025

Cautious

Management consistently highlighted 'softer domestic leisure demand' and guided for a Q3 operating loss, while expressing confidence in cost control and full-year profitability with phrases like 'cautiously optimistic' and 'we continue to expect to report a healthy operating profit.'

Q3 2025

Confident Specific

Management repeatedly used positive language like 'proud', 'great strides', 'outperformed', 'industry-leading', 'confident', and provided concrete numbers (CASM ex-fuel down 7% YTD, $135M loyalty remuneration, 11% Q4 margin guidance) to underscore operational and financial improvements.

Q4 2025

Confident Specific

The tone is confident and specific, with management stating 'we close 2025 with strong momentum', 'financial results for the fourth quarter exceeded our original expectations', and providing precise guidance such as '13.5% adjusted operating margin in the first quarter' and 'adjusted EPS of more than $8 per share' for full year 2026.

Q1 2026 latest

Confident Specific

Management repeatedly used specific metrics (14.9% adjusted operating margin, 16.4% TRASM growth, $168M EBITDA) and framed Q1 as 'industry-leading' and 'record'. Acknowledged fuel headwinds but emphasized control and flexibility, e.g., 'we are not immune' but 'gap between efficient airlines and weaker operators is widening'.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis for Allegiant is strengthened by this call. Q1 2026 delivered record revenue and industry-leading margins despite capacity cuts, proving the leisure-focused, flexible model works even in a volatile fuel environment. The proactive 6.5% capacity reduction in Q2 and expected flat/slight decline in Q3 protect margins while maintaining peak flying, and TRASM acceleration signals pricing power. The imminent Sun Country acquisition adds fuel-pass-through businesses (cargo/charter) and fleet ownership flexibility, which are particularly valuable now. Key watch items: whether RASM can sustain double-digit growth as easy comps fade, the trajectory of jet fuel prices (currently volatile but easing from April peak), and the pace of post-close integration and synergy realization. The solid balance sheet ($1.2B liquidity, net leverage 1.8x) provides a buffer. Next quarter, focus on Q3 RASM/CASM-ex performance and initial combined guidance.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific ~ Volatile 4 quarters Full tone analysis in Intelligence →

📊 MIXED Q1 adjusted operating margin 14.9% on $732M revenue; Sun Country merger closing soon

Revenue & Profitability

First quarter net income was $69.6 million, EPS $3.77, with adjusted operating margin of 14.9% (highest Q1 since pre-COVID). EBITDA was $168 million (22.9% margin). TRASM increased 16.4% year-over-year to $0.1431, while CASM-ex rose 7.1% to $0.0864 due to 5.9% lower capacity. For Q2, the company guides to an operating margin of approximately 1% and a loss per share of about $0.50, assuming fuel at $4.35 per gallon.

Outlook

Management reports that leisure demand remains strong, with cash sales running double-digit growth through April despite capacity reductions. The main headwind is sharp jet fuel cost increases (crack spreads nearly tripled in early April). The company expects the gap between efficient, well-run airlines and weaker operators to widen, and it positions Allegiant and Sun Country on the favorable side of that gap.

Growth Drivers

Key growth levers include the 737 MAX fleet (20%+ fuel efficiency improvement, 30% better ASMs per gallon, expected to produce over 20% of ASMs in 2026 and 50% by 2028). The co-brand card is growing at over 15% year-over-year in new accounts and spend. Allegiant Extra continues to exceed expectations. The Sun Country acquisition brings fixed-fee and cargo businesses with contractual fuel pass-through, which is especially valuable in a high-fuel environment.

Balance Sheet & CapEx

Q1 capital expenditures were $176 million, including $155 million in aircraft-related spend and $21 million in other airline investments. Full-year CapEx guidance is maintained. The company expects to refinance its 2027 senior secured notes in coming months, pending market conditions. Unencumbered fleet assets have a market value of approximately $1.3 billion, providing additional liquidity flexibility.

Margins

Q1 adjusted operating margin of 14.9% was up nearly six points year-over-year and is expected to be industry-leading for the second consecutive quarter. Q2 margin is guided to about 1% due to a $120 million incremental fuel expense. CASM-ex is expected to peak in Q2, but non-fuel costs for full-year 2026 are still expected to be down versus 2024. The company maintains a flexible cost structure that allows it to reduce off-peak capacity when margins are under pressure.

Key Risks

The primary risk highlighted is jet fuel volatility, with crack spreads having nearly tripled to $1.70 per gallon before easing to $1.20. Capacity adjustments may impact unit costs. The company also faces geopolitical uncertainty and potential further fuel price increases. Integration of Sun Country carries execution risk, though management is confident. Analyst questions raised the potential for a competitor (Spirit) to receive federal assistance, but Allegiant stated it would not affect their outlook.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-04

Record Q2 revenue and industry-leading margins were achieved, driven by strong TRASM growth and successful integration of Sun Country. Full-year EPS is expected to exceed $6 despite fuel volatility, with robust liquidity and disciplined capacity management supporting continued margin expansion.

Q1 2026 Q1 2026 2026-04-30

Q1 2026 saw record revenue, a 14.9% adjusted operating margin, and strong leisure demand despite fuel cost pressures. The Sun Country merger is on track for May, expected to enhance flexibility and deliver $140 million in synergies. Guidance anticipates a Q2 loss due to high fuel prices.

Q4 2025 Q4 2025 2026-02-04

Closed 2025 with record revenue, strong operational reliability, and industry-leading cost control. 2026 guidance calls for over $8 EPS, margin expansion, and continued fleet modernization, with Sun Country acquisition expected to accelerate growth.

Q3 2025 Q3 2025 2025-11-04

Q3 2025 saw improved demand, strong operational performance, and cost reductions, though a modest operating loss was reported. The MAX fleet integration and sale of Sunseeker Resort support margin expansion and a robust balance sheet, with 2026 guidance focused on flat capacity and higher peak utilization.

Q2 2025 Q2 2025 2025-08-04

Q2 saw record operational performance, strong cost control, and margin outperformance despite softer leisure demand. The sale of Sunseeker Resort will simplify the business and strengthen the balance sheet. 2025 guidance remains cautious, with higher earnings expected in 2026 as new initiatives and fleet upgrades take effect.

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