(RTTNews) - Alaska Air Group (ALK) said, for full year 2022, the company continues to expect capacity down 8% to 9% compared to 2019. Despite the impact of elevated fuel and new labor deals, the company still expects to deliver a full year adjusted pre-tax margin of 6% to 9%.
Compared to 2019, the company projects fourth-quarter total revenue to increase 12% to 15%. Capacity is estimated to be down 7% to 10%. Passenger load factor is expected in a range of 83% to 86%.
Third quarter earnings totaled $40 million, or $0.31 per share compared with $194 million, or $1.53 per share, prior year. Excluding items, adjusted earnings was $325 million or $2.53 per share for the period. Analysts on average had expected the company to earn $2.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company reported adjusted pretax margin for the third quarter of 15.6%.
Revenue rose 45.1% to $2.83 billion from $1.95 billion last year. Analysts on average had estimated $2.82 billion in revenue.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
