Alaska Airlines (ALK, Financial) experienced a significant stock price increase of 5.00%, reaching $50.99 per share. The trading volume was 1.39 million shares, with a turnover rate of 1.10% and a price fluctuation of 3.02%.
The airline recently reported impressive financial results, with revenues of $3.072 billion and a net income of $236 million. Earnings per share were reported at $1.87, and gross profits amounted to $762 million, leading to a price-to-earnings ratio of 20.31.
Analysts are optimistic about the stock, with 80% of the 15 participating brokerages giving a buy rating and 20% giving a hold rating. None recommended selling the stock. The airline industry showed no overall gain, but Spirit Airlines, Frontier Group Holdings, and Allegiant Travel saw notable increases.
Alaska Air Group Inc operates through two airlines, Alaska Airlines and Horizon Air, across three segments. It runs mainline routes with Boeing and Airbus jets within the US, parts of Mexico, and Costa Rica. Regional routes are operated by Horizon and third-party airlines within a short-haul network in the US and Canada under capacity purchase agreements (CPA). Revenue comes from ticket sales, auxiliary passenger income, and mileage program revenue.
