Allegiant Travel reports Q1 EPS $3.04 ex items, consensus $2.30

Reports Q1 revenue $649.7M, consensus $628.81M. Q1 EPS excludes recovery of Sunseeker special charges. "I am happy to report we delivered strong financial results during the Q1 with diluted earnings per share of $3.09," stated John Redmond, CEO of Allegiant Travel Company. "The team worked tirelessly to ensure operational integrity, and our controllable completion of 99.9% for the quarter is a testament to their efforts. Running a safe, reliable operation is a critical component to our success, and I could not be prouder of the team’s performance. Demand remained strong throughout the quarter resulting in total operating revenue of $650M, a 30% increase year-over-year. Notably, we see continued momentum in total ancillary per passenger, finishing the quarter at $75.19 per passenger, the highest quarterly result in our history. The Allways rewards credit card helped elevate this number with record new cardholder acquisitions and increased cardholder spend during the quarter. Enhanced technology, an expanded roll-out of Allegiant Extra in the fleet, and the opening of Sunseeker Resort later this year should act as tailwinds for this number in the coming years."