Allegiant Travel reports Q1 EPS 57c, consensus 50c

Reports Q1 revenue $656.4M, consensus $644.27M. “We finished the quarter with diluted earnings per share, excluding special charges, of 57 cents,” stated Maurice J. Gallagher, Jr., chairman and CEO of Allegiant. “The peak demand environment remained strong throughout the quarter, with TRASM representing the second best Q1 TRASM in company history. Demand trends are holding into the second quarter, and although we expect TRASM to be down from the highs of 2023, we anticipate second quarter TRASM will again be among the best second quarters in company history – particularly impressive given expected growth during the peak month of June of roughly six percent, year-over-year. The Q1 marked the first full quarter of operations at Sunseeker Resort. Hats off to the team led by Micah Richins and Jason Shkorupa. The final product is truly amazing and unique to that part of Florida. It will take time to build to financial maturity. We are still in the early stages, but our marketing efforts are now in full swing. Encouragingly, food and beverage surpassed our initial expectations and accounted for nearly half of total Sunseeker revenue during the first quarter. I am excited to see the potential of this property unfold in the coming years.”