Allegiant Travel reports Q4 EPS ex-charges 11c , consensus (21c)

Reports Q4 operating revenue $611.0M, consensus $594.71M. Reports Q4 airline only diluted earnings per share, excluding special charges, of 86c. “I am pleased to report 2023 diluted earnings per share, excluding special charges, of $7.31. At the onset of 2023 we committed to delivering a reliable operation, and Team Allegiant more than delivered. Not only did we end the year with a controllable completion of 99.8%, we delivered an airline-only operating margin, excluding specials, of more than 11%. Our unique, low-utilization business model, focusing on an out and back structure, continues to stand the test of time. As mentioned last quarter, Allegiant is a PLFC, profitable leisure-focused carrier. While the team and I are proud of what we accomplished this past year, we still have work to do to restore margins to historical levels. We are focused on returning to our long-term financial targets as we head into 2024. We have spent the past few years outlining our ambitious plans to position ourselves as an integrated travel company. We hit a major milestone in our company history by officially opening Sunseeker Resort to the public on December 15. The sprawling waterfront resort, boasting 785 hotel rooms and 20 wholly owned food and beverage outlets has been more than four years in the making. The resort provides a world class leisure destination to offer to our customers. It will take some time for the property to ramp to financial maturity. We are encouraged by early bookings and expect to be EBITDA positive during 2024,” stated Maurice Gallagher, Jr., chairman and CEO of Allegiant Travel.