EarningsQ2 2026 Earnings Report
DE:AGH Q2 2026 EPS Results
Actual EPS€1.95
Consensus EPS€0.99
Beat/MissBeat by +€0.96
One Year Ago EPS€1.09
DE:AGH Q2 2026 Revenue Results
Actual Revenue€839.46M
Expected Revenue€874.35M
Beat/MissMissed by -€34.89M
YoY Revenue Growth+36.86%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
DE:AGH Upcoming Earnings
Allegiant Travel Company's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:AGH Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive outlook driven by record revenue, strong unit revenue gains (TRASM +24.6% for Allegiant), industry‑leading margins (9.2% operating margin), successful early integration wins (cross‑sell, Navitaire alignment, Expedia launch), fleet modernization benefits from MAX deliveries, and a robust balance sheet and liquidity. Notable near‑term challenges include higher fuel prices, elevated nonfuel unit costs and one‑time cash outflows (pilot retention bonus), plus pilot attrition at Sun Country resulting in off‑peak capacity reductions. Management provided multi‑quarter clarity (Q3 guide and full‑year EPS > $6) and a path to capture minimum $140M run‑rate synergies by 2029. Overall, the positives—sizable revenue and margin outperformance, successful integration momentum and strong liquidity—outweigh the near‑term headwinds.Company Guidance
Record Quarterly Revenue and Strong Stand‑alone Performance
Combined Q2 revenue of $943.5M (includes Sun Country May 13–Jun 30); stand‑alone Allegiant Q2 total revenue $776M, up 16.1% YoY. Stand‑alone Allegiant scheduled service air revenue increased $102M YoY, roughly offsetting a $99M increase in fuel expense.
Material Unit Revenue Improvement (TRASM)
Stand‑alone Allegiant 2Q TRASM $0.1442, up 24.6% YoY. Combined Sun Country stand‑alone TRASM $0.1264, up ~22% YoY. Management expects Q3 unit revenue growth roughly in line with Q2 (≈24.6%).
Best‑in‑Industry Profitability Metrics
Consolidated Q2 operating margin 9.2% (best of any U.S. carrier this quarter). Consolidated pretax income $64.5M; consolidated EPS of $2.19 for Q2. Consolidated EBITDA nearly $158M with an EBITDA margin of ~17%.
Cost Discipline: CASM Ex‑Fuel Performance
Stand‑alone Allegiant 2Q CASM ex fuel $0.0817, up 6.4% YoY on capacity down ~6.8%. Management achieved better‑than‑expected CASM ex fuel in Q2, with some nonfuel cost shifts expected into Q3.
Fleet Modernization and MAX Contribution
737 MAX aircraft represented 21% of scheduled service ASMs in Q2 (vs. 11% a year ago). Combined fleet at quarter end: 193 aircraft. Expect ~6 additional MAX deliveries in H2 2026 (one delivered in July); roughly 20 MAX shells expected to enter service in 2027, improving fuel efficiency and unit economics.
Commercial Momentum and New Distribution Channel
Launched Expedia OTA connection (100% live July 10). Early results: ~3% of bookings via Expedia with >50% of those bookings from net‑new customers to Allegiant—helpful for customer acquisition across a broad network.
Loyal Customer Base and Successful Ancillary Programs
Repeat flyers ~70% of customer base. Allegiant co‑brand credit card remuneration up 24% YoY in Q2; bank compensation increased 24% and new card acquisition strong (July 2026 expected to set a record for new accounts). Management aims to grow card remuneration from ~5% of revenue to 10% over time.
Sun Country Contributions and Cargo Growth
Sun Country contributed $13.4M pretax during the stub period. Sun Country stand‑alone fixed fee revenue $65.7M and cargo revenue $50.6M—both record quarters for Sun Country; long‑term fixed fee + cargo ~9% of trailing 12‑month revenue.
Balance Sheet Strength and Liquidity
Available liquidity ~$1.3B (cash & investments $1.1B + $250M undrawn revolvers). Completed $650M 2031 note issuance (7.125% coupon). Net debt $1.7B; pro forma net leverage ~2.6x. Management expects to absorb $275M pilot retention payout from cash with no additional financing needed.
DE:AGH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed