Allegiant rapporteert een nettowinst van $ 88.5 miljoen in het tweede kwartaal

Allegiant rapporteert een nettowinst van $ 88.5 miljoen in het tweede kwartaal

Tijdstempel: 3 augustus 2023 9:42 uur
Bronknooppunt: 2801165
Allegiant Air Airbus A320-214 WL N247NV (msn 7704) LAS (Jay Selman). Image: 404293.

Allegiant Travel Company (Allegiant Air) reported the following financial results for the second quarter 2023, as well as comparisons to the prior year:   

Geconsolideerde Drie maanden eindigend op 30 juni Procentuele verandering
(niet gecontroleerd) (in miljoenen, behalve bedragen per aandeel) 2023 2022 YoY
Totale bedrijfsopbrengsten $ 683.8 $ 629.8 8.6%
Totale bedrijfskosten 550.4 603.7 (8.8) %
Bedrijfsresultaat 133.4 26.1 411.1%
Inkomsten voor belastingen 116.3 5.8 NM
netto-inkomen 88.5 4.4 NM
Verwaterde winst per aandeel 4.80 0.24 NM
Sunseeker special charges, net of recovery (5) (11.2) - NM
Diluted earnings per share excluding recovery of Sunseeker special charges(1) (4) (5) 4.35 0.24 NM
Alleen luchtvaartmaatschappij Drie maanden eindigend op 30 juni Procentuele verandering(2)
(niet gecontroleerd) (in miljoenen, behalve bedragen per aandeel) 2023 2022 YoY
Bedrijfsopbrengsten van luchtvaartmaatschappijen (1) $ 683.8 $ 629.8 8.6%
Exploitatiekosten van luchtvaartmaatschappijen (1) 556.3 602.0 (7.6) %
Bedrijfsinkomsten van luchtvaartmaatschappijen (1) 127.5 27.9 357.0%
Luchtvaartinkomsten vóór inkomstenbelastingen (1) 110.4 10.4 961.5%
Netto inkomen van luchtvaartmaatschappijen (1) (3) 84.2 7.7 993.5%
Airline operating margin 18.6% 4.4% 14.2%
Airline diluted earnings per share(1) 4.57 0.43 962.8%
Geconsolideerde Zes maanden geëindigd op 30 juni Procentuele verandering
(niet gecontroleerd) (in miljoenen, behalve bedragen per aandeel) 2023 2022 YoY
Totale bedrijfsopbrengsten $ 1,333.5 $ 1,130.0 18.0%
Totale bedrijfskosten 1,105.2 1,096.6 0.8
Bedrijfsresultaat 228.3 33.4 583.5
Inkomen (verlies) vóór inkomstenbelastingen 190.8 (4.7) NM
netto inkomen (verlies) 144.6 (3.5) NM
Verwaterde winst (verlies) per aandeel 7.84 (0.20) NM
Sunseeker special charges, net of recovery (5) (12.8) - NM
Diluted earnings per share excluding recovery of Sunseeker special charges(1) (4) (5) 7.35 (0.20) NM
Alleen luchtvaartmaatschappij Zes maanden geëindigd op 30 juni Procentuele verandering(2)
(niet gecontroleerd) (in miljoenen, behalve bedragen per aandeel) 2023 2022 YoY
Bedrijfsopbrengsten van luchtvaartmaatschappijen (1) $ 1,333.5 $ 1,130.0 18.0%
Exploitatiekosten van luchtvaartmaatschappijen (1) 1,108.4 1,091.9 1.5
Bedrijfsinkomsten van luchtvaartmaatschappijen (1) 225.1 38.1 490.8
Luchtvaartinkomsten vóór inkomstenbelastingen (1) 189.2 4.7 NM
Netto inkomen van luchtvaartmaatschappijen (1) (3) 144.2 3.7 NM
Airline operating margin 16.9% 3.4% 13.5
Airline diluted earnings per share(1) 7.81 0.20 NM
(1)  Geeft een niet-GAAP financiële maatstaf aan. Raadpleeg het gedeelte Niet-GAAP-presentatie in dit document voor meer informatie en voor de berekening van de cijfers per aandeel.
(2)  Except Airline Operating Margin, which is percentage point change.
(3)  Utilizing an effective tax rate of 23.7% and 23.8% for quarter-to-date and year-to-date 2023 and 25.4% and 21.4% for quarter-to-date and year-to-date 2022, respectively.
(4)  Adjusted to exclude insurance recoveries from property damage to Sunseeker Resort.
(5)  In 2022, we recognized the full amount of estimated property damage to Sunseeker Resort due to Hurricane Ian and other insured events less the amount of recognized insurance recoveries through the end of the applicable period. The negative amount of special charges we are reporting in 2023 reflects further insurance recoveries either received or determined to be probable of collection. We sometimes refer to this negative amount as “specials” in this earnings release.
NM       Niet zinvol

“Second quarter diluted earnings per share, excluding special items was $4.35, a more than six-fold improvement over the second quarter of 2022,” stated John Redmond, CEO of Allegiant Travel Company. “These outstanding results are attributable to the hard work of our team members during this peak summer travel period. The team delivered industry-leading operational performance with a controllable completion of 99.7 percent for the quarter.”We recognized a record $684 million in total operating revenue for the second quarter, evidence of a robust leisure demand environment. Capacity increased slightly, up 1.3 percent year-over-year, with TRASM increasing 7.5 percent over the second quarter of 2022.  During the second quarter, total ancillary per passenger was $71.75, an 8.6 percent increase over the prior year. This strength is driven by early success with the Allegiant Extra product and sustained growth with our Allegiant Allways cobrand credit card. Our direct-to-consumer approach helps underpin our ability to enhance revenues.”As we head into the second half of the year, our focus remains on three primary objectives. First, we will make progress on outstanding labor contracts that our team members are proud to support. Second, we will continue delivering a solid operation. Finally, we are only a few short months from the long awaited opening of our world-class, Sunseeker Resort, in Port Charlotte, Florida. Construction is entering the final stages, and the operations teams are beginning to hire personnel in earnest. We remain on track to open the property mid-October.”I could not be happier with the success the team delivered this quarter. Achieving industry-leading operational performance in the backdrop of a challenging operational environment is admirable. This operational success has been the catalyst for the strong financial performance delivered year-to-date.”Second Quarter 2023 Results and Highlights

  • Income before income tax, excluding specials(1) (3) van $ 105.1 miljoen, yielding a pre-tax margin of 15.4 percent
    • Airline-only income before income tax(1) van $ 110.4 miljoen, wat een marge vóór belastingen van 16.1 procent oplevert
  • Operating income, excluding specials(1) (3) of $122.2 million, yielding an operating margin of 17.9 percent
    • Airline-only operating income(1) of $127.5 million, yielding an airline-only operating margin of 18.6 percent
  • Consolidated EBITDA, excluding specials(1) (3) van $ 176.1 miljoen, wat een EBITDA-marge van 25.8 procent oplevert
    • Airline-only EBITDA(1) of $181.3 million, a 26.5 percent margin
  • Totale bedrijfsopbrengsten was $683.8 million, up 8.6 percent over the prior year and the highest quarterly total in company history
    • Total fixed fee contracts revenue of $11.7 million, up 31.6 percent year-over-year
    • TRASM(2) of 13.64 cents, up 7.5 percent year-over-year on scheduled service capacity increase of 0.7 percent year-over-year
  • Totaal gemiddeld tarief of $142.31, up 8.1 percent year-over-year
    • Total average ancillary fare of $71.75, up 8.6 percent year-over-year
  • Surpassed 600 thousand Allways rewards credit card holders during the quarter
    • Received $29 million in remuneration during the quarter
    • Transitioning our cobrand credit card network from Mastercard to Visa
      • Core program and benefits will remain the same, but this transition is expected to boost program revenue through higher levels of new cardholders and increased cardholder spend
  • Altijd beloningen program enrolled 570 thousand new members during the quarter, bringing total members to 16.5 million
  • Paid out over $12 million to our airline team members in profit share for the first half of the year
  • Airline-only Operating CASM, excluding fuel, of 7.79 cents, up 12.9 percent year-over-year
    • Includes $12 million in incremental cost related to pilot retention bonuses
  • Allegiant flight dispatchers ratified contract with International Brotherhood of Teamsters, extending the contract through May 31, 2026
  • In early July, expanded the network by announcing six new routes
  • Pledged $1 million to Boys & Girls Clubs of America to develop and launch a new program that will inspire children to choose future careers in aviation
(1)  Geeft een niet-GAAP financiële maatstaf aan. Raadpleeg het gedeelte Niet-GAAP-presentatie in dit document voor meer informatie en voor de berekening van de cijfers per aandeel.
(2)  TRASM represents total passenger revenue per scheduled service available seat mile.
(3)  In 2022, we recognized the full amount of estimated property damage to Sunseeker Resort due to Hurricane Ian and other insured events less the amount of recognized insurance recoveries through the end of the applicable period. The negative amount of special charges we are reporting in 2023 reflects further insurance recoveries either received or determined to be probable of collection. We sometimes refer to this negative amount as “specials” in this earnings release.

Balans, liquide middelen en liquiditeit

  • Totaal beschikbare liquiditeit at June 30, 2023 was $1.4 billion, which included $1.0 billion in cash and investments, and $356.2 million in undrawn revolving credit facilities and PDP facilities
  • $ 131.2 miljoen binnen contant geld uit operaties during the second quarter 2023
  • Total debt at June 30, 2023 was $2.2 billion
    • Net debt at June 30, 2023 was $1.1 billion
  • Schuld hoofdbetalingen of $97.9 million during the second quarter
    • Includes $61 million prepayment of an aircraft-secured facility during the quarter
  • Declared annual cash dividend in the amount of $2.40 per share payable $0.60 per quarter with the first dividend to be paid September 1, 2023 to shareholders of record on August 15, 2023
  • Aansprakelijkheid voor luchtverkeer op 30 juni 2023 was $ 411.1 miljoen

Kapitaaluitgaven van luchtvaartmaatschappijen

  • Tweede quarter capital expenditures of $176 million, which included $147 million for aircraft purchases and inductions, pre-delivery deposits, and other related costs, and $29 million in other airline capital expenditures
    • Tweede kwartaal uitgesteld groot onderhoud uitgaven waren $ 22 miljoen

Sunseeker Resort Charlotte Harbor

  • Totale investeringsuitgaven(1) as of June 30, 2023 were $611 million
    • Tweede kwartier kapitaaluitgaven(1) waren $ 92 miljoen
  • Previously recorded special charges were reduced by $11.3 million for recognized insurance recoveries related to outstanding insurance claims at Sunseeker Resort
(1)  Total capital expenditures is inclusive of Sunseeker Resort, Aileron Golf Club, remediation work related to insurance events, accrued expenditures not yet paid and spend included as part of the COVID impairment. Capitalized interest, operating expenses, special charges related to COVID, and estimated losses related to insurance events have been excluded from this total.
Begeleiding, onder voorbehoud van herziening
Full-year 2023 guidance Vorige Actueel
Systeem-ASM's – jaar na jaar verandering 0 tot 3% 0 tot 3%
Lijndienst-ASM's – jaar na jaar verandering 0 tot 3% 0 tot 3%
Brandstofkosten per gallon $ 3.00 $ 2.90
Available seat miles (ASMs)/gallon ~ 84 ~ 84
Afschrijvingskosten (miljoenen) $ 230 tot $ 240 $ 230 tot $ 235
Rentelasten (miljoenen) $ 150 tot $ 160 $ 145 tot $ 150
Geactiveerde rente (1) (Miljoenen) ($35) tot ($45) ($30) tot ($35)
Rentebaten (miljoenen) $ 35 tot $ 45 $ 40 tot $ 45
Earnings per share – airline only(2) $ 9.00 - $ 13.00 $ 10.50 - $ 13.00
Loss per share – Sunseeker (3) ~($1.25) ~($1.25)
Luchtvaartmaatschappij CAPEX 
Vliegtuigen, motoren, inductiekosten en aanbetalingen vóór levering (miljoenen)(4) $ 550 tot $ 570 $ 490 tot $ 500
Geactiveerd uitgesteld zwaar onderhoud (miljoenen) $ 50 tot $ 60 $ 60 tot $ 70
Andere investeringen in luchtvaartmaatschappijen (miljoenen) $ 130 tot $ 150 $ 140 tot $ 145
Terugkerende hoofdbetalingen (miljoenen)(5) $ 175 tot $ 185 $ 210 tot $ 215
Sunseeker Resort Charlotte Harbor Project (millions) 
Total projected capital expenditures (6) $695 $695
Capital expenditures funded or expected to be funded by Allegiant $345
Project debt incurred through June 30, 2023 $350
(1)  Includes capitalized interest related to Sunseeker as well as on pre-delivery deposits on new aircraft.
(2)  Earnings per share calculation is airline only. It includes accruals for increases in pilot and flight attendant compensation beginning in May. Actual results will differ based on economic terms agreed upon and the timing of the collective bargaining agreements. These differences may be material.
(3)  Excludes recoveries that may be received related to business interruption insurance claim.
(4)  Excludes capitalized interest related to pre-delivery deposits on new aircraft.
(5)   Includes $61 million related to aircraft debt prepayment. 
(6)  Total projected capital expenditures does not reflect the impairment or special charges related to COVID or insurance claims. Excludes amounts to remediate physical damage to the property resulting from Hurricane Ian, or other subsequent insurance events.
Vliegtuigvlootplan per einde periode
Vliegtuig - (stoelen per airco) 1Q23 2Q23 3Q23 YE23
A319 (156 zitplaatsen) 35 35 35 35
A320 (177 zitplaatsen) 19 19 19 19
A320 (180-186 zitplaatsen) 70 72 73 73
Totaal 124 126 127 127
The table above is provided based on the company’s current plans and is subject to change. The numbers exclude aircraft expected to be delivered before the end of 2023 for revenue service beginning in 2024.

Top Copyright Photo: Allegiant Air Airbus A320-214 WL N247NV (msn 7704) LAS (Jay Selman). Image: 404293.

Allegiant Air aircarft photo gallery:

Allegiant Air aircraft photo gallery

Tijdstempel:

Meer van Wereld Airline News