Alaska reports mixed second quarter, lowers full year EPS guidance

Alaska Airlines has reported mixed second quarter results on July 17, 2024. Its adjusted net income was $327 million, or $2.55 per share, down from last year’s $387 million, or $3 per share, in the same period. TD Cowen analysts Thomas Fitzgerald and Helane Becker said the earnings per share (EPS) beat its estimates of $2.34 and consensus of $2.38 per share. The US airline’s total operating revenues fell slightly short of the analysts’ expectations at $2.9bn, up only in low single digit from last year’s $2.8bn. Total operating expenses were up slightly compared to $2.6bn. Fuel prices were $2.84