Alaska Air Group (ALK) Tops Q3 EPS by 13c
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Alaska Air Group (NYSE: ALK) reported Q3 EPS of $2.20, $0.13 better than the analyst estimate of $2.07. Revenue for the quarter came in at $1.56 billion versus the consensus estimate of $1.56 billion.
- Generated approximately $1.2 billion of operating cash flow and $700 million of free cash flow for the nine months ending September 30, 2016.
- Achieved 24.8% adjusted pre-tax margin on a trailing 12-month basis.
- Achieved return on invested capital of 24.4% for the 12-month period ending September 30, 2016.
- Held $3.2 billion in unrestricted cash and marketable securities as of September 30, 2016.
Planned Acquisition of Virgin America:
- Announced proposed acquisition of Virgin America on April 4, 2016.
- Raised approximately $1.5 billion of funding in anticipation of the proposed acquisition of Virgin America.
- Recorded special items of $22 million in the third quarter for merger-related costs.
For earnings history and earnings-related data on Alaska Air Group (ALK) click here.
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