Alaska Air Group (NYSE: ALK) reported Q4 EPS of $0.75, $0.04 better than the analyst estimate of $0.71. Revenue for the quarter came in at $2.064 billion versus the consensus estimate of $2.06 billion.

• Reported net income for the fourth quarter and full year 2018 under Generally Accepted Accounting Principles (GAAP) of $23 million, or $0.19 per diluted share, and $437 million, or $3.52 per diluted share. These results compare to fourth quarter 2017 net income of $315 million, or $2.55 per diluted share, and full year 2017 net income of $960 million, or $7.75 per diluted share. The 2017 financial information has been adjusted to reflect changes associated with the implementation of new revenue recognition and retirement benefits accounting standards that became effective Jan. 1, 2018.
• Reported adjusted net income, excluding merger-related costs, special charges, and mark-to-market fuel hedging adjustments for the fourth quarter and full year 2018 of $93 million, or $0.75 per diluted share, and $554 million, or $4.46 per diluted share. These results compare to fourth quarter 2017 adjusted net income of $88 million, or $0.71 per diluted share, and full year 2017 adjusted net income of $791 million, or $6.38 per diluted share. This quarter\'s adjusted results compare to the First Call analyst consensus estimate of $0.71 per share.
• Paid a $0.32 per-share quarterly cash dividend in the fourth quarter, bringing total dividends paid in 2018 to $158 million.
• Repurchased a total of 776,186 shares of common stock for approximately $50 million in 2018.
• Generated approximately $1.2 billion of operating cash flow, and used approximately $960 million for capital expenditures, resulting in approximately $240 million of free cash flow in 2018.
• Grew passenger revenues by 6% compared to the fourth quarter of 2017, and by 5% compared to full-year 2017.
• Generated full-year adjusted pretax margin of 8.9% in 2018.
• Held $1.2 billion in unrestricted cash and marketable securities as of Dec. 31, 2018.
• Reduced debt-to-capitalization ratio to 47% as of Dec. 31, 2018, compared to 53% as of Dec. 31, 2017.

"In 2018, we achieved the vast majority of our integration milestones and passed through an inflection point in our financial performance," said Alaska CEO Brad Tilden. "Our employees have shown great resilience through the integration, and thanks to their skill and dedication, we have strong momentum and a lot of optimism heading into 2019."

For earnings history and earnings-related data on Alaska Air Group (ALK) click here.