PR Newswire
SEATTLE, Jan. 25, 2024
Announced agreement to acquire Hawaiian Airlines
Achieved record annual operating revenue of $10.4 billion
SEATTLE, Jan. 25, 2024 /PRNewswire/ -- Alaska Air Group Inc. (NYSE: ALK) today reported financial results for the fourth quarter and full year ended December 31, 2023.
"Air Group's 2023 accomplishments were significant," said CEO Ben Minicucci. "I want to thank our people for delivering a reliable operation, industry-leading cost performance, and a strong 7.5% adjusted pretax margin. As we navigate early 2024, we remain steadfast in our commitment to safety, providing a premium experience for our guests, and delivering durable financial performance. I am also grateful for how the team has rallied together to demonstrate tremendous professionalism and care in the midst of a challenging start to 2024 for them and our guests. Alaska is a resilient company with a track record of operational excellence, and we are confident in the plans we have laid out to ensure that success moving forward."
Financial Results:
Balance Sheet and Liquidity:
Operational Updates:
737-9 MAX Grounding:
Environmental, Social, and Governance Updates:
Awards and Recognition:
The following table reconciles the company's reported GAAP net income (loss) per share (EPS) for the three and twelve months ended December 31, 2023 and 2022 to adjusted amounts.
| Three Months Ended December 31, | ||||||
| 2023 | | 2022 | ||||
(in millions, except per share amounts) | Dollars | | Diluted EPS | | Dollars | | Diluted EPS |
GAAP net income (loss) per share | $ (2) | | $ (0.02) | | $ 22 | | $ 0.17 |
Mark-to-market fuel hedge adjustments | 12 | | 0.09 | | 12 | | 0.09 |
Special items - fleet transition and other(a) | 37 | | 0.29 | | 120 | | 0.93 |
Special items - labor and related(b) | — | | — | | (6) | | (0.04) |
Special items - net non-operating(c) | 4 | | 0.03 | | — | | — |
Income tax effect of reconciling items above | (13) | | (0.09) | | (30) | | (0.23) |
Non-GAAP adjusted net income per share | $ 38 | | $ 0.30 | | $ 118 | | $ 0.92 |
| Twelve Months Ended December 31, | ||||||
| 2023 | | 2022 | ||||
(in millions, except per share amounts) | Dollars | | Diluted EPS | | Dollars | | Diluted EPS |
GAAP net income per share | $ 235 | | $ 1.83 | | $ 58 | | $ 0.45 |
Mark-to-market fuel hedge adjustments | (2) | | (0.02) | | 76 | | 0.60 |
Special items - fleet transition and other(a) | 392 | | 3.05 | | 496 | | 3.88 |
Special items - labor and related(b) | 51 | | 0.40 | | 84 | | 0.66 |
Special items - net non-operating(c) | 18 | | 0.14 | | — | | — |
Income tax effect of reconciling items above | (111) | | (0.87) | | (158) | | (1.24) |
Non-GAAP adjusted net income per share | $ 583 | | $ 4.53 | | $ 556 | | $ 4.35 Werbung Mehr Nachrichten zur Alaska Air Group Aktie kostenlos abonnieren
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