=Alaska Air (ALK) reported earnings on Thur 26 July 2018 (b/o)

Alaska Air beats by $0.04, reports revs in-line; guides Q3, lowers FY18 capacity outlook 

• Reports Q2 (Jun) earnings of $1.66 per share, excluding non-recurring items, $0.04 better thanthe Capital IQ Consensus of $1.62; revenues rose 2.6% year/year to $2.16 bln vs the $2.16 bln Capital IQ Consensus.
• Q3:
  • Co sees Capacity (ASMs in millions) 17,095 - 17,145
  • Co sees Revenue per ASM (cents) 12.66 - 13.06
  • Co sees Cost per ASM excluding fuel and special items (cents) 8.36 - 8.41
• FY18:
  • Co sees Capacity (ASMs in millions) of 65,780 - 65,930 (Prior 65,950 - 66,100)
  • Co sees Cost per ASM excluding fuel and special items (cents) of 8.50 - 8.53 (Prior 8.51 - 8.56)
• Sees Capacity (ASMs) growth of 2% in 2019, 4% in 2020

Earnings this week : July 23 - 27, 2018 (wk 30)

This week marks the first of three very heavy weeks of earnings reports -- roughly 1/3 of the S&P 500 will report quarterly results.

Monday (July 23)

• Morning: ITW HAL PHG HAS LII
• Afternoon: GOOG GOOGL AMTD CDNS STLD ZION WHR

Tuesday (July 24)

• Morning: VZ MMM UTX LLY LMT BIIB SHW KMB CNC PCAR IQV DGX WAT EDU TRU WAB
• Afternoon: T TXN SYK CB EQR AMP WCN TSS CSGP IEX WRB RHI TER CSL MKSI  USNA

Wednesday (July 25)

• Morning: UMC BA KO UPS TMO NEE ANTM GD NOC GM BSX NSC HCA WM AEP TEL SIRI SRE TROW APH FCAU HLT GLW FCX IR ROK DTE HES LH STM CHKP S GRUB USG SIX TRVG IMAX  OC  TUP

• Afternoon: FB V PYPL GILD QCOM MDLZ LVS VRTX F SU NOW ALGN ORLY XLNX MHK AMD EFX CTXS FTI RJF PKG UHS VAR AEM FFIV SNBR ECHO

  DRE TMK AGNC GGG SUI MEOH KRC EHC DLB KNX MPWR MAT CW TRN KEX CHE CLB AXS LSTR CLGX ASGN STAY FR CUZ MSA NGVT CVRR JBT CCMP ESV LM QEP ESRT PEB OII DDR ARI ALGT DRQ ROIC QTS FOE MTH FWRD BEAT FCPT CDE KRA WPG EIG TILE FARO ETH ANIK SFS SB AXTI BPI ABX GG CCJ

Thursday (July 26)

• Morning: RDS.A MA CMCSA MCD AUO MO BMY COP AZN CELG AGN RTN CME SPGI PX VLO MMC BAX KDP APD MPC SPOT LUV ALXN ROP MPLX MCK AAL CVE DHI LLL YNDX MLCO NLSN UAA PHM ALK ALKS RS HP XRX WWE DNKN B SAVE ALLY OAK CPG  AAN    NGD   

     XEL TAL IP PCG NEM HSY ABMD TECK AAL  EQT KKR CNHI MLM CMS YNDX LEA ODFL IVZ  LKQ LDOS TSCO BWA UAA PHM ALLE ICLR AXTA WST CFR  KIM EQM LAZ NOK NRZ ORI FAF BC UTHR CRI ENTG GRA EME VLY ADNT FCFS PAG SPB ARD BMS UBSI COR RDN VC PRLB PTEN SYNT NVCR  PENN COLB DLX TREE AB TPX VLP  FCN GWB NTCT AXE TSEM MNRO MINI CWT THRM PATK 

• Afternoon: LOGM  AUY  AMZN INTC AMGN SBUX EA AFL EW LRCX FTV DFS DLR WDC EIX EXPE HIG VRSN MXIM NOV TEAM CMG JNPR COLM PFPT FSLR BYD RARE FHB SAM NCR ISBC ELLI DECK SKYW BOFI EGHT IMPV ABAX MATW FIX MSTR 

Friday (July 27)

• Morning: GT  VIRT   XOM CVX MRK ABBV CL PSX AON MCO TWTR WY SYF ZBH

Virgin America (VA) was acquired by Alaska Air Group (ALK) for $2.6 billion

Alaska Air Group (ALK) acquired Virgin America (VA), at a valuation of $2.6 billion, with additional expenses bringing the cost to approximately $4 billion.  With the transaction, Virgin America became a sister carrier to the other Alaska Air Group subsidiaries Alaska Airlines and Horizon Air.

     

Long trade : ALK +20% (3/16)

• 6 weeks later:

• 3 weeks later

ALK — is it a buy?

• 1/21/16:   Right after earnings.  Is it a buy?

• No, it continued lower.

Alaska Air (ALK) reported 4Q earnings on Thur 21 Jan 2016 (b/o)

** charts before earnings **

 

** charts after earnings **

  

Alaska Air beats by $0.05, reports revs in-line; raises dividend 38%; guides Q1, FY16 :

• Reports Q4 (Dec) adj. earnings of $1.46 per share, $0.05 better than the Capital IQ Consensus of $1.41; revenues rose 5.4% year/year to $1.38 bln vs the $1.38 bln Capital IQ Consensus. 
• PRASM -6.6%.
• Guidance: Sees Q1 capacity +13.5%, FY16 +8%; cost per ASM -1.5% Q1, -1% FY16; 42% of FY16 fuel hedged at $68/barrel.
• Announced a 38% increase in the quarterly dividend, from $0.20 per share to $0.275 per share in January 2016. This is the third time the company has raised the dividend since initiating the quarterly dividend in July 2013, with a cumulative increase of 175% since that time.

ALK — is it a buy?

• 12/24/15

• a month later