Alaska Air Group Inc. (ALK) has announced its second-quarter earnings, which, while lower than the previous year, surpassed Wall Street estimates.
The company's net income for the quarter was $220 million, or $1.71 per share, compared to $240 million, or $1.86 per share, in the same period last year.
Excluding special items, Alaska Air Group's adjusted earnings were $327 million or $2.55 per share.
Analysts, on average, had anticipated earnings of $2.37 per share, according to data compiled by Thomson Reuters, with their estimates generally excluding special items.
Revenue for the quarter increased by 2.1%, rising to $2.90 billion from $2.84 billion in the previous year.
Summary of Alaska Air Group Inc.'s second-quarter earnings (GAAP):
- Net Income: $220 million vs. $240 million last year
- Earnings Per Share (EPS): $1.71 vs. $1.86 last year
- Revenue: $2.90 billion vs. $2.84 billion last year
