Allegiant Travel sees Q2 adjusted EPS ($1.00)-(0c), consensus (10c)

The company said. “The below guidance is for Allegiant on a stand-alone basis and excludes any contribution from our planned acquisition of Sun Country”. Sees Q2 System ASMs – year-over-year change (~6.5%); Scheduled service ASMs – year-over-year change (~6.5%); and fuel cost per gallon $4.35. Gregory Anderson, CEO of Allegiant Travel (ALGT) Company, said, “As we move into the Q2, leisure demand remains healthy despite geopolitical dynamics that have impacted the broader economy. We have proactively reduced capacity during off-peak times and shortened average stage lengths as we navigate the higher fuel environment. We now expect Q2 capacity to be down 6.5% year-over-year. A core tenet of our long-term success is flexing our capacity to focus on profitability over utilization. We are confident that the strength of our business model and strong financial position will allow us to navigate this elevated fuel environment as well as any airline in our sector. With regulatory approvals now behind us, and pending shareholder approvals, we expect to close on the acquisition of Sun Country by as early as mid-May. Closing in just over four months after announcement highlights the agility and capabilities of the company. We look forward to combining our complementary networks, advancing our commitment to connect our travelers with attractive destinations, and delivering a stronger, more valuable airline for our shareholders. This combination should extend our leadership position in the value segment of the industry. We are excited about what’s ahead.”