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Alaska Air (ALK)
NYSE:ALK
Earnings Data
Report Date
Apr 16, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.82Last Year’s EPS
-0.77Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a balanced picture: strong operational and strategic progress (integration milestones, large aircraft order, Atmos loyalty and card momentum, premium revenue growth, share repurchases and delivered synergies) that position the company for medium-term improvement, but significant near-term headwinds remain (IT outages, macro-driven revenue shortfalls >$500M in 2025, fuel price volatility, Q1 earnings weakness and a wide 2026 guidance range). Management emphasized that many negatives are transient and remediation/harvesting of 2025 investments should drive margin expansion, but execution risk and external volatility keep outcomes uncertain in the near term.Company Guidance
Adjusted Earnings Ahead of Revised Guidance
Adjusted net income of $50M in Q4 and $293M for the full year; adjusted EPS of $0.43 in Q4 and $2.44 for FY2025, both ahead of the company's revised guidance in December.
Revenue and Unit Revenue Growth
Q4 total revenue $3.6B, up 2.8% year-over-year on 2.2% capacity growth (unit revenues +0.6%). Full year revenue $14.2B, up 3.3% on 1.9% capacity growth (unit revenues +1.4%).
Premium Cabin Outperformance
Premium (First and Premium Class) revenue up 7.1% in Q4 and 6.7% for the full year; premium represented 36% of total revenue in Q4 and outperformed Main Cabin by ~9.5 points in the quarter and 7 points for the year.
Loyalty and Credit Card Momentum
Unified loyalty program Atmos launched August; bank cash remuneration $2.1B for the year (+10% YoY). Loyalty revenues up 12% in Q4. New premium Atmos Summit card had 75,000 sign-ups in 4 months (3x expectations); full-year card acquisitions +17% YoY; premium cardholders spend ~2x base-cardholders. Atmos business card accounts up >185% YoY.
Integration Milestones and Synergies Delivered
Single operating certificate achieved in October (13 months post-merger). Synergies finished ahead of plan (notably network synergies), Hawaii region was the strongest year-over-year performer within the combined network.
Fleet and Order Book Strength
Secured largest aircraft order in company history with Boeing; order book of 261 aircraft if options exercised, including firm orders to grow 787 fleet to 17. MAX 10 expected to add ~5.5% more seats and increase first-class seats by ~25% vs MAX 9.
Share Repurchases and Liquidity
Executed $570M of share repurchases in 2025 (more than halfway of the $1B authorization), lowering diluted share count to 117M from 129M. Operating cash flow $1.2B for the year and total liquidity of $3B at year-end.
International Network Expansion
Launched Tokyo and Seoul service; scheduled to begin London, Rome and Reykjavik service in spring. Selling in six foreign currencies and launched local language websites (Japanese, Korean, Italian); pursuing ~17 codeshare destinations beyond London to reach ~55 total European destinations.
Product and Technology Upgrades
Completed 86% of seat retrofits on 218 Boeing 737s (enables 1.3M incremental premium seats and supports $100M incremental profit target). Starlink Wi-Fi installed on 66 aircraft (~16% of fleet); plan for 50% of fleet by end-2026 and 100% by end-2027.
Cost Discipline and Capital Allocation
Q4 unit costs up 1.3% YoY and came in below guidance; full-year unit costs up ~4.7% YoY amid limited capacity growth. Planned 2026 CapEx $1.5B with expectation to generate positive free cash flow and continued execution of synergies.
ALK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ALK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 22, 2026 | $48.86 | $50.87 | +4.11% |
Oct 23, 2025 | $47.68 | $46.63 | -2.20% |
Jul 23, 2025 | $53.88 | $50.83 | -5.66% |
Apr 23, 2025 | $46.11 | $41.51 | -9.98% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Alaska Air (ALK) report earnings?
Alaska Air (ALK) is schdueled to report earning on Apr 16, 2026, Before Open (Confirmed).
What is Alaska Air (ALK) earnings time?
Alaska Air (ALK) earnings time is at Apr 16, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ALK EPS forecast?
ALK EPS forecast for the fiscal quarter 2026 (Q1) is -0.82.
