The earnings call reflects a strong financial performance with record revenue and profitability achievements, particularly from Hawaiian assets and premium segments. However, challenges such as IT disruptions and elevated costs temper the outlook. Overall, the sentiment is more positive due to strategic achievements and future growth prospects.

Company Guidance -

Q3 2025

During the Alaska Air Group 2025 Second Quarter Earnings Call, the company reported a GAAP net income of $172 million and an adjusted net income of $215 million, with adjusted earnings per share at $1.78, exceeding guidance. The company generated a record $3.7 billion in revenue, marking a 2% year-over-year increase on a 2.7% capacity growth. Unit revenue performance was expected to lead the industry, finishing slightly under 1% down year-over-year. Premium revenues rose by 5%, driven by a 19% increase from Hawaiian assets. The company announced a projected adjusted earnings per share of at least $3.25 in 2025, aiming for $10 by 2027. Key growth drivers include the launch of a new loyalty program and premium credit card, expansion of international routes from Seattle, and a focus on premium revenue. The company also highlighted successful integration efforts with Hawaiian Airlines, achieving profitability for the first time since 2019. In Q3, capacity is expected to decrease by 1% year-over-year, with unit revenues projected to be flat to up low single digits, fueled by encouraging demand trends and potential easing of fuel prices.

Record Revenue Performance

Air Group generated a record $3.7 billion in revenue for the second quarter, with unit revenue performance expected to lead the industry.

Hawaiian Assets Turn Profitable

The Hawaiian assets reported their first profitable quarter since 2019, driven by the successful integration and synergies with Alaska.

Strong Premium Revenue Growth

Premium revenues increased by 5% year-over-year, with Hawaiian premium revenues up nearly 19%, highlighting the success of expanding premium offerings.

Successful Launch of New International Routes

The Seattle to Tokyo Narita route achieved a load factor of over 80% with strong RASM performance, and future expansions include routes to Seoul Incheon and Rome.

Robust Cargo Revenue Growth

Cargo revenues increased by 34% year-over-year, supported by the addition of new freighter aircraft and expanded international cargo capabilities.

Alaska Air (ALK) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ALK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 16, 2025	2025 (Q3)	1.32 / -	2.25	―	―	―
Jul 23, 2025	2025 (Q2)	1.54 / 1.78	2.55	-30.20% (-0.77)
Apr 23, 2025	2025 (Q1)	-0.77 / -0.77	-0.92	16.30% (+0.15)
Jan 23, 2025	2024 (Q4)	0.47 / 0.97	0.3	223.33% (+0.67)
Oct 31, 2024	2024 (Q3)	2.22 / 2.25	1.83	22.95% (+0.42)	―	―
Jul 17, 2024	2024 (Q2)	2.41 / 2.55	3	-15.00% (-0.45)
Apr 18, 2024	2024 (Q1)	-1.05 / -0.92	-0.62	-48.39% (-0.30)
Jan 25, 2024	2023 (Q4)	0.18 / 0.30	0.92	-67.39% (-0.62)	―
Oct 19, 2023	2023 (Q3)	1.86 / 1.83	2.53	-27.67% (-0.70)	―
Jul 25, 2023	2023 (Q2)	2.71 / 3.00	2.19	36.99% (+0.81)	―

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
Jul 23, 2025	$53.88	$50.83	-5.66%
Apr 23, 2025	$46.11	$41.51	-9.98%
Jan 23, 2025	$67.40	$68.85	+2.15%
Oct 31, 2024	$47.27	$47.91	+1.35%

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.