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Alaska Air | 8-K: Alaska Air Group reports fourth quarter and full year 2023 results

SEC announcement ·  Jan 25 06:04
Summary by Moomoo AI
On January 25, 2024, Alaska Air Group, Inc. reported its financial results for the fourth quarter and full year of 2023. The company announced a net loss for the fourth quarter but a net income for the full year. The full year's net income, excluding special items and mark-to-market fuel hedge accounting adjustments, was $583 million, or $4.53 per diluted share, compared to $556 million, or $4.35 per diluted share in the previous year. Alaska Air Group also highlighted a record annual operating revenue of $10.4 billion and an adjusted pretax margin of 7.5% for 2023. Additionally, the company expects full year 2024 adjusted earnings per share to be between $3.00 and $5.00, despite a $150 million negative impact from the grounding of their Boeing 737-9 MAX fleet. The company also announced...Show More
On January 25, 2024, Alaska Air Group, Inc. reported its financial results for the fourth quarter and full year of 2023. The company announced a net loss for the fourth quarter but a net income for the full year. The full year's net income, excluding special items and mark-to-market fuel hedge accounting adjustments, was $583 million, or $4.53 per diluted share, compared to $556 million, or $4.35 per diluted share in the previous year. Alaska Air Group also highlighted a record annual operating revenue of $10.4 billion and an adjusted pretax margin of 7.5% for 2023. Additionally, the company expects full year 2024 adjusted earnings per share to be between $3.00 and $5.00, despite a $150 million negative impact from the grounding of their Boeing 737-9 MAX fleet. The company also announced an agreement to acquire Hawaiian Airlines and introduced various operational updates, including new routes and partnerships. The grounding of the 737-9 MAX fleet has led to a revised capacity growth expectation, now at or below the lower end of the previously estimated 3% to 5% range. Alaska Air Group's shares are traded on the New York Stock Exchange under the ticker symbol ALK.

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