Alaska Air Group reports third quarter 2026 results
Alaska Air Group reported Q3 2026 revenue of $4.3 billion, up 14% year-over-year, with RASM up 11.7% on only 2.4% capacity growth — but a GAAP net loss of $147 million, or ($1.32) per share. Excluding a $75 million tax catch-up adjustment, adjusted EPS was $0.36, within prior guidance; adjusted net loss was ($35) million as fuel costs per gallon jumped 57% to $3.94. The company cut its full-year outlook to an adjusted loss of ($5.50)-($5.00) per share, citing $1.8 billion in fuel expense above plan, with Q4 fuel assumed at $4.65-$4.85 per gallon.
Key figures
- Revenue
- 4308
- Guidance
- FY26 adjusted loss per share ($5.50)-($5.00); Q4 capacity up 1-1.5%, RASM up low double digits, CASMex up mid-single digits, economic fuel $4.65-$4.85/gallon, Q4 adjusted loss per share ($2.50)-($2.00)
- Revenue Yoy
- 14%
- Asm yoy
- 2.4%
- Rasm yoy
- 11.7%
- Casmex yoy
- 4.4%
- Available liquidity
- 3300000000
- Net debt to ebitdar
- 5.5x
- Fuel cost per gallon
- 3.94
- Debt to capitalization
- 66%
- Premium revenue growth
- 25%
- Operating cash flow 9mo
- 755000000
- Loyalty cash remuneration
- 721000000
- Adjusted eps ex tax impacts
- 0.36
AI analysis
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