WASHINGTON (dpa-AFX) - Alaska Air Group (ALK) said, for full year 2022, the company continues to expect capacity down 8% to 9% compared to 2019. Despite the impact of elevated fuel and new labor deals, the company still expects to deliver a full year adjusted pre-tax margin of 6% to 9%.
Compared to 2019, the company projects fourth-quarter total revenue to increase 12% to 15%. Capacity is estimated to be down 7% to 10%. Passenger load factor is expected in a range of 83% to 86%.
Third quarter earnings totaled $40 million, or $0.31 per share compared with $194 million, or $1.53 per share, prior year. Excluding items, adjusted earnings was $325 million or $2.53 per share for the period. Analysts on average had expected the company to earn $2.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company reported adjusted pretax margin for the third quarter of 15.6%.
Revenue rose 45.1% to $2.83 billion from $1.95 billion last year. Analysts on average had estimated $2.82 billion in revenue.
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