WASHINGTON (dpa-AFX) - Alaska Air Group, Inc. (ALK) reported that its net income for the fourth quarter of 2024 was $71 million or $0.55 per share, compared to net loss of $2 million, or $0.02 per share last year.
The company expects adjusted loss per share to be $0.50 to $0.70 for the first-quarter of 2025. The company projects adjusted earnings per share to be greater than $5.75 for fiscal year 2025.
Meanwhile the company reported that net income, excluding special items and other adjustments, for the fourth quarter of 2024 was $125 million or $0.97 per share, compared to $38 million or $0.30 per share in the prior year.
'This was a transformational year as we brought Hawaiian Airlines into Alaska Air Group and began our journey to unlock $1 billion in incremental pretax profit over the next three years,' said CEO Ben Minicucci.
Total operating revenue for the quarter grew to $3.53 billion from $2.55 billion in the prior year.
The company authorized a new $1 billion dollar share repurchase plan to be executed over the next four years, with repurchases beginning in January 2025.
The company noted that Alaska and Horizon employees earned $325 million of incentive pay in 2024 by achieving profitability, safety, sustainability, and operational targets. The payout represents approximately six weeks of pay for most employees.
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