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April 22, 2021, 6:22 a.m. EDT

Alaska Air's stock climbs after narrower-than-expected loss, with cash flow turning positive in March

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By Tomi Kilgore

Shares of Alaska Air Group Inc. /zigman2/quotes/200972303/composite ALK -1.17% rallied 1.3% in premarket trading Thursday, after the air carrier reported a narrower-than-expected first-quarter loss and revenue and load factor that topped forecasts, and said cash flow turned positive in March. The net loss narrowed to $131 million, or $1.05 a share, from $232 million, or $1.89 a share, in the year-ago period. Excluding nonrecurring items, CARES payroll support and mark-to-market fuel hedge accounting adjustments, the adjusted per-share loss was $3.51, beating the FactSet loss consensus of $3.63. Total revenue fell 51% to $797 million but was above the FactSet consensus of $786.4 million. Load factor fell to 51.9% from 69.6%, but topped expectations of 48.6%, as traffic was down 49.4% while capacity declined 32.1%. The stock has run up 32.4% year to date through Wednesday, while the U.S. Global Jets ETF /zigman2/quotes/207744796/composite JETS -2.94% has climbed 14.5% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.14% has advanced 11.1%.

/zigman2/quotes/200972303/composite
US : U.S.: NYSE
$ 64.77
-0.77 -1.17%
Volume: 1.81M
May 12, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$8.06 billion
Rev. per Employee
$162,113
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/zigman2/quotes/207744796/composite
US : U.S.: NYSE Arca
$ 24.78
-0.75 -2.94%
Volume: 5.82M
May 12, 2021 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,063.04
-89.06 -2.14%
Volume: 2.40B
May 12, 2021 5:03p
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