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Allegiant Travel

ALGT Q1 2026 Earnings

Reported Apr 30, 2026 at 4:12 PM ET · SEC Source

Q1 26 EPS

$3.77

BEAT +8.08%

Est. $3.49

Q1 26 Revenue

$732.4M

BEAT +2.24%

Est. $716.4M

vs S&P Since Q1 26

+40.1%

BEATING MARKET

ALGT +41.9% vs S&P +1.7%

Market Reaction

Did ALGT Beat Earnings? Q1 2026 Results

Allegiant Travel posted a strong beat across the board in the first quarter of 2026, with adjusted diluted EPS of $3.77 clearing the $3.49 consensus estimate by 8.08% and revenue of $732.43 million edging past expectations by 2.24% to mark a 4.8% yea… Read more Allegiant Travel posted a strong beat across the board in the first quarter of 2026, with adjusted diluted EPS of $3.77 clearing the $3.49 consensus estimate by 8.08% and revenue of $732.43 million edging past expectations by 2.24% to mark a 4.8% year-over-year gain. The headline figures were powered by a sharp improvement in revenue quality rather than volume, as total revenue per available seat mile climbed 16.4% year-over-year to 14.31 cents even as system capacity contracted 5.9%, a deliberate pruning of off-peak flying that lifted scheduled service load factors nearly four percentage points to 84.4% and pushed yields up 20.8%. A 14.9% adjusted operating margin underscored just how effectively the carrier converted that revenue intensity into profit, despite fuel costs rising 16.5% year-over-year to $3.04 per gallon. Looking ahead, the picture shifts meaningfully; Allegiant guided second-quarter adjusted EPS to a range of negative $1.00 to breakeven, citing fuel of $4.35 per gallon, even as management expects TRASM improvement to accelerate beyond the first quarter's pace. The pending Sun Country acquisition, expected to close as early as mid-May, adds a longer-term growth dimension that analysts note could bring meaningful network and operational synergies.

Key Takeaways

  • • Exceptional peak-period leisure demand driving 16.4% TRASM improvement year-over-year
  • • Total yields up over 20% year-over-year with load factor improving nearly 4 percentage points
  • • Co-brand credit card remuneration up 8.9% year-over-year to $39.3M with over 600,000 cardholders
  • • Allegiant Extra premium seating product continuing to outperform expectations
  • • Controllable completion factor exceeding 99.9%
  • • Fuel efficiency improvement for fifth consecutive quarter with ASMs per gallon at 86.7
  • • Disciplined capacity reduction of 5.9% year-over-year focused on off-peak periods

ALGT Forward Guidance & Outlook

For Q2 2026, Allegiant guides system ASMs down approximately 6.5% year-over-year, fuel cost per gallon of $4.35, adjusted operating margin of 0.0% to 2.0%, and adjusted EPS of ($1.00) to ($0.00). TRASM improvement is expected to increase sequentially beyond Q1's 16.4% YoY growth. Q3 capacity is now expected to be flat to slightly down year-over-year. Full-year 2026 capital expenditures are guided at $570-590M for aircraft-related, $80-90M for capitalized deferred heavy maintenance, and $80-90M for other airline capex. Recurring principal payments are expected at $135-145M. The Sun Country acquisition is expected to close as early as mid-May 2026. The $403M of 2027 notes are expected to be refinanced in the coming months subject to constructive market conditions.

24/7 Wall St

ALGT YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

ALGT Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q1 26

“We had a great start to the year, delivering another quarter of strong operational and financial results. Customer service continues to be a top priority, and I'm pleased to report the team once again achieved a controllable completion rate exceeding 99.9%.”

— Gregory Anderson, Q1 2026 Earnings Press Release

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