Stock Market Live July 2, 2026: S&P 500 (SPY) Flat with New Jobs Data
Q2 25 EPS
$1.78
BEAT +15.01%
Est. $1.55
Q2 25 Revenue
$3.70B
BEAT +1.36%
Est. $3.65B
vs S&P Since Q2 25
-22.1%
TRAILING MARKET
ALK -5.0% vs S&P +17.1%
Market Reaction
Did ALK Beat Earnings? Q2 2025 Results
Alaska Air Group posted a strong second quarter, delivering adjusted earnings of $1.78 per share and beating the $1.55 consensus estimate by 15.01%, while total operating revenue of $3.70 billion edged past expectations by 1.36% and climbed 27.9% yea… Read more Alaska Air Group posted a strong second quarter, delivering adjusted earnings of $1.78 per share and beating the $1.55 consensus estimate by 15.01%, while total operating revenue of $3.70 billion edged past expectations by 1.36% and climbed 27.9% year-over-year. The headline revenue growth was heavily shaped by the September 2024 Hawaiian Airlines acquisition, though on a pro forma basis the combined carrier still grew revenue 2% and expects to lead the industry on RASM trends. The most compelling driver behind the beat was Hawaiian's own trajectory: the acquired carrier's adjusted pretax margin expanded by 11 points year-over-year in Q2, crossing into positive territory and reinforcing management's confidence in its $1 billion incremental profit target by 2027. For investors who had flagged execution and integration risks as near-term concerns, the quarter offered meaningful reassurance. Looking ahead, Alaska guided full-year adjusted EPS above $3.25 and Q3 EPS of $1.00 to $1.40, the latter reflecting an estimated $0.10 hit from a July IT outage, while trimming capacity growth to roughly 2% for the year.
Key Takeaways
- • Hawaiian Airlines integration progressing — adjusted pretax margin expanded 11 points year-over-year, surpassing breakeven
- • 49% of revenue generated outside the main cabin
- • Premium revenue grew 5% year-over-year
- • Cargo revenue grew 34% year-over-year
- • Loyalty program cash remuneration grew 5% year-over-year
- • Economic fuel cost per gallon declined to $2.39 from $2.84 year-over-year (reported basis)
- • Pro forma RASM down only 0.6%, expected to lead the industry
ALK YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
ALK Revenue by Segment
With YoY comparisons, source: SEC Filings
“The results this quarter are clear evidence of our team's disciplined execution and unwavering focus on what we can control: delivering a remarkable guest experience, driving operational excellence and unlocking the value of our newly combined network and commercial platform.”
— Ben Minicucci, Q2 2025 Earnings Press Release
ALK Earnings Trends
ALK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ALK EPS Trend
Earnings per share: estimate vs actual
ALK Revenue Trend
Quarterly revenue: estimate vs actual
ALK Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-1.59 | $-1.68 | -5.75% | $3.30B | +0.28% |
| Q4 25 BEAT FY | $0.11 | $0.43 | +297.05% | $3.63B | -0.28% |
| FY Full Year | $2.14 | $2.44 | +13.82% | $14.24B | -0.07% |
| Q3 25 MISS | $1.10 | $1.05 | -4.67% | $3.77B | +0.24% |
| Q2 25 BEAT | $1.55 | $1.78 | +15.01% | $3.70B | +1.36% |
| Q1 25 MISS | $-0.77 | $-0.77 | -0.05% | $3.14B | -0.71% |