Q3 25 EPS
$1.05
MISS 4.67%
Est. $1.10
Q3 25 Revenue
$3.77B
BEAT +0.24%
Est. $3.76B
vs S&P Since Q3 25
+0.1%
BEATING MARKET
ALK +10.1% vs S&P +10.0%
Market Reaction
Did ALK Beat Earnings? Q3 2025 Results
Alaska Air Group delivered a mixed third quarter, with adjusted earnings per share of $1.05 falling short of the $1.10 consensus estimate by 4.67%, even as revenue of $3.77 billion edged just above expectations and climbed 22.6% year over year. The p… Read more Alaska Air Group delivered a mixed third quarter, with adjusted earnings per share of $1.05 falling short of the $1.10 consensus estimate by 4.67%, even as revenue of $3.77 billion edged just above expectations and climbed 22.6% year over year. The profit shortfall traced largely to a summer IT outage that disrupted operations and drove elevated recovery costs, compounded by difficult West Coast jet fuel refining margins running roughly $0.75 above Gulf Coast benchmarks. On a pro forma basis that treats Hawaiian Airlines as fully consolidated in both periods, total operating revenue rose 1% with unit revenue up 1.4%, while premium revenue grew 5% and corporate travel rebounded 8% after softness in the prior quarter. A second IT outage on October 23 prompted the company to postpone its earnings conference call, adding fresh uncertainty around fourth-quarter costs. Management guided Q4 adjusted EPS to at least $0.40 and full-year 2025 adjusted EPS to at least $2.40, reiterating its longer-term target of $10.00 per share by 2027 through its Alaska Accelerate strategy.
Key Takeaways
- • Industry-leading unit revenue with RASM up 1.4% year-over-year on pro forma basis
- • Premium revenue increased 5% year-over-year
- • Cargo revenue increased 27% year-over-year (20% pro forma)
- • Corporate travel grew 8% year-over-year, rebounding from low single-digit declines in Q2
- • Loyalty program cash remuneration increased 8% year-over-year
- • Commercial initiatives and synergy capture remained on track for third consecutive quarter
ALK YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
ALK Revenue by Segment
With YoY comparisons, source: SEC Filings
“Alaska's profitable quarter was powered by another period of industry-leading unit revenue. I'm proud of our people for taking care of our guests, executing major integration milestones and capturing synergies ahead of plan as we bring together Alaska and Hawaiian Airlines. Together we are delivering on our Alaska Accelerate vision, building our future as a global airline positioned to compete with greater scale, deeper relevance and stronger loyalty in the places we fly.”
— Ben Minicucci, Q3 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% |