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Stock Market Live July 2, 2026: S&P 500 (SPY) Flat with New Jobs Data
Alaska Air Group

Alaska Air Group (ALK) Q4 2025 Earnings

Reported Jan 22, 2026 at 5:15 PM ET · SEC Source

Q4 25 EPS

$0.43

BEAT +297.05%

Est. $0.11

Q4 25 Revenue

$3.63B

MISS 0.28%

Est. $3.64B

vs S&P Since Q4 25

-3.5%

TRAILING MARKET

ALK +3.9% vs S&P +7.5%

Full Year 2025 Results

FY 25 EPS

$2.44

BEAT +13.82%

Est. $2.14

FY 25 Revenue

$14.24B

MISS 0.07%

Est. $14.25B

Market Reaction

Did ALK Beat Earnings? Q4 2025 Results

Alaska Air Group posted a sharp earnings beat in Q4 2025, with adjusted EPS of $0.43 clearing the $0.11 consensus estimate by 290.91%, even as revenue of $3.63 billion came in just a hair below the $3.64 billion forecast despite growing 2.8% year ove… Read more Alaska Air Group posted a sharp earnings beat in Q4 2025, with adjusted EPS of $0.43 clearing the $0.11 consensus estimate by 290.91%, even as revenue of $3.63 billion came in just a hair below the $3.64 billion forecast despite growing 2.8% year over year. The outperformance was driven roughly equally by better-than-expected non-fuel cost control and a favorable combination of lower December fuel costs and a reduced effective tax rate, with CASMex rising only 1.3% against prior guidance of approximately 3%. GAAP net income, however, fell to $21.00 million, or $0.18 per share, compared with $71.00 million, or $0.55 per share, in Q4 2024, reflecting integration-related costs tied to the Hawaiian Airlines combination. The quarter also brought a major Boeing fleet order and a unified FAA operating certificate with Hawaiian, reinforcing management's confidence in the Alaska Accelerate strategy. Looking ahead, the company guided full-year 2026 adjusted EPS of $3.50 to $6.50, with early Q1 corporate bookings running up 20% year over year signaling strengthening demand.

Key Takeaways

  • • Premium revenue increased 7% year-over-year, now representing 36% of total revenue
  • • Loyalty revenue increased 12% year-over-year
  • • Cargo revenue increased 22% year-over-year
  • • Corporate travel grew 9% year-over-year in Q4, a 2-point sequential improvement from Q3
  • • CASMex increased only 1.3% year-over-year, better than ~3% guidance, driven by cost management focus
  • • Commercial initiatives and synergies remained on track for the fourth consecutive quarter
  • • Record credit card acquisitions, with nearly one-fourth of Q4 signups for new premium credit card
24/7 Wall St

ALK YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

ALK Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q4 25

“We feel momentum accelerating in 2026 as the Alaska-Hawaiian Airlines combination gains full strength. The people across our airlines delivered through a transformational year that set us up to win: an expanding global network, premium travel experiences delivered with care, and Atmos Rewards elevating our 11-year streak as the No. 1 airline loyalty program. Our model is positioned for where travelers are headed, and we're ready to compete as one of four global U.S. airlines.”

— Ben Minicucci, Q4 2025 Earnings Press Release

Back to ALK Stock Page