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Allegiant (ALGT) Posts Unimpressive April Traffic Numbers

Zacks Equity Research
·2 分鐘文章

Allegiant Travel Company ALGT recently reported disappointing traffic numbers for April 2024 due to the softness in air travel demand.

Scheduled traffic (measured in revenue passenger miles) fell 13% from the April 2023 levels. Capacity (measured in available seat miles) for scheduled service declined 11% from the April 2023 reading. The load factor (percentage of seats filled by passengers) in April 2024 declined to 82.4% from 84.3% a year ago as the traffic decrease was more than the capacity contraction.

Total departures (scheduled services) reduced by 11.2% in April 2024 from a year ago. However, its average stage length (miles) remained unaltered at 911.

For the total system (including scheduled service and fixed fee contract), Allegiant carried 11.8% fewer passengers in April 2024 from the year-ago levels. System-wide capacity contracted 10.3% in April 2024 on a year-over-year basis.

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The fuel price per gallon in April 2024 is estimated to have been $2.99.

Zacks Rank & Key Picks

ALGT currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks from the Zacks Transportation sector are SkyWest (SKYW) and GATX (GATX).

SkyWest currently sports a Zacks Rank #1 (Strong Buy) and has an expected earnings growth rate of 784.4% for the current year. You can see the complete list of today’s Zacks #1 Rank stocks here.

SKYW delivered a trailing four-quarter earnings surprise of 128.1%, on average. Shares of SkyWest have surged 139% in the past year.

GATX currently carries a Zacks Rank #2 (Buy) and has an expected earnings growth rate of 7.64% for the current year.

The company has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters and missed once. The average beat is 7.49%. Shares of GATX have surged 84.4% in the past year.




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