- Reported net income for the third quarter of 2019 under Generally Accepted Accounting Principles (GAAP) of $322 million, or $2.60 per diluted share, compared to net income of $217 million, or $1.75 per diluted share in the third quarter of 2018.
- Reported net income for the third quarter of 2019, excluding merger-related costs and mark-to-market fuel hedge accounting adjustments, of $326 million, or $2.63per diluted share, compared to $237 million or $1.91 per diluted share, in the third quarter of 2018. This quarter's adjusted results compare to the First Call analyst consensus estimate of $2.52 per share.
- Paid a $0.35 per-share cash dividend in the third quarter, a 9% increase over the dividend paid in the third quarter of 2018.
- Repurchased a total of 874,019 shares of common stock for approximately $53 million in the first nine months of 2019.
- Generated $1.4 billion of operating cash flow in the first nine months of 2019.
- Made a voluntary contribution of $65 million to defined benefit pension plans in the third quarter.
- Held $1.6 billion in unrestricted cash and marketable securities as of Sept. 30, 2019.
- Reduced debt-to-capitalization ratio to 42% as of Sept. 30, 2019 compared to 47% as of Dec. 31, 2018.
- Alaska's clerical, office, passenger service, ramp and stores employees, represented by the International Association of Machinists, ratified a new five-year agreement in August.
- Opened a new 15,000+ square foot flagship lounge in the North Satellite at Sea-Tac International Airport in July.
- Reallocated flying to expand offerings between the Pacific Northwest and California, increasing network utility and providing more non-stop service on the West Coast.
- Completed cabin interior renovations of the 25th Airbus aircraft during the third quarter.
- Installed high-speed satellite Wi-Fi on the 54th mainline aircraft.
Recognition and Awards:
- Named "Best U.S. Airline" by Condé Nast Traveler for the second consecutive year.
- Ranked as top U.S. airline in Newsweek's 2020 Best Customer Service awards.
- Mileage Plan ranked first in the U.S. News & World Report's list of Best Airline Rewards Programs for the fifth consecutive year.
- Ranked as the top U.S. airline in the Dow Jones Sustainability Index for the third consecutive year.
- Ranked among Forbes' 2019 global list for "World's Best Employers."
Alaska Air Group Inc. today reported third quarter 2019 GAAP net income of $322 million, or $2.60 per diluted share, compared to $217 million, or $1.75 per diluted share in the third quarter of 2018. Excluding the impact of merger-related costs and mark-to-market fuel hedge adjustments, the company reported adjusted net income of $326 million, or $2.63 per diluted share, compared to $237 million, or $1.91 per diluted share in 2018.
"Our teams at Alaska, Horizon and McGee delivered industry-leading customer service and operational reliability that helped drive strong third quarter results," said Alaska Air Group CEO Brad Tilden. "Our adjusted pretax profit margin of nearly 18% was 3.6 percentage points higher than last year - fueled by our commitment to keep costs low and by the impressive 8% revenue growth that our commercial team delivered. I want to thank our employees for everything they're doing to make Alaska what we are today - and for helping us shape what we're going to be in the future. They are the best in the industry, and I believe these results demonstrate that."