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Second quarter 2022 GAAP diluted earnings per share of $0.24
Second quarter 2022 diluted earnings per share, excluding recognition bonus(1) of $0.62(1)(2)
LAS VEGAS, August 3, 2022 /PRNewswire/ — Allegiant Travel Company (NASDAQ: ALGT) today reported the following financial results for the second quarter 2022, as well as comparisons to prior years:
| Consolidated | Three Months Ended June 30, | Percent Change | |||||||
| (unaudited) (in millions, except per share amounts) | 2022 | 2021 | 2019 | YoY | Yo3Y | ||||
| Total operating revenue | $ 629.8 | $ 472.4 | $ 491.8 | 33.3 % | 28.1 % | ||||
| Total operating expense | 603.7 | 333.6 | 383.7 | 81.0 | 57.4 | ||||
| Operating income | 26.1 | 138.9 | 108.1 | (81.2) | (75.8) | ||||
| Income before income taxes | 5.8 | 122.6 | 91.8 | (95.2) | (93.6) | ||||
| Net income | 4.4 | 95.0 | 70.5 | (95.4) | (93.8) | ||||
| Diluted earnings per share | $ 0.24 | $ 5.49 | $ 4.33 | (95.6) | (94.5) | ||||
| Six Months Ended June 30, | Percent Change | ||||||||
| (unaudited) (in millions, except per share amounts) | 2022 | 2021 | 2019 | YoY | Yo3Y | ||||
| Total operating revenue | $ 1,130.0 | $ 751.6 | $ 943.4 | 50.3 % | 19.8 % | ||||
| Total operating expense | 1,096.6 | 588.1 | 744.2 | 86.5 | 47.4 | ||||
| Operating income | 33.4 | 163.5 | 199.2 | (79.6) | (83.3) | ||||
| Income (loss) before income taxes | (4.7) | 131.2 | 165.7 | (103.6) | (102.9) | ||||
| Net income (loss) | (3.5) | 101.9 | 127.7 | (103.5) | (102.8) | ||||
| Diluted earnings (loss) per share | $ (0.20) | $ 6.04 | $ 7.84 | (103.3) | (102.6) | ||||
| (1) | Recognition bonus awarded despite not meeting internal profit-sharing targets |
| (2) | Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information |
“Demand surged in the second quarter resulting in the highest revenue-generating quarter in company history,” stated John Redmond, CEO of Allegiant Travel Company. “Total operating…
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