Alaska Air Group, Inc. (ALK) stock

ALKNYSEAir Transportation, ScheduledFiscal year ends December 31

Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 5/3050% below fair value

$38.48−0.57 (-1.46%)

Close on Nov 13, 2026Market cap $4.29BP/E –Yield –

Earnings

Alaska Air's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report

Jan 21, 2027

Q4 FY2026 · estimated, during market hours

Revenue, Q2 FY2026

$4.10B

+10.7% on a year earlier

Adjusted loss per share, Q2 FY2026

-$0.92

$1.78 a year earlier

Latest guidance

Issued

Jul 21, 2026 · 2 items

Quarterly results

Revenue and earnings per share from each of Alaska Air's earnings releases, newest first

Quarter	Reported	Revenue	YoY	EPS	Adj. EPS	Source
Q4 FY2026ended Dec 31, 2026	Jan 21, 2027Expected	–	–	–	–	–
Q3 FY2026ended Sep 30, 2026	Oct 20, 2026after the close	–	–	–	–	Filing
Q2 FY2026ended Jun 30, 2026	Jul 21, 2026during market hours	$4.10B	+10.7%	-$0.68	-$0.92	Release
Q1 FY2026ended Mar 31, 2026	Apr 20, 2026during market hours	$3.30B	+5.2%	-$1.69	-$1.68	Release
Q4 FY2025ended Dec 31, 2025	Jan 22, 2026during market hours	$3.60B	+1.9%	$0.18	$0.43	Release
Q3 FY2025ended Sep 30, 2025	Oct 24, 2025during market hours	$3.80B	+23.7%	$0.62	$1.05	Release
Q2 FY2025ended Jun 30, 2025	Jul 23, 2025during market hours	$3.70B	+27.9%	$1.42	$1.78	Release
Q1 FY2025ended Mar 31, 2025	Apr 23, 2025during market hours	$3.14B	+42.6%	-$1.35	-$0.77	Release
Q4 FY2024ended Dec 31, 2024	Jan 22, 2025during market hours	$3.53B	+35.9%	$0.55	$0.97	Release
Q3 FY2024ended Sep 30, 2024	Oct 31, 2024before the open	$3.07B	+9.7%	$1.84	–	Release
Q2 FY2024ended Jun 30, 2024	Jul 17, 2024during market hours	$2.90B	+3.5%	$1.71	$2.55	Release
Q1 FY2024ended Mar 31, 2024	Apr 18, 2024after the close	$2.20B	+0.2%	-$1.05	-$0.92	Release
Q4 FY2023ended Dec 31, 2023	Jan 25, 2024after the close	$2.60B	+4.0%	-$0.02	$0.30	Release
Q3 FY2023ended Sep 30, 2023	Oct 19, 2023after the close	$2.80B	0.0%	$1.08	$1.83	Release
Q2 FY2023ended Jun 30, 2023	Jul 25, 2023after the close	$2.80B	+3.7%	$1.86	$3.00	Release
Q1 FY2023ended Mar 31, 2023	Apr 20, 2023after the close	$2.20B	+30.6%	-$1.11	-$0.62	Release
Q4 FY2022ended Dec 31, 2022	Jan 26, 2023during market hours	$2.50B	+31.6%	$0.17	$0.92	Release
Q3 FY2022ended Sep 30, 2022	Oct 20, 2022after the close	$2.80B	+43.4%	$0.31	$2.53	Release
Q2 FY2022ended Jun 30, 2022	Jul 21, 2022after the close	$2.70B	–	$1.09	$2.19	Release
Q1 FY2022ended Mar 31, 2022	Apr 21, 2022before the open	$1.68B	–	-$1.14	-$1.33	Release
Q4 FY2021ended Dec 31, 2021	Jan 27, 2022during market hours	$1.90B	–	$0.14	$0.24	Release
Q3 FY2021ended Sep 30, 2021	Oct 21, 2021after the close	$1.95B	–	$1.53	$1.47	Release
Q2 FY2021ended Jun 30, 2021	Jul 22, 2021after the close	–	–	–	–	Filing
Q1 FY2021ended Mar 31, 2021	Apr 22, 2021during market hours	–	–	–	–	Filing
Q4 FY2020ended Dec 31, 2020	Jan 26, 2021before the open	–	–	–	–	Filing
Q3 FY2020ended Sep 30, 2020	Oct 22, 2020during market hours	–	–	–	–	Filing

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

Alaska Air's latest outlook for periods it has not reported yet, compared with what it said before

Metric	Period	Guidance	Before	Change	Given
Capacity (ASMs) % change versus 2025non-GAAP	Q3 FY2026	+2% – +3%	–	New	Jul 21, 2026
Economic fuel cost per gallon	Q3 FY2026	$4	–	New	Jul 21, 2026
Adjusted earnings (loss) per sharenon-GAAP	FY2026	$3.50 – $6.50	–	New	Jan 22, 2026
Capital Expenditures	FY2026	$1.40B – $1.50B	–	New	Jan 22, 2026
adjusted tax ratenon-GAAP	FY2026	26% – 27%	–	New	Jan 22, 2026
Capacity (ASMs) % change versus 2025	FY2026	+2% – +3%	–	New	Jan 22, 2026

Guidance vs results

The last range Alaska Air gave before each report, against the figure it then reported. Full years add up the four quarters.

Period	Metric	Guidance	Actual	Result
Q2 FY2026	adjusted loss per share	-$1.00	-$0.92	Above range
Q1 FY2026	Adjusted earnings (loss) per share	-$1.50 – -$0.50	-$1.68	Below range
FY2025	Adjusted earnings per share	$2.40	$2.49Σ4Q	Above range
Q4 FY2025	Adjusted earnings per share	$0.40	$0.43	Above range
Q3 FY2025	adjusted earnings per share	$1.00 – $1.40	$1.05	Within range
Q2 FY2025	Adjusted earnings per share	$1.15 – $1.65	$1.78	Above range
Q1 FY2025	Adjusted earnings (loss) per share	-$0.70 – -$0.50	-$0.77	Below range
Q4 FY2024	Adjusted earnings per share (a)	$0.20 – $0.40	$0.97	Above range
Q2 FY2024	Earnings per share (a)	$2.20 – $2.40	$2.55	Above range
Q4 FY2023	Revenue growth	+1% – +4%	+4%	Within range
Q3 FY2023	Revenue growth	0% – +3%	0%	Within range
Q2 FY2023	Revenue growth	+2.5% – +5.5%	+3.7%	Within range
Q4 FY2022	Revenue growth	+12% – +15%	+31.65%	Above range
Q3 FY2022	Revenue growth	+16% – +19%	+43.37%	Above range

Guidance history

Every forecast Alaska Air put in an earnings release, newest first

Given	Metric	Period	Guidance	Change
Jul 21, 2026	Capacity (ASMs) % change versus 2025	Q3 FY2026	+2% – +3%	New
Jul 21, 2026	Economic fuel cost per gallon	Q3 FY2026	$4	New
Apr 20, 2026	adjusted loss per share	Q2 FY2026	-$1.00	New
Apr 20, 2026	capacity	Q2 FY2026	+1%	New
Jan 22, 2026	Capital Expenditures	FY2026	$1.40B – $1.50B	New
Jan 22, 2026	Adjusted earnings (loss) per share	FY2026	$3.50 – $6.50	New
Jan 22, 2026	Adjusted earnings (loss) per share	Q1 FY2026	-$1.50 – -$0.50	New
Jan 22, 2026	adjusted tax rate	FY2026	26% – 27%	New
Jan 22, 2026	Capacity (ASMs) % change versus 2025	FY2026	+2% – +3%	New
Jan 22, 2026	adjusted tax rate	Q1 FY2026	29%	New
Jan 22, 2026	Capacity (ASMs) % change versus 2025	Q1 FY2026	+1% – +2%	New
Oct 23, 2025	Adjusted earnings per share	FY2025	$2.40	New
Oct 23, 2025	Adjusted earnings per share	Q4 FY2025	$0.40	New
Oct 23, 2025	Capacity (ASMs) % change versus pro forma 2024	Q4 FY2025	+2% – +3%	New
Jul 23, 2025	adjusted earnings per share	Q3 FY2025	$1.00 – $1.40	New
Jul 23, 2025	earnings per share	FY2025	$3.25	New
Apr 23, 2025	Adjusted earnings per share	Q2 FY2025	$1.15 – $1.65	New
Jan 22, 2025	Adjusted earnings (loss) per share	Q1 FY2025	-$0.70 – -$0.50	New
Jan 22, 2025	Adjusted earnings (loss) per share	FY2025	$5.75	New
Jan 22, 2025	Capacity (ASMs) % change versus pro forma 2024	Q1 FY2025	+2.5% – +3.5%	New
Jan 22, 2025	Capacity (ASMs) % change versus pro forma 2024	FY2025	+2% – +3%	New
Oct 31, 2024	capital expenditures	FY2024	$1.20B – $1.30B	Reaffirmed
Oct 31, 2024	Adjusted earnings per share (a)	Q4 FY2024	$0.20 – $0.40	New
Oct 31, 2024	Capacity (ASMs) % change versus 2023	Q4 FY2024	+1.5% – +2.5%	New
Oct 31, 2024	Economic fuel cost per gallon	Q4 FY2024	$3 – $3	New
Apr 18, 2024	Capital expenditures	FY2024	$1.20B – $1.30B	New
Apr 18, 2024	Earnings per share (a)	Q2 FY2024	$2.20 – $2.40	New
Apr 18, 2024	Earnings per share (a)	FY2024	$3.25 – $5.25	New
Apr 18, 2024	Capacity (ASMs) % change versus 2023	Q2 FY2024	+5% – +7%	New
Apr 18, 2024	Economic fuel cost per gallon	Q2 FY2024	$3 – $3	New
Apr 18, 2024	Capacity (ASMs) % change versus 2023	FY2024	+3%	New
Oct 19, 2023	Capital expenditures	FY2023	$1.70B	Lowered
Oct 19, 2023	Earnings per share (a)	FY2023	$4.25 – $4.75	Lowered
Oct 19, 2023	Adjusted pretax margin %	Q4 FY2023	0% – 2%	New
Oct 19, 2023	Cost per ASM excluding fuel and special items (CASMex) % change versus 2022	Q4 FY2023	+3% – +5%	New
Oct 19, 2023	Economic fuel cost per gallon	Q4 FY2023	$3 – $3	New
Oct 19, 2023	Adjusted pretax margin %	FY2023	7% – 8%	Lowered
Oct 19, 2023	Capacity (ASMs) % change versus 2022	FY2023	+12% – +13%	Raised
Oct 19, 2023	Cost per ASM excluding fuel and special items (CASMex) % change versus 2022	FY2023	+1% – +2%	Lowered
Oct 19, 2023	Capacity (ASMs) % change versus 2022	Q4 FY2023	+11% – +14%	New
Oct 19, 2023	Total revenue % change versus 2022	FY2023	+7% – +8%	Lowered
Oct 19, 2023	Total revenue % change versus 2022	Q4 FY2023	+1% – +4%	New
Jul 25, 2023	Capital expenditures	FY2023	$1.80B	New
Jul 25, 2023	Earnings per share (a)	FY2023	$5.50 – $7.50	Reaffirmed
Jul 25, 2023	Adjusted pre-tax margin %	Q3 FY2023	14% – 16%	New
Jul 25, 2023	Capacity (ASMs) % change versus 2022	Q3 FY2023	+10% – +13%	New
Jul 25, 2023	Cost per ASM excluding fuel and special items (CASMex) % change versus 2022	Q3 FY2023	0% – +2%	New
Jul 25, 2023	Economic fuel cost per gallon	Q3 FY2023	$3 – $3	New
Jul 25, 2023	Adjusted pre-tax margin %	FY2023	9% – 12%	Reaffirmed
Jul 25, 2023	Capacity (ASMs) % change versus 2022	FY2023	+11% – +13%	New
Jul 25, 2023	Cost per ASM excluding fuel and special items (CASMex) % change versus 2022	FY2023	+1% – +3%	New
Jul 25, 2023	Total revenue % change versus 2022	Q3 FY2023	0% – +3%	New
Jul 25, 2023	Total revenue % change versus 2022	FY2023	+8% – +10%	New
Apr 20, 2023	earnings per share	FY2023	$5.50 – $7.50	New
Apr 20, 2023	Adjusted pre-tax margin %	Q2 FY2023	14% – 17%	New
Apr 20, 2023	Capacity (ASMs) % change versus 2022	Q2 FY2023	+6% – +9%	New
Apr 20, 2023	Cost per ASM excluding fuel and special items (CASMex) % change versus 2022	Q2 FY2023	+1% – +3%	New
Apr 20, 2023	Economic fuel cost per gallon	Q2 FY2023	$3 – $3	New
Apr 20, 2023	tax rate	FY2023	25%	New
Apr 20, 2023	adjusted pre-tax margins	FY2023	9% – 12%	New
Apr 20, 2023	Total revenue % change versus 2022	Q2 FY2023	+2.5% – +5.5%	New
Oct 20, 2022	Capital Expenditures	FY2022	$1.50B	New
Oct 20, 2022	Passenger load factor	Q4 FY2022	83% – 86%	New
Oct 20, 2022	Capacity (ASMs) % change versus 2019	Q4 FY2022	-10% – -7%	New
Oct 20, 2022	Cost per ASM excluding fuel and special items (CASMex) % change versus 2019	Q4 FY2022	+20% – +23%	New
Oct 20, 2022	Non-operating expense (benefit)	Q4 FY2022	-$5.00M – -$3.00M	New
Oct 20, 2022	Economic fuel cost per gallon	Q4 FY2022	$4 – $4	New
Oct 20, 2022	Adjusted Pre-tax margin	FY2022	6% – 9%	Reaffirmed
Oct 20, 2022	Capacity (ASMs) % change versus 2019	FY2022	-9% – -8%	Lowered
Oct 20, 2022	Cost per ASM excluding fuel and special items (CASMex) % change versus 2019	FY2022	+19% – +20%	Raised
Oct 20, 2022	Total revenue % change versus 2019	Q4 FY2022	+12% – +15%	New
Jul 21, 2022	Passenger load factor	Q3 FY2022	85% – 88%	New
Jul 21, 2022	Adjusted tax rate	Q3 FY2022	24% – 25%	New
Jul 21, 2022	Capacity (ASMs) % change versus 2019 (a)	Q3 FY2022	+5% – +8%	New
Jul 21, 2022	Revenue passengers % change versus 2019 (a)	Q3 FY2022	+8% – +10%	Raised
Jul 21, 2022	Cost per ASM excluding fuel and special items (CASMex) % change versus 2019 (a)	Q3 FY2022	+16% – +19%	New
Jul 21, 2022	Non-operating expense	Q3 FY2022	$2.00M – $4.00M	New
Jul 21, 2022	Economic fuel cost per gallon	Q3 FY2022	$4 – $4	New
Jul 21, 2022	adjusted pre-tax margin	FY2022	6% – 9%	Reaffirmed
Jul 21, 2022	capacity	FY2022	+8% – +9%	New
Jul 21, 2022	CASMex	FY2022	+15% – +17%	Raised
Jul 21, 2022	Total revenue % change versus 2019 (a)	Q3 FY2022	+16% – +19%	New
Apr 21, 2022	Passenger load factor	Q2 FY2022	85% – 88%	New
Apr 21, 2022	Adjusted tax rate	Q2 FY2022	24% – 25%	New
Apr 21, 2022	Capacity (ASMs) % change versus 2019	Q2 FY2022	-9% – -6%	New
Apr 21, 2022	Revenue passengers % change versus 2019	Q2 FY2022	-12% – -10%	Lowered
Apr 21, 2022	Cost per ASM excluding fuel and special items (CASMex) % change versus 2019	Q2 FY2022	+16% – +19%	New
Apr 21, 2022	Non-operating expense	Q2 FY2022	$7.00M – $9.00M	New
Apr 21, 2022	Economic fuel cost per gallon	Q2 FY2022	$3 – $3	New
Apr 21, 2022	adjusted pre-tax margins	FY2022	6% – 9%	New
Apr 21, 2022	CASMex	FY2022	+6% – +8%	New
Apr 21, 2022	Total revenue % change versus 2019	Q2 FY2022	+5% – +8%	New

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.