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Allegiant Travel Company (ALGT) investor relations material
Allegiant Travel Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Exceeded expectations in 2025 with strong leisure demand, disciplined cost execution, and a flexible, low-utilization model, despite higher fuel costs.
Achieved industry-leading operational reliability, with a 99.9% controllable completion rate and top external rankings for cancellations, baggage handling, and involuntary bumps.
Integrated 737 MAX aircraft, modernized technology platforms, and advanced commercial initiatives, supporting structural improvements and cost reductions.
Strengthened financial position through cost discipline, Sunseeker sale, and debt reduction, lowering net leverage to 2.3x.
Announced agreement to acquire Sun Country Airlines, aiming to accelerate growth as a leading U.S. leisure carrier.
Financial highlights
Fourth quarter 2025 net income of $50.1M (adjusted airline-only EPS $2.72); full-year adjusted airline-only net income of $93.8M (EPS $5.07), and adjusted consolidated net income of $70.3M (EPS $3.80).
Q4 2025 total operating revenue was $656M–$656.2M, up 7.6% year-over-year; full-year airline-only revenue was $2.5B–$2.55B, up 4.3%.
Q4 adjusted airline-only EBITDA was $143M (21.8% margin); full-year adjusted airline-only EBITDA was $428M (16.8% margin).
Non-fuel unit costs (CASMex) were 8.01¢ in Q4 2025, a 3.4% YoY improvement; FY25 CASMex was 8.04¢, a 6.1% YoY improvement.
Ended 2025 with $1.1B in liquidity, $838.5M in cash/investments, and total debt just under $1.8B.
Outlook and guidance
Full-year 2026 adjusted EPS expected to exceed $8, a 60% increase year-over-year; Q1 2026 EPS guidance is $2.50–$3.50 with a 13.5% operating margin.
FY26 system ASMs expected to be flat (-0.5% YoY); no fleet growth planned for 2026 due to aircraft delivery timing.
Full-year 2026 capital expenditures estimated at $750M, with $580M for aircraft, $85M for deferred heavy maintenance, and $85M for other capex.
Guidance excludes impact from Sun Country acquisition, expected to close in the second half of 2026.
Guidance reflects conservative assumptions due to macroeconomic uncertainty and recent winter storm impacts.
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