Why Allegiant Travel Stock Is Flying High Today
Allegiant Travel (NASDAQ: ALGT) blew away expectations for the most recent quarter, thanks to the continued strength of the U.S. travel consumer. The stock is gaining altitude as a result, with shares are up 20.57% as of 1:38 p.m. Thursday.
Allegiant posted impressive numbers during the all-important holiday travel season. The airline and hospitality company reported fourth-quarter adjusted earnings of $3.17 per share on revenue of $611.5 million, easily topping analyst expectations of $0.69 per share in earnings on revenue of $578 million.
It's hard to say for sure whether the earnings-per-share number is a perfect comparison to what analysts had been expecting, as the headline number excluded employee recognition bonuses and some charges related to Allegiant's resort under development in Florida. But regardless, the company had a strong operating performance in the quarter.
Source Fool.com
