ALASKA AIR GROUP (ALK) Company Report

ALK delivered 18% global organic revenue growth, reaching DKK 1,530 million, and saw its operating profit (EBIT) increase by 41% to DKK 423 million in Q3 2025, resulting in an EBIT margin of 28%.
The company upgraded its full-year 2025 outlook, now projecting revenue growth of 13-15% in local currencies (previously 12-14%) and an EBIT margin of approximately 26% (previously 25%).
Key growth drivers included 17% growth in tablet sales and 42% growth in other products and services, primarily fueled by higher Jext® sales within the anaphylaxis portfolio.
Strategic advancements include the successful paediatric roll-out of house dust mite and tree pollen allergy tablets, the launch of the EUR neffy® nasal adrenaline spray in the UK, and a US FDA Fast Track designation for the peanut SLIT-tablet development program.

Nov 12, 2025, 4:22 PM

Press Release

Alaska Air Group Achieves Single Operating Certificate for Alaska and Hawaiian Airlines

ALK

M&A

Management Change

New Projects/Investments

Alaska Airlines received a single operating certificate (SOC) from the Federal Aviation Administration today, October 29, 2025, allowing it to operate alongside Hawaiian Airlines as two separate brands, a milestone achieved just over a year after their combination.
The SOC marks the successful integration of training, policies, procedures, and manuals across both airlines and is a precursor to further integration, including a move to a single passenger service system (PSS) next spring (April), after which all flights will carry the AS code.
Diana Birkett Rakow has been appointed CEO of Hawaiian Airlines, with Jim Landers assuming the role of head of Hawai'i operations and Shelly Parker becoming head of Hawai'i guest operations.
Hawaiian Airlines is scheduled to join the oneworld alliance in spring 2026.

Oct 29, 2025, 10:30 AM

Press Release

Alkane Resources Reports Q1 FY26 Results and Merger Completion

ALK

Earnings

M&A

Guidance Update

Alkane Resources Limited reported a site operating cash flow of A$73 million for the quarter ending September 30, 2025 (Q1 FY26), with revenue of A$147 million from gold equivalent sales of 30,010 ounces.
The company achieved record gold production of 30,511 AuEq oz at an All-In Sustaining Cost (AISC) of A$2,988/AuEq oz for the statutory reporting period, and 36,407 AuEq oz at an AISC of A$3,036/AuEq oz for the full quarter across all operations.
Alkane maintains its Full Year Group Guidance for FY2026 of 160-175kozs AuEq at an AISC of A$2,600-2,900/AuEq oz.
The merger with Mandalay Resources Corporation was completed on August 5, 2025, and the company ended the quarter with a cash, bullion, and listed investment balance of A$191 million after repaying A$45 million in debt and incurring A$25 million in one-off merger costs.
Significant exploration results were reported, including 11.7g/t gold and 6.5% antimony over 4.88m at True Blue (Costerfield) and 8.2m @ 3.74g/t gold at El Paso (Tomingley).

Oct 29, 2025, 1:06 AM

Press Release

Alaska Airlines Announces 13 New Routes and Network Expansion

ALK

New Projects/Investments

Alaska Airlines is introducing 13 new nonstop routes beginning next spring, expanding its network from key hubs in San Diego and Portland.
The expansion includes two new destinations, Tulsa, Oklahoma, and Arcata-Eureka, California, which will bring the total number of destinations served by Alaska Air Group in 2026 to 142.
The company is deepening its commitment to Hawai'i with a new Honolulu-Burbank route and increased flights from San Francisco and Los Angeles to the Islands.
San Diego is projected to grow by more than 35% in spring 2026 compared to spring 2025, solidifying its position as Alaska Airlines' fastest-growing hub.

Oct 27, 2025, 4:47 PM

Press Release

Alaska Air Group Reports Mixed Q3 2025 Results, Lowers Profit Outlook

ALK

Earnings

Guidance Update

Profit Warning

Alaska Air Group reported its highest-ever quarterly revenue of $3.77 billion for Q3 2025, but missed earnings per share at $1.05.
The company experienced operational disruptions due to IT outages, which temporarily halted operations across all airports and affected its unit Horizon Air.
Consequently, Alaska Air Group lowered its annual adjusted profit per share forecast from over $3.25 to at least $2.40.
Despite revenue growth, the net margin for Q3 2025 was 2.33%, significantly lower than its historical median of 6.52%.
Analysts maintain a positive outlook, with a median price target implying a 23% upside for the stock.

Oct 24, 2025, 5:15 AM

CNBC

Alaska Air Group Reports Q3 2025 Results and Provides Outlook

ALK

Earnings

Guidance Update

Share Buyback

Alaska Air Group reported Q3 2025 adjusted earnings per share of $1.05 and a GAAP net income per share of $0.62, with record revenue of $3.8 billion and an adjusted pretax margin of 4.6%.
The company saw a 1.4% year-over-year increase in unit revenue (RASM) and an 8.6% increase in unit costs (CASMex) for Q3 2025 on a pro forma basis.
For Q4 2025, adjusted earnings per share are expected to be at least $0.40, with the full year 2025 adjusted earnings per share projected at least $2.40. The company also reiterated its $10 earnings per share goal for 2027.
The company repurchased 10.6 million shares for approximately $540 million during the nine months ended September 30, 2025, and maintained a strong balance sheet with a debt-to-capitalization ratio of 60% and adjusted net debt to EBITDAR of 2.6x as of September 30, 2025.

Oct 23, 2025, 10:23 PM

8-K

Alaska Air Group Lowers Q3 Earnings Outlook

ALK

Guidance Update

Profit Warning

Alaska Air Group has lowered its third-quarter earnings per share forecast to the low end of its $1.00 to $1.40 guidance.
This revision is primarily attributed to rising fuel costs, now expected to reach up to $2.55 per gallon, and operational challenges including an IT outage that will reduce EPS by approximately $0.10.
Despite these headwinds, the company is experiencing strong revenue growth driven by increased demand for premium seats and corporate travel, with unit revenue tracking near the high end of its forecast and positive yield growth year-over-year.
Analysts maintain an overall "Outperform" rating, though concerns about elevated leverage, valuation, and operational risks temper the longer-term outlook.

Sep 15, 2025, 10:43 AM

Bloomberg

ALK upgrades full-year financial outlook

ALK

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

ALK has upgraded its 2025 full-year financial outlook.
The company now expects revenue to grow by 12-14% in local currencies, an increase from the previously projected 9-13% growth.
The operating profit (EBIT) margin is still anticipated to improve by 5 percentage points to 25%.
This upgrade is primarily driven by higher-than-expected revenue in Europe in Q2, positive momentum from adrenaline autoinjector sales and tablets, and reduced market risks.
Preliminary Q2 results show total revenue grew by 12% in local currencies to DKK 1,527 million, and EBIT increased by 41% in local currencies to DKK 375 million, achieving an EBIT margin of 25%.

Aug 12, 2025, 12:45 PM

Press Release

Alaska Air Group Reports Strong Q2 2025 Results and Updates Full-Year Guidance

ALK

Earnings

Guidance Update

Share Buyback

Alaska Air Group reported record Q2 2025 revenues of $3.7 billion, up 2% year-over-year, with earnings per share of $1.78.
The company expects to deliver at least $3.25 in adjusted earnings per share for the full year 2025, with Q3 2025 adjusted EPS projected between $1.00 and $1.04.
Management remains confident in achieving its target of $10 in earnings per share by 2027, driven by the Alaska Accelerate plan which aims for $1 billion in incremental profit over the next two years.
The company repurchased $428 million in shares during Q2 2025, bringing the year-to-date total to $535 million.
Demand has stabilized with positive momentum since late June, leading to adjustments in capacity, with Q3 capacity expected to be down about 1% and full-year growth around 2%.

Jul 25, 2025, 3:55 AM

Alaska Air Group: Conference Call Highlights

ALK

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Operational stability and demand strength were emphasized, with strong booking volumes including the largest booking week since March and solid performance in rebanking at Seattle and growing connecting itineraries in Portland (e.g., 200% increase).
Key loyalty initiatives were outlined, targeting a net incremental profit of $150 million by 2027 through program enhancements, premium card launches, and integration of legacy networks (including Hawaiian) to boost loyalty revenue from 15% upward.
Fleet and premium service improvements were discussed, noting ongoing aircraft retrofits (with current premium seat mix near 26% and potential increases to 30%+) along with positive developments in Boeing narrow-body and 787 deliveries supporting future premium offerings.

May 15, 2025, 12:01 PM

Transcript

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