LAS VEGAS (AP) — LAS VEGAS (AP) — Allegiant Travel Co. (ALGT) on Tuesday reported first-quarter net income of $32.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Las Vegas-based company said it had net income of $1.73. Earnings, adjusted for one-time gains and costs, were $1.81 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The travel services company posted revenue of $699.1 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $690.3 million.
Allegiant Travel shares have fallen 47% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $49.44, a decline of 12% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALGT at https://www.zacks.com/ap/ALGT
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