LAS VEGAS (AP) — LAS VEGAS (AP) — Allegiant Travel Co. (ALGT) on Wednesday reported fourth-quarter net income of $31.9 million, after reporting a loss in the same period a year earlier.
The Las Vegas-based company said it had profit of $1.73 per share. Earnings, adjusted for non-recurring costs, were $2.86 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.
The travel services company posted revenue of $656.2 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $649.8 million.
For the year, the company reported that its loss narrowed to $44.7 million, or $2.48 per share. Revenue was reported as $2.61 billion.
For the current quarter ending in March, Allegiant Travel expects its per-share earnings to range from $2.50 to $3.50.
Allegiant Travel shares have increased 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $100.15, a climb of 1% 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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