ALLEGIANT TRAVEL COMPANY FIRST QUARTER 2026 FINANCIAL RESULTS

First quarter 2026 GAAP diluted earnings per share of $2.30

First quarter 2026 adjusted diluted earnings per share of $3.77⁽¹⁾⁽²⁾, up 78.7 p.c year-over-year

LAS VEGAS, April 30, 2026 /PRNewswire/ — Allegiant Travel Company (NASDAQ: ALGT) as we speak reported the under monetary outcomes for first quarter 2026, in addition to comparisons to the prior 12 months.

“We had a great start to the year, delivering another quarter of strong operational and financial results,” acknowledged Gregory Anderson, chief govt officer of Allegiant Travel Company. “Customer service continues to be a prime precedence, and I’m happy to report the staff as soon as once more achieved a controllable completion charge exceeding 99.9%. We know that after we function effectively, we carry out effectively, and that’s evidenced by our first-quarter adjusted working margin of 14.9 p.c, which marked greater than a five-point enchancment year-over-year and the very best first quarter stage since COVID. We consider it is going to be the very best amongst U.S. airways.

“First-quarter demand was distinctive, notably throughout peak durations, driving greater than a 16 p.c year-over-year enhance in TRASM, with whole yields up over 20 p.c year-over-year. That efficiency allowed us to set an all-time quarterly file regardless of a 5.9 p.c year-over-year discount in capability. We are happy to see our business initiatives taking maintain and contributing to our outcomes, together with an 8.9 p.c enhance in co-brand remuneration in comparison with the prior 12 months.

“As we transfer into the second quarter, leisure demand stays wholesome regardless of geopolitical dynamics which have impacted the broader economic system. We have proactively diminished capability throughout off-peak occasions and shortened common stage lengths as we navigate the upper gasoline setting. We now count on second-quarter capability to be down 6.5 p.c year-over-year. A core tenet of our long-term success is flexing our capability to give attention to profitability over utilization. We are assured that the power of our enterprise mannequin and powerful monetary place will enable us to navigate this elevated gasoline setting in addition to any airline in our sector.

“With regulatory approvals now behind us, and pending shareholder approvals, we expect to close on the acquisition of Sun Country by as early as mid-May. Closing in just over four months after announcement highlights the agility and capabilities of the company. We look forward to combining our complementary networks, advancing our commitment to connect our travelers with attractive destinations, and delivering a stronger, more valuable airline for our shareholders. This combination should extend our leadership position in the value segment of the industry. We are excited about what’s ahead.”

First Quarter 2026 Results and Highlights

• Record first quarter whole working income⁽³⁾ of $732.4M, up 9.6 p.c year-over-year
  • Fixed price income of $18.1M, up 11.5 p.c year-over-year
  • TRASM up 16.4 p.c year-over-year
• Adjusted working revenue,^(1)(2)(3) of $108.9M, yielding an adjusted working margin of 14.9 p.c, a greater than  five-percentage-point enchancment over the prior 12 months
• Adjusted revenue earlier than revenue tax,^(1)(2)(3) of $93.8M, yielding an adjusted pre-tax margin of 12.8 p.c
• Adjusted EBITDA,^(1)(2)(3) of $168.0M, yielding an adjusted EBITDA margin of twenty-two.9 p.c
• Adjusted working CASM, excluding gasoline⁽²⁾⁽³⁾ of 8.64 ¢, up 7.1 p.c year-over-year
  • System capability down 5.9 p.c year-over-year
• Available seat miles per gallon of gasoline of 86.7, up 1.2 p.c year-over-year
• $39.3M in whole cobrand bank card remuneration obtained, up 8.9 p.c year-over-year

Balance Sheet, Cash and Liquidity

• Total out there liquidity at March 31, 2026 was $1.2B, which included $933.5M in money and investments and $250.0M in undrawn revolving credit score services
• $268.1M in money from operations throughout first quarter 2026, a quarterly file
• Total debt at March 31, 2026 was $1.8B
  • Net debt at March 31, 2026 was $858.3M
• Debt principal funds of $29.4M throughout the quarter
• Air site visitors legal responsibility at March 31, 2026 was $488.8M

Capital Expenditures

• First quarter capital expenditures of $175.9M, which included $155.4M for aircraft-related capital expenditures and $20.5M in different capital expenditures
• First quarter deferred heavy upkeep expenditures had been $11.0M

Guidance, topic to revision

Certain forward-looking monetary info within the following tables will not be offered in accordance with accounting ideas usually accepted within the U.S. (“GAAP”). Non-GAAP monetary figures could also be helpful to stakeholders, however shouldn’t be thought-about an alternative to GAAP figures. In reliance on the ‘unreasonable efforts’ exception in Item 10(e)(1)(i)(B) of SEC Regulation S-Okay, a reconciliation to probably the most comparable GAAP monetary measure will not be offered for adjusted earnings per share and adjusted working margin within the desk under. The Company will not be capable of reconcile these Non-GAAP monetary figures with out unreasonable effort as a result of the particular cost changes is not going to be identified till the top of the indicated future durations and any vary of projected values could be too broad to be significant. As a consequence, this info wouldn’t be important to buyers.

The under steering is for Allegiant on a stand-alone foundation and excludes any contribution from our deliberate acquisition of Sun Country

Aircraft Fleet Plan by End of Period

The desk above is administration’s greatest estimate and is offered based mostly on the Company’s present plans and is topic to alter. The numbers embrace plane anticipated to be in service on the finish of every interval and exclude each plane that we count on to take supply of however to not be positioned in service till a subsequent interval in addition to plane in momentary storage.

Allegiant Travel Company will host a convention name with analysts at 4:30 p.m. ET Thursday, April 30, 2026 to debate its first quarter 2026 monetary outcomes. A reside broadcast of the convention name shall be out there through the Company’s Investor Relations web site homepage at http://ir.allegiantair.com. The webcast can even be archived within the “Events & Presentations” part of the web site.

Allegiant Travel Company

Las Vegas-based Allegiant (NASDAQ: ALGT) is an built-in journey firm with an airline at its coronary heart, targeted on connecting clients with the folks, locations and experiences that matter most. Since 1999, Allegiant Air has linked vacationers in underserved cities to world-class trip locations with all-nonstop flights and industry-low common fares. Today, Allegiant serves communities throughout the nation, with base airfares lower than half the price of the common home spherical journey ticket. For extra info, go to us at Allegiant.com. Media info, together with images, is on the market at http://gofly.us/iiFa303wrtF.

Media Inquiries: [email protected] 

Investor Inquiries: [email protected] 

Under the protected harbor provisions of the Private Securities Litigation Reform Act of 1995, statements on this press launch that aren’t historic information are forward-looking statements. These forward-looking statements are solely estimates or predictions based mostly on our administration’s beliefs and assumptions and on info presently out there to our administration. Forward-looking statements embrace our statements relating to the introduced merger with Sun Country Airlines, future airline operations, income, bills and earnings, out there seat mile progress, anticipated capital expenditures, the price of gasoline, the timing of plane acquisitions and retirements, the variety of contracted plane to be positioned in service sooner or later, our potential to consummate introduced plane transactions, estimated tax charge, in addition to different info regarding future outcomes of operations, enterprise methods, financing plans, {industry} setting and potential progress alternatives. Forward-looking statements embrace all statements that aren’t historic information and could be recognized by way of forward-looking terminology such because the phrases “believe,” “expect,” “guidance,” “anticipate,” “intend,” “plan,” “estimate”, “project”, “hope” or comparable expressions.

Forward-looking statements contain dangers, uncertainties and assumptions. Actual outcomes might differ materially from these expressed within the forward-looking statements. Important threat elements that would trigger our outcomes to vary materially from these expressed within the forward-looking statements usually could also be present in our periodic experiences filed with the Securities and Exchange Commission at www.sec.gov. These threat elements embrace, with out limitation, regulatory critiques of, and manufacturing limits on, Boeing impacting our plane supply schedule, an accident involving, or issues with, our plane, public notion of our security, our reliance on our automated programs, our reliance on Boeing to ship plane underneath contract to us on a well timed foundation, threat of breach of safety of non-public knowledge, volatility of gasoline prices, labor points and prices, the flexibility to acquire regulatory approvals as wanted in reference to our fleet and community, the impact of financial circumstances on leisure journey, debt covenants and balances, the affect of presidency laws on the airline {industry}, the flexibility to finance plane to be acquired, the flexibility to acquire obligatory authorities approvals to arrange to supply worldwide service, terrorist assaults, dangers inherent to airways, our aggressive setting, our reliance on third events who present services or companies to us, the affect of the doable lack of key personnel, financial and different circumstances in markets by which we function, will increase in upkeep prices and availability of outdoor upkeep contractors to carry out wanted work on our plane on a well timed foundation and at acceptable charges, cyclical and seasonal fluctuations in our working outcomes, and the perceived acceptability of our environmental, social and governance efforts, the prevalence of any occasion, change or different circumstance that would give rise to the proper of 1 or each of Allegiant or Sun Country to terminate the definitive merger settlement for the Sun Country acquisition; the chance that potential authorized proceedings could also be instituted in opposition to Allegiant or Sun Country and end in important prices of protection, indemnification or legal responsibility; the likelihood that the Sun Country acquisition doesn’t shut when anticipated or in any respect as a result of required stockholder approvals or different circumstances to closing will not be obtained or glad on a well timed foundation or in any respect (and the chance that regulatory approvals might consequence within the imposition of circumstances that would adversely have an effect on the mixed firm or the anticipated advantages of the proposed transaction); the chance that the mixed firm is not going to notice anticipated advantages, value financial savings, accretion, synergies and/or progress from the Sun Country acquisition or that any of the foregoing might take longer to understand or be extra expensive to attain than anticipated; disruption to the events’ companies because of the announcement and pendency of the Sun Country acquisition; the prices related to the anticipated size of time of the pendency of the Sun Country acquisition, together with the restrictions contained within the definitive merger settlement on the flexibility of every of Sun Country and Allegiant to function their respective companies exterior the peculiar course according to previous apply throughout the pendency of the Sun Country acquisition; the diversion of Allegiant’s and Sun Country’s respective administration groups’ consideration and time from ongoing enterprise operations and alternatives on acquisition-related issues; the chance that the mixing of Sun Country’s operations shall be materially delayed or shall be extra expensive or troublesome than anticipated or that Allegiant is in any other case unable to efficiently combine Sun Country’s companies into its companies; the likelihood that the Sun Country acquisition could also be costlier to finish than anticipated, together with because of sudden elements or occasions; reputational threat and potential adversarial reactions of Allegiant’s or Sun Country’s clients, suppliers, workers, labor unions or different enterprise companions, together with these ensuing from the announcement or completion of the Sun Country acquisition; and the dilution brought on by Allegiant’s issuance of extra shares of its frequent inventory in reference to the consummation of the Sun Country acquisition.

Any forward-looking statements are based mostly on info out there to us as we speak and we undertake no obligation to replace publicly any forward-looking statements, whether or not because of future occasions, new info or in any other case.

Detailed monetary info follows:

Appendix A
Non-GAAP Presentation
Three Months Ended March 31, 2026 and 2025
(Unaudited)

We current adjusted consolidated working expense and adjusted consolidated working revenue, which exclude particular fees associated to (i) the affect of losses and insurance coverage recoveries incurred primarily as the results of hurricanes and different insured occasions at Sunseeker Resort, (ii) different fees associated to the sale of Sunseeker, and (iii) the airline particular fees listed within the desk under. We additionally current adjusted consolidated curiosity expense, adjusted consolidated revenue earlier than revenue taxes, adjusted consolidated web revenue, and adjusted consolidated diluted earnings per share, which exclude the particular fees described above and losses on extinguishment of debt.

We current adjusted airline-only working expense, adjusted airline-only working revenue, adjusted airline-only revenue earlier than revenue taxes, adjusted airline-only web revenue, and adjusted airline-only diluted earnings per share which exclude particular fees and different prices associated to (i) plane accelerated depreciation on early retirement of sure airframes, (ii) accelerated amortization of software program recognized to be redeveloped, (iii) prices associated to the Sun Country acquisition, (iv) a credit score loss on a observe receivable, and (v) losses on extinguishment of debt.

All of the measures described above are non-GAAP monetary measures. We consider the presentation of those measures is related and helpful for buyers as a result of it permits them to raised gauge the efficiency of the airline and to match our outcomes to different airways. Management believes the exclusion of this stuff enhances comparability of monetary info between durations.

We additionally current adjusted airline-only CASM, which excludes plane gasoline expense and particular fees. Fuel value volatility impacts the comparability of 12 months over 12 months monetary efficiency as do the airline particular fees. We consider the changes for gasoline expense and airline particular fees enable buyers to raised perceive our non-fuel prices and associated efficiency.

Consolidated and airline-only earnings earlier than curiosity, taxes, depreciation, and amortization (“Consolidated EBITDA” and “Airline EBITDA”), adjusted Consolidated EBITDA, adjusted Airline EBITDA, and estimated adjusted earnings per share, as offered on this press launch, are supplemental measures of our efficiency that aren’t required by, or offered in accordance with, accounting ideas usually accepted within the United States (“GAAP”). These will not be measurements of our monetary efficiency underneath GAAP and shouldn’t be thought-about in isolation or as an alternative choice to web revenue or every other efficiency measures derived in accordance with GAAP or as an alternative choice to money flows from working actions as a measure of our liquidity.

We outline “EBITDA” as earnings earlier than curiosity, taxes, depreciation and amortization. The adjusted EBITDA measures additionally exclude particular fees and losses on the extinguishment of debt. We warning buyers that quantities offered in accordance with this definition might not be corresponding to comparable measures disclosed by different issuers, as a result of not all issuers and analysts calculate EBITDA in the identical method.

We use EBITDA and adjusted EBITDA to guage our working efficiency and liquidity, and these are among the many main measures utilized by administration for planning and forecasting of future durations. We consider these shows of EBITDA are related and helpful for buyers as a result of they permit buyers to view ends in a fashion just like the strategy utilized by administration and make it simpler to match our outcomes with different corporations which have completely different financing and capital constructions. EBITDA has necessary limitations as an analytical instrument. These limitations embrace the next:

• EBITDA doesn’t mirror our capital expenditures, future necessities for capital expenditures or contractual commitments to buy capital tools;
• EBITDA doesn’t mirror curiosity expense or the money necessities essential to service principal or curiosity funds on our debt;
• though depreciation and amortization are non-cash fees, the belongings that we presently depreciate and amortize will doubtless have to get replaced sooner or later, and EBITDA doesn’t mirror the money required to fund such replacements; and
• different corporations in our {industry} might calculate EBITDA otherwise than we do, limiting its usefulness as a comparative measure.

Presented under is a quantitative reconciliation of those adjusted numbers (aside from the estimated earnings per share and adjusted working margin figures) to probably the most straight comparable GAAP monetary efficiency measure.

The SEC has adopted guidelines (Regulation G) regulating the usage of non-GAAP monetary measures. Because of our use of non-GAAP monetary measures on this press launch to complement our consolidated monetary statements offered on a GAAP foundation, Regulation G requires us to incorporate on this press launch a presentation of probably the most straight comparable GAAP measures, that are working bills, working revenue (loss), curiosity expense, revenue (loss) earlier than revenue taxes, web revenue, and earnings per share, and a reconciliation of the non-GAAP measures to probably the most comparable GAAP measure. Our utilization of non-GAAP measurements will not be meant to be thought-about in isolation or as an alternative to working bills, working revenue (loss), curiosity expense, revenue (loss) earlier than revenue taxes, web revenue, earnings per share, or different measures of monetary efficiency ready in accordance with GAAP. Our use of those non-GAAP measures might not be corresponding to equally titled measures employed by different corporations within the airline and journey {industry}. The reconciliation of every of those measures to probably the most comparable GAAP measure for the durations is indicated under.

SOURCE Allegiant Travel Company