Alaska Air Group (ALK) reported $3.07 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 8.2%. EPS of $2.25 for the same period compares to $1.83 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $2.99 billion, representing a surprise of +2.84%. The company delivered an EPS surprise of +2.27%, with the consensus EPS estimate being $2.20.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Alaska Air performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Passenger Load Factor: 85.5% versus 84.9% estimated by five analysts on average.

• Total revenue per ASM (RASM): 15.48 cents versus 15.57 cents estimated by four analysts on average.

• Available seat miles (ASM): 19.85 billion versus 19.25 billion estimated by four analysts on average.

• Revenue passenger miles (RPM): 16.97 billion versus 16.26 billion estimated by four analysts on average.

• Economic fuel cost per gallon: $2.61 versus the four-analyst average estimate of $2.64.

• Fuel gallons: 240 Mgal versus 229.43 Mgal estimated by three analysts on average.

• Passenger Yield: 16.62 cents compared to the 16.96 cents average estimate based on three analysts.

• Operating expenses per ASM, excluding fuel and special items: 10.16 cents compared to the 10.33 cents average estimate based on three analysts.

• Consolidated - ASMs per fuel gallon: 82.7 Gal versus 83.05 Gal estimated by three analysts on average.

• Revenue- Passenger: $2.82 billion compared to the $2.75 billion average estimate based on five analysts. The reported number represents a change of +7.8% year over year.

• Revenue- Mileage Plan other: $171 million versus the four-analyst average estimate of $170.69 million. The reported number represents a year-over-year change of +7.6%.

• Revenue- Cargo and other: $80 million versus $65.65 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +29% change.

View all Key Company Metrics for Alaska Air here>>>

Shares of Alaska Air have returned +7% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.