Allegiant Travel Company ALGT is scheduled to report third-quarter 2024 results on Oct. 30 after market close.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

ALGT has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once. The average beat is 52%.

The Zacks Consensus Estimate for ALGT’s third-quarter earnings has narrowed to a loss of $1.85 per share from a loss of $2.76 in the past 60 days. Meanwhile, the Zacks Consensus Estimate for revenues is pegged at $561.5 million, which indicates a decline of 0.7% year over year.

Our estimate for revenues from the passenger segment is pegged at $500.7 million, down 3% from the third-quarter 2023 actuals. Meanwhile, estimates for revenues from the third-party products segment are pegged at $25.8 million.

As per our estimate, total third-quarter operating expenses are expected to remain flat at $551.2 million, unchanged from the year-ago figures.

As fuel expenses represent a key input cost for any transportation player, a decline in fuel costs bodes well for Allegiant’s bottom line. In the first half of 2024, the average fuel cost per gallon (scheduled) decreased 3.9% to $2.92. For the third quarter of 2024, management expects the fuel cost per gallon to be $2.80.

Allegiant Travel Company Price and EPS Surprise

Allegiant Travel Company price-eps-surprise | Allegiant Travel Company Quote

What Our Model Says About ALGT

Our proven model does not conclusively predict an earnings beat for Allegiant Travel Company this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

ALGT has an Earnings ESP of -1.55% and a Zacks Rank #2 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

ALGT’s Q2 Highlights

Allegiant’s second-quarter 2024 earnings of $1.77 per share beat Zacks Consensus Estimate of 84 cents but declined 59.3% year over year. Operating revenues of $666.3 million surpassed the Zacks Consensus Estimate of $659 million but decreased 2.6% on a year-over-year basis.

Passenger revenues, which accounted for the bulk (89.2%) of the top line, fell 7.5% on a year-over-year basis.

Stocks to Consider

Here are some stocks from the broader Zacks Transportation sector that investors might want to consider, as our model shows that these have the right combination of elements to beat third-quarter 2024 earnings.