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LAS VEGAS (AP) — LAS VEGAS (AP) — Allegiant Travel Co. (ALGT) on Wednesday reported first-quarter net income of $56.1 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 profit of $3.09. Earnings, adjusted for non-recurring gains, were $3.04 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.29 per share.
The travel services company posted revenue of $649.7 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $628.2 million.
Allegiant Travel shares have climbed 43% since the beginning of the year. The stock has fallen 37% 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 ALGT">Zacks stock report on ALGT at https://www.zacks.com/ap/ALGT