- Banned
- #1
http://finance.yahoo.com/news/alaska-air-group-reports-record-120000482.html
Financial Highlights:
Financial Highlights:
- Reported record second quarter net income, excluding special items, of $157 million - a 50% increase over the second quarter of 2013.
- Reported adjusted earnings per share of $1.13 per diluted share, a 53% increase over the second quarter of 2013 and ahead of First Call analyst consensus estimate of $1.11 per share.
- Earned net income for the second quarter under Generally Accepted Accounting Principles (GAAP) of $165 million or $1.19 per diluted share, compared to net income of $104 million, or $0.74 per diluted share in 2013.
- Recorded $54 million of incentive pay through the first six months of 2014. This includes each Air Group employee earning at least $550 by meeting or exceeding monthly customer satisfaction and operational performance goals and tracking to earn above-target payouts for full-year goals.
- Grew operating revenues by 9%.
- Generated record adjusted pretax margin in the second quarter of 18.3% compared to 13.5% in 2013.
- Generated 14.9% pretax margin for the trailing 12-month period ended June 30, 2014, compared to 11.8% for the same period in the prior year.
- Ranked in the Fortune 500 for the first time in Air Group's history.
- Achieved trailing 12-month return on invested capital of 16.1% compared to 13.0% in the 12-month period ended June 30, 2013.
- Rated BBB- by Fitch Ratings. Air Group is one of only two U.S. airlines with investment grade credit ratings.
- Declared a 2-for-1 stock split that was effective July 9, 2014. All stock and per-share figures reflect the split retroactively.
- Announced an additional $650 million repurchase program, representing approximately 10% of our stock market capitalization at the time of announcement.
- Repurchased 1,108,334 shares of common stock for $53 million in the second quarter of 2014.
- Paid a $0.125 per-share quarterly cash dividend on June 10, bringing total dividend payments so far this year to $34 million.
- Lowered adjusted debt-to-total-capitalization ratio to 32%.
- Produced operating cash flows of $1 billion and free cash flows of $366 million for the 12-month period ended June 30, 2014.
- Held $1.5 billion in unrestricted cash and marketable securities as of June 30, 2014.
- Maintained fully funded pension plans and had no net debt.