Allegiant Travel Company (ALGT)
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Allegiant Travel Company flies Americans from small towns straight to the beach, and it does so profitably: the airline segment posted positive operating income in 2023, 2024 and 2025 ($251.5 million, $142.2 million and $143.9 million). The group still reported a net loss of $240.2 million in 2024 and $44.7 million in 2025. The culprit was a Florida resort the company sold to Blackstone affiliates on September 4, 2025 — after a $321.8 million impairment and a $100.4 million write-down. Since May 13, 2026 Sun Country Airlines belongs to the group, paid for with cash, new shares and, in June, $650 million of 7.125 percent notes. Not a recommendation — just the arithmetic that actually sits in the filings with the U.S. securities regulator, the SEC.
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Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Quality & Screener
AI Rating
Uses AIAllegiant hat laut Geschäftsbericht 2025 einen firmeninternen „AI Council“ eingerichtet, der KI-Lösungen im Betrieb einführen und Routineprozesse automatisieren soll; KI ist erklärter Teil der Wachstumsstrategie, aber nachweislich keine eigene Umsatzquelle.
View the full file — quotes, sources, reviewed filings
„We have established an Artificial Intelligence (“AI”) Council to explore and implement AI-driven solutions across various business operations. This Council, composed of cross-functional leaders and experts, is focused on automating routine processes, enhancing data analytics capabilities, and improving decision-making frameworks."
Wir haben einen Rat für Künstliche Intelligenz („AI Council“) eingerichtet, der KI-gestützte Lösungen in verschiedenen Geschäftsbereichen prüfen und einführen soll. Dieser Rat aus bereichsübergreifenden Führungskräften und Fachleuten konzentriert sich darauf, Routineprozesse zu automatisieren, die Datenanalyse zu verbessern und Entscheidungsgrundlagen zu schärfen.
„taking advantage of the foundational technology we now have in place to leverage and embrace advancing technology (such as AI) to offer increased value to our customers and be able to scale more productively"
die vorhandene technische Grundlage nutzen, um fortschreitende Technologie (etwa KI) einzusetzen und aufzugreifen — damit wir unseren Kunden mehr Wert bieten und produktiver wachsen können
Filings Reviewed: 10-Q 2026-05-06 · 10-K 2026-02-26 · 10-Q 2025-11-06 · 10-Q 2025-08-06 · 10-Q 2025-05-07 · 10-K 2025-03-03
Rated on July 27, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -12.00 | – | 628 | 2.70 | -34.40 | 84 | 24 |
| 2025: Q1 | 1.78 | – | 699 | 6.50 | 4.60 | 191 | 117 |
| 2025: Q2 | -3.62 | -572.40 | 689 | 3.50 | -9.50 | 92 | -11 |
| 2025: Q3 | -2.41 | – | 562 | 0.00 | -7.80 | -6 | -122 |
| 2025: Q4 | 1.76 | – | 656 | 4.50 | 4.90 | 112 | 90 |
| 2026: Q1 | 2.33 | 30.90 | 732 | 4.80 | 5.80 | 268 | 223 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
The airline segment was profitable in each of 2023, 2024 and 2025: $251.5 million, $142.2 million and $143.9 million of operating income, and $188.1 million, $94.3 million and $75.3 million pre-tax. In the first quarter of 2026 — the first without the resort — it produced $81.1 million of operating income and $42.5 million of net income despite fuel costing 16.5 percent more.
Operating cost of 8.04 cents per available seat mile excluding fuel and special charges (2025, after 8.56 cents in 2024), 92.3 percent direct distribution through its own website and $76.35 of ancillary revenue per passenger make the model durable. The credit card partnership added $139.6 million in 2025 with 21 million loyalty members.
The Sunseeker resort cost $562.0 million pre-tax between 2023 and 2025, after a $350 million construction loan and a $321.8 million impairment; the September 4, 2025 sale returned only $189.9 million. Barely was the space free when the next large bet followed — the acquisition of Sun Country for a preliminary $976.0 million.
Against $1,096.1 million of shareholders' equity (March 31, 2026, a 24.8 percent equity ratio) stand contractual obligations of $3,713.8 million (December 31, 2025), including $1,303.3 million for 34 aircraft on order with $632.2 million due in 2026 alone. Free cash flow in 2025 was $2.2 million; the June notes add roughly $247 million of bond debt at 7.125 percent.
The Piotroski score of 8 out of 9 and the Altman Z of 4.30 carried in our data set (as of July 24, 2026) do not survive a check against the annual accounts: our reconstruction gives 6 out of 9 and roughly 1.6 on the classic formula. What is reliable are the equity ratio (24.8 percent), liquidity ($902.2 million) and cash flow — for airlines the Altman Z is distorted anyway by customer prepayments.
The combination closed on May 13, 2026, three Sun Country representatives joined a board expanded to eleven, and the June 30, 2026 outlook (at least $1.25 of adjusted earnings per share for the second quarter) came in far above the April 30 standalone guidance. What is documented so far is the start, not the synergy — a single operating certificate is still outstanding.
Allegiant is the turnaround story where you have to look closely at what actually turned. The airline never ran badly — it earned money throughout 2023 to 2025 ($251.5 million, $142.2 million and $143.9 million of operating income). What lost money was a resort that cost $562.0 million pre-tax and went to Blackstone affiliates for $189.9 million on September 4, 2025. Since then the healthy core has stood alone for the first time — but only for a few months: since May 13, 2026 Sun Country Airlines belongs to the group, paid for with $222.6 million in cash, roughly 47 percent more shares and $650 million of notes at 7.125 percent. Investing here is not a bet on the airline; it is a bet that the same management handles the next large commitment better than the last one. Not investment advice.
- Allegiant reached our research list through our in-house stock scanner "Turnaround Candidates" (U.S. selection, as of July 27, 2026, 60 hits). The stock scores 6 of 8 on the turnaround check — exactly like 44 of the 60 hits; 15 score 7 and one scores 8. Within that tie group the order is an arbitrary database sort, and only the 25 strongest names are displayed: Allegiant is currently not among them. The lists are recalculated daily.
- Metric caveat: the Piotroski score (8 of 9) and Altman Z (4.30) from our data set could not be confirmed against the annual accounts, so the text uses balance sheet ratios we computed ourselves (equity ratio 25.0 percent at December 31, 2025 and 24.8 percent at March 31, 2026, classic Altman Z roughly 1.6, Piotroski reconstruction 6 of 9). For airlines the Altman Z is structurally distorted because customers pay for tickets months in advance.
- Timing: the most recent periodic report is the quarterly report (10-Q) as of March 31, 2026, filed May 6, 2026. The Sun Country closing (May 13, 2026), the notes issuance (June 24, 2026) and the raised outlook (June 30, 2026) came afterwards and are taken from current reports (8-K). Do not confuse the names: Sun Country Airlines Holdings (formerly Nasdaq: SNCY) has been a wholly owned subsidiary since May 13, 2026 and no longer trades on its own.
About the Company
Allegiant Travel Company, ein Freizeitreiseunternehmen, bietet Reise- und Freizeitdienstleistungen und -produkte für Bewohner unterversorgter Städte in den USA an. Das Unternehmen bietet planmäßigen Lufttransport auf Direktflügen mit geringer Frequenz zwischen unterversorgten Städten und Freizeitdestinationen.
| Employees | 5,666 |
|---|---|
| Headquarters | Las Vegas, NV |
| Website | allegiantair.com |
| IPO Date | 8. Dec 2006 |
| Next Earnings | 3. Aug 2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Gregory Clark Anderson CPA | CEO & Director | 1982 |
| Robert J. Neal | President & CFO | 1984 |
| Tyler J. Hollingsworth | Executive VP & COO | 1981 |
| Drew A. Wells | Executive VP & Chief Commercial Officer | 1987 |
| Maurice J. Gallagher Jr. | Executive Chairman | 1950 |
| Rebecca J. Aretos | Senior VP of Finance & Chief Accounting Officer | 1976 |
| Asad Shaikh | Senior VP of Corporate Finance & Treasurer | – |
| Nesbert M. Hidalgo | Vice President of Technology | – |
| Sherry Wilson | Managing Director of Investor Relations | – |
| Robert B. Goldberg Esq. | Senior VP, Senior Counsel & Secretary | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 24, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.