Research Desk Line-up: Copa Holdings Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 16, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Alaska Air Group, Inc. (NYSE: ALK) ("Alaska Air"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ALK, following the Company's reporting of its financial results on October 25, 2017, for the third quarter of the fiscal year 2017. The airline Company's operating income increased 10% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Regional Airlines industry. Pro-TD has currently selected Copa Holdings, S.A. (NYSE: CPA) for due-diligence and potential coverage as the Company announced on November 08, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Copa Holdings when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ALK; also brushing on CPA. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=ALK

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Earnings Reviewed

For the three months ended September 30, 2017, Alaska Air's total operating revenues increased 35% to $2.12 billion from $1.57 billion in Q3 FY16. During Q3 FY17, the Company's total passenger revenues increased 38% to $1.82 billion from $1.32 billion in the same period of last year. The operating revenue figures were below analysts' expectations of $2.17 billion.

During Q3 FY17, the Company's revenue passenger miles (RPM) increased 43.8% to 13.81 billion from 9.60 billion in the comparable period of last year. For the reported quarter, the Company's available seat miles (ASM) increased 44.2% to 16.16 billion from 11.21 billion in Q3 FY16. For the reported quarter, the Company's passenger revenue per ASM (PRASM) decreased 4.2% to $0.11 from $0.12 in Q3 FY16.

During Q3 FY17, Alaska Air's cost per ASM (CASM) was at par with the $0.10 recorded in the corresponding period of last year. For the reported quarter, the Company's CASM excluding fuel and special items was $0.80 compared to $0.82 in Q3 FY16.

For the reported quarter, Alaska Air's load factor decreased 20 basis points to 85.4% from 85.6% in Q3 FY16. For the reported quarter, the Company's operating revenue per ASM (RASM) decreased 6.1% to $0.13 from $0.14 in Q3 FY16.

For the reported quarter, Alaska Air's wages and benefits expenses increased 40% to $475 million from $340 million in Q3 FY16. For the reported quarter, the Company's aircraft maintenance expenses increased 38% to $88 million from $64 million in Q3 FY16. During Q3 FY17, the Company's D&A expenses decreased 6% to $95 million from $101 million in the same period of last year.

During Q3 FY17, the Company's operating income increased 10% to $439 million from $400 million in Q3 FY16. For the reported quarter, the Company's operating margin decreased 480 basis points to 20.7% of revenue from 25.5% of revenue in the third quarter of last year.

For the reported quarter, Alaska Air's net income increased 3.9% to $266 million on a y-o-y basis from $256 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) increased 3.4% to $2.14 on a y-o-y basis from $2.07 in the comparable period of last year. For the reported quarter, Alaska Air's adjusted net income increased 2.2% to $278 million on a y-o-y basis from $272 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 1.8% to $2.24 on a y-o-y basis from $2.20 in Q3 FY16. The adjusted diluted EPS was below analysts' expectations of $2.25.

Segment Details

Mainline - During Q3 FY17, Alaska Air's Mainline segment's total operating revenue increased 41.8% to $1.83 billion from $1.29 billion in Q3 FY16. For the reported quarter, the segment's passenger revenue increased 45.6% to $1.56 billion from $1.07 billion in Q3 FY16. For the reported quarter, the segment's earnings before tax (EBT) increased 10.2% to $422 million from $383 million in the third quarter of 2016.

During Q3 FY17, Mainline segment's RPM increased 47.7% to 12.69 billion from 8.60 billion in the same period of last year. For the reported quarter, the segment's ASM increased 48.2% to 14.80 billion from 9.99 billion in Q3 FY16.

Regional - During Q3 FY17, Alaska Air's Regional segment's total operating revenue increased 4.8% to $284 million from $271 million in Q3 FY16. For the reported quarter, the segment's passenger revenue increased 5.2% to $262 million from $249 million in Q3 FY16. For the reported quarter, the segment's EBT decreased 42.9% to $20 million from $35 million in the third quarter of 2016.

During Q3 FY17, Regional segment's RPM increased 11% to 1.12 billion from 1.01 billion in the comparable period of last year. For the reported quarter, the segment's ASM increased 11.7% to 1.37 billion from 1.23 billion in in Q3 FY16.

Balance Sheet

As on September 30, 2017, Alaska Air's cash and marketable securities increased 10.1% to $1.74 billion from $1.58 billion as on December 31, 2016. For the reported quarter, the Company's long-term debt decreased 10.5% to $2.37 billion from $2.65 billion in Q4 FY16.

During Q3 FY17, the Company's debt to capitalization ratio was 53% compared to 59% in Q4 FY16.

On November 03, 2017, the Company's Board of Directors declared a regular quarterly cash dividend of $0.30 per share, payable on December 07, 2017, to all shareholders of record as of November 21, 2017.

Stock Performance

At the close of trading session on Wednesday, November 15, 2017, Alaska Air's stock price rose 4.47% to end the day at $64.44. A total volume of 2.80 million shares were exchanged during the session, which was above the 3-month average volume of 1.83 million shares. The Company's shares are trading at a PE ratio of 10.34 and have a dividend yield of 1.86%. At Wednesday's closing price, the stock's net capitalization stands at $7.92 billion.

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