Alaska Air Group Q1 Profit More Than Doubles, Tops View - Quick Facts

(RTTNews) - Alaska Air Group Inc. (ALK) reported first quarter 2014 GAAP net income of $94 million, or $1.35 per share, up from $37 million, or $0.51 per share in the first quarter of 2013.

Excluding the impact of mark-to-market fuel hedge adjustments of $5 million after tax, or $0.07 per share, the company reported record adjusted net income of $89 million, or $1.28 per share, compared to adjusted net income of $44 million, or $0.62 per share, in 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $1.24 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter grew to $1.222 billion from $1.133 billion last year.

Alaska Air Group' Traffic, measured in revenue passenger miles or RPMs, for the quarter increased 4.1% to 7.08 billion from 6.80 billion RPMs in the same quarter last year.

Capacity, measured in available seat miles or ASMs, rose 4.6% to 8.35 billion from last year's 7.98 billion ASMs.

But, Load factor for the quarter was 84.7%, down 0.4 points from 85.1% reported last year.