Allegiant Travel CO (ALGT) · Nov 4, 2026 · Earnings

Allegiant earnings beat as fuel surges, EPS guide reaffirmed

Beat — Revenue $961.6M vs ~$946.4M consensus

Allegiant’s Q3 earnings beat on revenue and operating margin despite sharply higher fuel, while full-year EPS guidance stayed above $6.

Allegiant is in the middle of becoming a larger leisure-airline platform through Sun Country, while trying to prove that the combination can produce synergies without losing its low-cost discipline. The acquisition closed in May 2026, with management targeting roughly $140 million of annual synergies over the integration period.

The quarter cleared the bar operationally. Pro forma revenue rose 19% with roughly 6% less capacity, while adjusted operating margin reached 3.1% versus negative 0.3% a year earlier. Revenue of $961.6 million also exceeded the published consensus of approximately $946.4 million, making this a genuine earnings beat rather than merely a favorable year-over-year comparison.

Metric	Q3 2026	Comparison	Consensus / guide
Total operating revenue (Pro Forma Comparative Financial Results)	$961.6M (+19.0%)	$808.1M	~$946.4M
Adjusted operating margin (Pro Forma Comparative Financial Results)	3.1%	(0.3% prior year	1.0%–3.0% guide
Adjusted diluted EPS (Adjusted EPS reconciliation)	($0.03)	($2.09)	($1.00)–$0.00 guide
Fuel cost per gallon (Airline operating statistics)	$3.98 (+55.5%)	$2.56	$3.80 guide
Total debt (Liquidity and debt)	$2,938.0M	$1,799.6M

Pricing and capacity discipline did the heavy lifting. Scheduled-service TRASM increased 28.3% on the pro forma comparison, load factor improved to 86.7%, and capacity was reduced 5.7%. That combination shows Allegiant is protecting economics rather than chasing passenger growth, while commercial initiatives such as ancillary pricing, co-brand revenue and Expedia are beginning to broaden the revenue base. 〔0〕

The main offset is cost pressure, not demand. Adjusted non-fuel CASM increased 9.1% even with lower capacity, and the quarter included $19.1 million of special charges, largely tied to Sun Country integration. Sun Country itself generated a $3.8 million adjusted pretax loss in the quarter, so the acquisition is not yet contributing evenly across the combined business. The balance sheet also carries materially more debt after the transaction, which makes sustained margin execution more important.

Management held the earnings framework rather than raised it. Full-year adjusted EPS guidance above $6.00 was reaffirmed despite fuel running above the prior assumption, while fourth-quarter guidance calls for 6.0%–7.0% adjusted operating margin and $1.00–$1.50 adjusted EPS. That is supportive, but it is confirmation of an already-established path, not a major new upside signal. 〔1〕

The fleet plan adds flexibility but also future capital commitments. Allegiant exercised six Boeing 737-8 options for 2028 delivery, taking firm orders to 56 aircraft with 74 options remaining. Management has not finalized 2027 capacity plans because fuel remains elevated, so the new aircraft are an earnings and efficiency option—not an immediate promise of aggressive growth. 〔2〕

Bottom line: Allegiant showed that its pricing and capacity playbook can absorb a severe fuel shock, producing a modest beat and preserving the full-year outlook. The result strengthens the combined-airline story, but the heavier debt load, rising non-fuel costs and still-lossmaking Sun Country operation keep this as a solid execution quarter—not a complete rewrite of the thesis.

What to watch next

Investor Day, December 7

Original filing on SEC EDGAR

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AllSight · BlackBerry Q2 FY27

Revenue $163.3M vs ~$144M expected; adjusted basic EPS $0.07 vs ~$0.04 consensus — a real upside surprise.Income statement
QNX revenue +27% to $80.3M; segment EBITDA $29.0M from $20.5M. “Record performance… core automotive.”Segment — QNX
Licensing jumped to $22.1M from $6.6M — it amplified the beat, but it's less recurring than QNX, so the quality sits in QNX.Segment — Licensing
FY27 guide lifted to $616–636M rev / $141–158M EBITDA, above the prior $594–621M / $119–139M framework.Guidance
QNX growth, margins, cash and a raised outlook all beat. But licensing amplified it and Secure Comms is flat — net retention 91% from 93%.Segment — Secure Comms

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Events/ANDE/8-K · Earnings

8-K · Item 2.02 · Earnings

The Andersons — a record Renewables quarter that beat profit expectations

Filed Aug 3, 2026ANDE · NASDAQ

AllSight readBeatPriced in▲ 1.8% since filed · reaction agrees

adj. EPS $2.15 vs ~$1.48 consensus

This filing tests whether The Andersons' sharp profit increase reflects broad operating improvement or a one-off renewable-fuels boost. It also separates strong adjusted earnings and cash generation from the quarter's legal and impairment charges.

The quarter was substantially stronger than both last year and the published earnings expectation. Adjusted EPS reached $2.15, versus $0.24 a year earlier and above the published consensus of about $1.48; reported EPS was $1.65. Adjusted EBITDA more than doubled to $140 million, while sales slipped modestly — the improvement came from margins and operating performance rather than higher revenue. Financial Highlights · Statements of Operations

Q2 ($M, exc. per-share)	Q2 2026	Q2 2025	YoY
Sales & merchandising revenue	3,097.7	3,135.9	−1%
Net income (attributable)	56.6	7.9	+48.7
Diluted EPS	1.65	0.23	+1.42
Adjusted EPS	2.15	0.24	+1.91
Adjusted EBITDA	140.3	65.2	+75.1
Agribusiness adj. pretax	20.3	16.8	+3.5
Renewables adj. pretax	88.4	9.6	+78.8
Cash from operations	487.9	299.3	+188.6
Cash from ops (pre-WC)	112.9	42.9	+70.1

Renewables drove nearly all of the upside — the operating backdrop was strong, but the result also benefited materially from tax credits. Renewables' adjusted pretax income rose to $88 million on record production, stronger ethanol margins and merchandising gains. It also received $24 million of 45Z producer tax credits, so this was not solely a repeatable plant-margin improvement; the company did cite healthy export and domestic ethanol demand as supportive. Renewables — Record Q2 · Segment Data

Agribusiness improved, but it was a supporting contributor rather than the main earnings engine. Adjusted pretax income increased to $20 million as fertilizer margins improved and merchandising benefited from commodity-price volatility, despite lower fertilizer volumes. Agribusiness — Improved Q2 · Segment Data

Cash generation improved and funding capacity is comfortable, while reported earnings still absorbed meaningful non-core costs. Operating cash flow was $488 million ($113 million before working-capital changes); capital spending was $76 million. Adjusted EPS excludes $0.50 of legal-settlement, impairment and transaction items, so the $2.15 adjusted result runs ahead of the $1.65 reported. Leverage stays below the <2.5× debt-to-EBITDA target; no new quantified full-year outlook was given. Cash & Liquidity · Adjusted Net Income

Community sentiment · 612 votes

58% bullish

Bull 58%Neu 27%Bear 15%

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Allegiant earnings beat as fuel surges, EPS guide reaffirmed

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