Here's What Key Metrics Tell Us About Allegiant Travel (ALGT) Q2 Earnings

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Allegiant Travel performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Scheduled service statistics - Revenue passenger miles (RPMs): 5.23 billion versus 5 billion estimated by five analysts on average.
• Scheduled service statistics - Load factor: 85.7% compared to the 85.2% average estimate based on five analysts.
• Scheduled service statistics - Available seat miles (ASMs): 6.1 billion compared to the 5.69 billion average estimate based on five analysts.
• Total system statistics - Available seat miles (ASMs): 6.41 billion versus 6.07 billion estimated by five analysts on average.
• Total system statistics - Airline operating CASM, excluding fuel: 8.19 cents versus the four-analyst average estimate of 9.79 cents.
• Scheduled service statistics - Total passenger revenue per ASM (TRASM): 14.24 cents compared to the 15.57 cents average estimate based on four analysts.
• Total system statistics - Average fuel cost per gallon: $4.1 per gallon versus $4.2 per gallon estimated by four analysts on average.
• Total system statistics - Passengers: 5,753,539 versus the three-analyst average estimate of 5,334,570.
• Total system statistics - Full-time equivalent employees at end of period: 8,484 versus the three-analyst average estimate of 5,996.
• Operating Revenues- Fixed fee contracts: $45.72 million versus $37.94 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +168.7% change.
• Operating Revenues- Passenger: $822.49 million versus the four-analyst average estimate of $868.15 million. The reported number represents a year-over-year change of +33.1%.
• Operating Revenues- Third party products: $45.76 million compared to the $50.44 million average estimate based on four analysts. The reported number represents a change of +36% year over year.

View all Key Company Metrics for Allegiant Travel here>>>

Shares of Allegiant Travel have returned -10.5% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

Research Chief Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research