Allegiant Travel Company Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Allegiant Travel Company (ALGT) has filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>

AI Summary

Allegiant Travel CO (ALGT) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Allegiant Travel Company filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31st. Allegiant Travel is incorporated in Nevada (NV). The company's primary business is scheduled air transportation.

Why It Matters

For investors and stakeholders tracking Allegiant Travel CO, this filing contains several important signals. This 10-Q filing provides investors with the latest financial statements and management's discussion of results for the first quarter of 2024, crucial for understanding the company's current performance and outlook. The detailed financial information within the report allows for analysis of revenue streams, operational costs, and balance sheet health, aiding in investment decisions.

Risk Assessment

Risk Level: medium — Allegiant Travel CO shows moderate risk based on this filing. The filing is a standard 10-Q, which typically contains detailed financial information but does not inherently signal significant positive or negative developments without further analysis of the specific numbers and narrative.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to assess revenue trends, cost management, and any forward-looking statements regarding operational plans or market conditions.

Key Players & Entities

• Allegiant Travel CO (company) — Filer of the 10-Q
• ALGT (company) — Ticker symbol for Allegiant Travel CO
• 2024-03-31 (date) — Conformed period of report
• 2024-05-09 (date) — Filed as of date
• NV (location) — State of incorporation
• LAS VEGAS (location) — City for business and mail address

FAQ

Industry Context

Allegiant Travel Company operates in the scheduled air transportation industry, focusing on providing air travel services.

Regulatory Implications

The filing is a Form 10-Q, a quarterly report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the revenue breakdown by segment to identify growth drivers and potential areas of concern.
2. Examine the company's operating expenses and cost management strategies.
3. Review any disclosures related to future capital expenditures or fleet plans.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing. Comparative data from previous periods (e.g., Q1 2023) would be found within the detailed financial statements.

Key Financial Figures

• $0.001 — ich registered Common stock, par value $0.001 ALGT NASDAQ Global Select Market Indi

Filing Documents

• algt-20240331.htm (10-Q) — 901KB
• a3112024q1rule13a-14a15dx1.htm (EX-31.1) — 10KB
• a3122024q1rule13a-14a15dx1.htm (EX-31.2) — 10KB
• a322024q1section135certifi.htm (EX-32) — 7KB
• algt-20240331_g1.jpg (GRAPHIC) — 82KB
• 0001362468-24-000021.txt (&nbsp;) — 5354KB
• algt-20240331.xsd (EX-101.SCH) — 36KB
• algt-20240331_cal.xml (EX-101.CAL) — 58KB
• algt-20240331_def.xml (EX-101.DEF) — 109KB
• algt-20240331_lab.xml (EX-101.LAB) — 453KB
• algt-20240331_pre.xml (EX-101.PRE) — 292KB
• algt-20240331_htm.xml (XML) — 817KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Consolidated Financial Statements

ITEM 1. Consolidated Financial Statements 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 23

Controls and Procedures

ITEM 4. Controls and Procedures 23

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

ITEM 1. Legal Proceedings 24

Risk Factors

ITEM 1A. Risk Factors 24

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 24

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 24

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 24

Other Information

ITEM 5. Other Information 24

Exhibits

ITEM 6. Exhibits 25

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements ALLEGIANT TRAVEL COMPANY CONSOLIDATED BALANCE SHEETS (in thousands) March 31, 2024 December 31, 2023 (unaudited) CURRENT ASSETS Cash and cash equivalents $ 193,414 $ 143,259 Restricted cash 16,859 16,325 Short-term investments 616,461 671,414 Accounts receivable 72,494 70,743 Expendable parts, supplies and fuel, net 35,806 36,335 Prepaid expenses and other current assets 72,072 63,054 TOTAL CURRENT ASSETS 1,007,106 1,001,130 Property and equipment, net 3,523,343 3,447,111 Long-term investments 43,799 56,004 Deferred major maintenance, net 165,701 165,767 Operating lease right-of-use assets, net 97,046 100,707 Deposits and other assets 98,136 98,691 TOTAL ASSETS: $ 4,935,131 $ 4,869,410 CURRENT LIABILITIES Accounts payable 69,486 54,484 Accrued liabilities 297,329 305,078 Current operating lease liabilities 21,944 20,873 Air traffic liability 432,561 353,488 Current loyalty program liability 40,182 38,447 Current maturities of long-term debt and finance lease obligations, net of related costs 459,171 439,937 TOTAL CURRENT LIABILITIES 1,320,673 1,212,307 Long-term debt and finance lease obligations, net of current maturities and related costs 1,789,577 1,819,717 Deferred income taxes 384,036 384,602 Noncurrent operating lease liabilities 77,519 82,410 Noncurrent loyalty program liability 31,283 32,366 Other noncurrent liabilities 9,887 9,448 TOTAL LIABILITIES: $ 3,612,975 $ 3,540,850 SHAREHOLDERS' EQUITY Common stock, par value $ 0.001 26 26 Treasury shares ( 682,075 ) ( 681,932 ) Additional paid in capital 747,873 741,055 Accumulated other comprehensive income, net 2,783 3,991 Retained earnings 1,253,549 1,265,420 TOTAL EQUITY: 1,322,156 $ 1,328,560 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY: $ 4,935,131 $ 4,869,410 The accompanying notes are an integral part of these consolidated financial statements. 3 ALLEGIANT TRAVEL COMPANY CONSOLIDATED STATEMENTS OF INCOME (in thousand

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited) Note 1 — Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Allegiant Travel Company (the "Company") and its majority-owned operating subsidiaries. The Company's investments in unconsolidated affiliates, which are 50 percent or less owned, are accounted for under the equity or cost method, and are insignificant to the consolidated financial statements. All intercompany balances and transactions have been eliminated. These unaudited consolidated financial statements reflect all normal recurring adjustments which management believes are necessary to present fairly the financial position, results of operations, and cash flows of the Company for the respective periods presented. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company and notes thereto included in the annual report of the Company on Form 10-K for the year ended December 31, 2023 and filed with the Securities and Exchange Commission. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. The Company has reclassified certain prior period amounts to conform to the current period presentation. Note

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View this 10-Q filing on SEC EDGAR