SEATTLE — Alaska Air Group Inc. (ALK) on Thursday reported a third-quarter loss of $431 million, after reporting a profit in the same period a year earlier.
The Seattle-based company said it had a loss of $3.49 per share. Losses, adjusted for one-time gains and costs, came to $3.23 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of $2.86 per share.
The airline posted revenue of $701 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $680.3 million.
Alaska Air shares have fallen 41% since the beginning of the year. The stock has declined 43% in the last 12 months.
