SEATTLE (AP) — Alaska Air Group Inc. (ALK) on Thursday reported third-quarter profit of $139 million.
On a per-share basis, the Seattle-based company said it had net income of $1.08. Earnings, adjusted for non-recurring costs, came to $1.83 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.88 per share.
The airline posted revenue of $2.84 billion in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $2.88 billion.
Alaska Air expects full-year earnings to be $4.25 to $4.75 per share.
Alaska Air shares have dropped 24% since the beginning of the year. The stock has declined 23% in the last 12 months.
