• Reported record first quarter net income, excluding special items, of $89 million, or $1.28 per diluted share, compared to adjusted net income of $44 million, or $0.62 per diluted share in the prior-year quarter. This quarter’s results compare to a First Call analyst consensus estimate of $1.24 per share.
• Recorded net income for the first quarter under Generally Accepted Accounting Principles (GAAP) of $94 million or $1.35 per diluted share, compared to net income of $37 million, or $0.51 per diluted share in 2013.
• Reported record adjusted pretax margin for the first quarter of 11.8%.
• Achieved trailing 12-month return on invested capital of 14.8% compared to 13.4% in the 12 months ended March 31, 2013.
• Paid a $0.25 per-share quarterly cash dividend on March 11 totaling $17 million. This is a 25% increase from the previous cash dividend payment of $0.20 per-share.
• Repurchased 352,851 shares of common stock for $30 million in the first quarter of 2014.
• Lowered adjusted debt-to-total-capitalization ratio by 3%, to 32%, from December 31, 2013.
• Held $1.4 billion in unrestricted cash and marketable securities as of March 31, 2014.
• Held the No. 1 spot in U.S. Department of Transportation on-time performance among the 9 largest U.S. airlines for the twelve months ended February 2014.
• Named No. 1 on-time carrier in North America for the fourth year in a row from FlightStats in February 2014. For 2013, Alaska Airlines had the best on-time departure and on-time arrival statistics, which were approximately three points higher than the second place airlines in both categories.
• Launched online self-tag baggage options for passengers flying from Seattle to San Diego, Anchorage, or Juneau with plans to launch at other airports later in the summer.
• Reached agreement on a five-year contract with 2,500 clerical, office and passenger service employees at Alaska Airlines, represented by the International Association of Machinists and Aerospace Workers.
• Reached agreement on a four-year contract with Horizon Air dispatchers, represented by the Transport Workers Union.
• Began Bombardier Q-400 service from Anchorage to Fairbanks and Kodiak in the state of Alaska, operated by Horizon Air.
• Announced service to New Orleans, Tampa, Fla., Detroit, Baltimore, and Albuquerque, N.M., from Seattle, as well as service to Kalispell, Mont., from Portland, Ore.
• Filed an application to begin seasonal nonstop service between Seattle and Cancun, Mexico.
Source / Author: Alaska Air