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Allegiant Travel Shares Rise After Updating Q2 Adjusted EPS Outlook

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Allegiant Travel (ALGT) shares rose over 3% in Tuesday trading after the company said it now expects Q2 adjusted earnings per share for the combined entity to be at least $1.25 following the acquisition of Sun Country Airlines, inclusive of Sun Country's results from May 13 through June 30.

Analysts polled by FactSet expect a loss of $0.27 per share.

The updated outlook exceeds the prior standalone Allegiant Air guidance issued on April 30, which expected an adjusted loss per share of approximately $0.50 at the midpoint, according to a Tuesday regulatory filing.

Price: $117.84, Change: $+3.64, Percent Change: +3.19%

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