Allegiant travel company second quarter 2021 financial results

Las vegas, july 28, 2021 /prnewswire/ -- allegiant travel company (nasdaq: algt) today reported the following financial results for the second quarter 2021, as well as comparisons to the prior years: consolidated three months ended june 30, percent change (unaudited) (in millions, except per share amounts) 2021 2020 2019 yoy yo2y total operating revenue $ 472.4 $ 133.3 $ 491.8 254.3 (3.9) total operating expense 333.6 246.6 383.7 35.3 (13.1) operating income (loss) 138.9 (113.3) 108.1 222.6 28.4 income (loss) before income taxes 122.6 (146.4) 91.8 183.7 33.5 net income (loss) 95.0 (93.1) 70.5 202.1 34.7 diluted earnings (loss) per share $ 5.49 $ (5.85) $ 4.33 193.8 26.8 six months ended june 30, percent change (unaudited) (in millions, except per share amounts) 2021 2020 2019 yoy yo2y total operating revenue $ 751.6 $ 542.5 $ 943.4 38.5 (20.3) total operating expense 588.1 766.8 744.2 (23.3) (21.0) operating income (loss) 163.5 (224.3) 199.2 172.9 (17.9) income (loss) before income taxes 131.2 (277.1) 165.7 147.4 (20.8) net income (loss) 101.9 (126.1) 127.7 180.8 (20.2) diluted earnings (loss) per share $ 6.04 $ (7.93) $ 7.84 176.2 (23.0) consolidated - adjusted three months ended june 30, percent change (unaudited) (in millions, except per share amounts) 2021 2020 2019 yoy yo2y adjusted operating expense (1) (2) $ 378.6 $ 239.9 $ 383.7 57.8 (1.3) adjusted operating income (loss) (1) (2) 93.9 (106.6) 108.1 188.1 (13.1) adjusted income (loss) before income taxes (1) (2) 77.6 (119.9) 91.8 164.7 (15.5) adjusted net income (loss) (1) (2) 60.0 (94.7) 70.5 163.4 (14.9) adjusted diluted earnings (loss) per share (1) (2) $ 3.46 $ (5.96) $ 4.33 158.1 (20.1) six months ended june 30, percent change (unaudited) (in millions, except per share amounts) 2021 2020 2019 yoy yo2y adjusted operating expense (1) (2) $ 716.7 $ 594.0 $ 744.2 20.7 (3.7) adjusted operating income (loss) (1) (2) 34.9 (51.5) 199.2 167.8 (82.5) adjusted income (loss) before income taxes (1) (2) 2.6 (77.7) 165.7 103.3 (98.4) adjusted net income (loss) (1) (2) 2.0 (61.4) 127.7 103.3 (98.4) adjusted diluted earnings (loss) per share (1) (2) $ 0.12 $ (3.87) $ 7.84 103.1 (98.5) (1) adjusted numbers exclude covid related special charges, the net benefit from the payroll support programs (psps), and profit sharing bonus accruals since the operating margin threshold to accrue these bonuses would not have been met for the six months ended june 30, 2021 without the benefits of the psps (2) denotes a non-gaap financial measure. refer to the non-gaap presentation section within this document for further information "the second quarter marked the return of leisure demand to pre-pandemic levels," stated maurice j.
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