By Dean Seal
Shares of Allegiant Travel slipped after the company reported softening demand for leisure travel.
The stock was down 3.3% at $52.44 early in the trading session. Shares have now fallen 44% since the start of the year.
The airline and hospitality company said before the bell that it expects first-quarter earnings to come in at $1.50 a share, the low end of its guidance. Analysts polled by FactSet had been forecasting $1.77 a share.
Chief Commercial Officer Drew Wells said leisure demand is softening, particularly during shoulder and off-peak periods. Allegiant is cutting its full-year capacity to a 13% increase from a 17% increase.
"We will remain flexible with our capacity deployment to appropriately adapt to the demand environment," Well said.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 18, 2025 11:49 ET (15:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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