By Connor Hart

Alaska Air Group guided for adjusted second-quarter earnings below Wall Street's expectations and withheld its full-year outlook, citing recent market uncertainty and volatility.

The carrier, which recently completed its acquisition of Hawaiian Airlines, said Wednesday that it expects adjusted per-share earnings between $1.15 and $1.65 in the current quarter, missing the $2.38 that analysts polled by FactSet expected.

During the same period, capacity is expected to increase 2% to 3%. The company also forecast revenue per available seat mile to be flat to down low single digits, while costs per available seat mile rise in mid to high single digits.

Shares fall 6.7%, to $43.01, in after-hours trading. Through the regular session close, the stock is up 4.3% in the past year, despite having lost nearly one-third of its value in the past three months.

Alaska's outlook came as the airline posted a wider loss and lower-than-expected revenue in the first quarter.

The company notched a loss of $166 million, or $1.35 a share, for its three months ended March 31, compared with a loss of $132 million, or $1.05 a share, a year earlier.

On an adjusted basis, a loss of 77 cents a share was in line with analyst expectations.

Revenue jumped 41% to $3.14 billion but missed the $3.17 billion that Wall Street modeled.

Capacity was up 3.9% in the recent quarter, ahead of the company's expectation for supply to rise 2.5% to 3.5%. Revenue per available seat mile increased 5%, while cost per available seat mile rose 2.1%.

"Amid the economic uncertainty, our teams controlled what they can control and delivered results that strengthen our foundation for the long term," Chief Executive Ben Minicucci said.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 23, 2025 18:13 ET (22:13 GMT)

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