Alaska Air Group (NYSE:ALK) Releases Q1 2026 Earnings Guidance

Alaska Air Group (NYSE:ALK) updated its first quarter 2026 earnings guidance on Thursday. The company provided earnings per share guidance of -1.500–0.500 for the period, compared to the consensus earnings per share estimate of -0.500. The company issued revenue guidance of -. Alaska Air Group also updated its FY 2026 guidance to 3.500-6.500 EPS.

Alaska Air Group Trading Up 4.1%

Shares of ALK opened at $50.88 on Friday. Alaska Air Group has a 52-week low of $37.63 and a 52-week high of $78.08. The company has a quick ratio of 0.49, a current ratio of 0.52 and a debt-to-equity ratio of 1.12. The firm’s fifty day moving average is $47.94 and its two-hundred day moving average is $50.79. The stock has a market cap of $5.90 billion, a PE ratio of 58.48, a price-to-earnings-growth ratio of 0.50 and a beta of 1.22.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings results on Thursday, January 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.32. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.64 billion. Alaska Air Group had a net margin of 0.70% and a return on equity of 7.26%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $0.97 earnings per share. Alaska Air Group has set its Q1 2026 guidance at -1.500–0.500 EPS and its FY 2026 guidance at 3.500-6.500 EPS. Research analysts forecast that Alaska Air Group will post 6.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Alaska Air Group from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Raymond James Financial reaffirmed an “outperform” rating and issued a $71.00 target price on shares of Alaska Air Group in a research note on Friday, December 19th. UBS Group set a $77.00 price target on shares of Alaska Air Group and gave the company a “buy” rating in a research report on Friday, December 12th. Wall Street Zen upgraded shares of Alaska Air Group from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Susquehanna lifted their target price on shares of Alaska Air Group from $52.00 to $70.00 and gave the stock a “positive” rating in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.80.

Alaska Air Group News Summary

Here are the key news stories impacting Alaska Air Group this week:

• Positive Sentiment: Q4 adjusted EPS beat expectations (adjusted $0.43 vs. consensus $0.11), providing an upside surprise that likely supported the rally. Alaska Air Group reports fourth quarter and full year 2025 results
• Positive Sentiment: Management issued FY2026 EPS guidance of $3.50–$6.50 and said momentum is accelerating (integration with Hawaiian Airlines cited), which gives investors a multi‑quarter thesis for earnings improvement. Alaska Air Group reports fourth quarter and full year 2025 results
• Positive Sentiment: Company and analysts are pointing to a pickup in bookings late in Q4 and management expects a “meaningful” improvement in 2026 EPS, reinforcing forward optimism. Alaska Air expects ‘meaningful’ improvement in 2026 EPS
• Neutral Sentiment: Revenue grew modestly (about 2.8% y/y to $3.63B) but came in roughly flat to slightly below some estimates — a mixed top‑line print that tempers the EPS beat. Earnings snapshot / conference call
• Negative Sentiment: Near‑term guidance disappointed: Q1 2026 EPS was guided to -$1.50 to -$0.50 (worse than consensus), which is a short‑term drag and heightens execution risk. Alaska Air Group reports fourth quarter and full year 2025 results
• Negative Sentiment: CEO flagged operational risks from a major winter storm that could disrupt flights and add costs — a near‑term catalyst for volatility in revenue and margins. Alaska Airlines CEO on potential impact to flights from massive winter storm
• Negative Sentiment: Management warned of fuel/refinery risks in California that could increase costs or constrain operations, a material input‑cost risk for airlines. Alaska Airlines CEO: California refineries are a big risk for us going forward
• Negative Sentiment: Detailed quarter metrics show steep year‑over‑year declines in profitability and cash balances, higher cost of sales and rising capex/liabilities — longer‑term fundamentals that could limit upside until margins recover. Q4 results: modest revenue growth, EPS beats but profitability slumps

Hedge Funds Weigh In On Alaska Air Group

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in Alaska Air Group by 2,046.4% in the 4th quarter. Brighton Jones LLC now owns 96,932 shares of the transportation company’s stock valued at $6,276,000 after purchasing an additional 92,416 shares during the last quarter. Engineers Gate Manager LP grew its stake in shares of Alaska Air Group by 2.6% in the second quarter. Engineers Gate Manager LP now owns 131,607 shares of the transportation company’s stock valued at $6,512,000 after buying an additional 3,279 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Alaska Air Group by 48.5% in the third quarter. Russell Investments Group Ltd. now owns 80,494 shares of the transportation company’s stock valued at $4,007,000 after buying an additional 26,297 shares in the last quarter. Algert Global LLC raised its holdings in shares of Alaska Air Group by 1.1% in the 3rd quarter. Algert Global LLC now owns 48,521 shares of the transportation company’s stock valued at $2,415,000 after buying an additional 540 shares during the period. Finally, Prelude Capital Management LLC acquired a new position in Alaska Air Group during the 3rd quarter worth about $1,536,000. 81.90% of the stock is currently owned by institutional investors and hedge funds.

About Alaska Air Group

Alaska Air Group is a publicly traded holding company headquartered in Seattle, Washington, that operates two main airlines—Alaska Airlines and Horizon Air. Through these carriers, the company offers scheduled passenger and cargo services across a network spanning the United States, Canada and Mexico. Its core business activities include domestic and international air transportation, loyalty program management under the Mileage Plan brand, and ancillary revenue streams such as baggage fees, in-flight sales and code-share partnerships with other global airlines.

The roots of Alaska Air Group trace back to the foundation of its flagship carrier, Alaska Airlines, in 1932.