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Alaska Air Group Q2 GAAP net income of $260 million

Staff Writer |
Alaska Air Group reported second quarter 2016 GAAP net income of $260 million, or $2.10 per diluted share, compared to $234 million, or $1.79 per diluted share in Q2 2015.

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Excluding the impact of mark-to-market fuel hedge adjustments and merger costs, the company reported record adjusted net income of $263 million, or $2.12 per diluted share, compared to adjusted net income of $230 million, or $1.76 per diluted share, in 2015.

Alaska Air Group paid $0.275 per-share quarterly cash dividend in the second quarter, a 38% increase over the dividend paid in the second quarter of 2015.

The company generated approximately $900 million of operating cash flow and $560 million of free cash flow in the first six months of 2016. It grew passenger revenues by 3% compared to the second quarter of 2015.

Alaska Air Group expanded adjusted pre-tax margins from 25.7% in the second quarter of 2015, to 28.4% in the second quarter of 2016. The company achieved 25.3% adjusted pre-tax margin on a trailing twelve month basis.

Alaska Air Group achieved return on invested capital of 25.9% for the 12-month period ending June 30, 2016, compared to 22.0% for the 12-month period ending June 30, 2015.

The company lowered adjusted debt-to-capitalization ratio to 25% as of June 30, 2016, and held $1.6 billion in unrestricted cash and marketable securities as of June 30, 2016.


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