Alaska Air Group Inc.'s (ALK) first-quarter GAAP net income slipped to $37 million, or $0.51 per share, from $41 million, or $0.56 per share a year before. Excluding the impact of mark-to-market fuel hedge adjustments of $12 million, non-GAAP net income totaled $44 million, or $0.62 per share in the first quarter. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.53 for the quarter. Analysts' estimates typically exclude one-time items.
During the three-month period, operating revenues totaled $1.13 billion, up 9% from last year's $1.04 billion, and matched consensus estimates of $1.13 billion.
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