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LAS VEGAS (AP) _ Allegiant Travel Co. (ALGT) on Wednesday reported fourth-quarter profit of $52.5 million.
The Las Vegas-based company said it had profit of $2.87 per share. Earnings, adjusted for non-recurring costs, came to $3.17 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The travel services company posted revenue of $611.5 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $578.3 million.
For the year, the company reported profit of $2.5 million, or 14 cents per share. Revenue was reported as $2.3 billion.
Allegiant Travel shares have increased 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $84.39, a decline of 53% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALGT at https://www.zacks.com/ap/ALGT
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