Alaska Air Non-GAAP EPS of $1.05 misses by $0.05, revenue of $3.77B beats by $10M

* Alaska Air press release [https://seekingalpha.com/pr/20278576-alaska-air-group-reports-third-quarter-2025-results] (NYSE:ALK [https://seekingalpha.com/symbol/ALK]): Q3 Non-GAAP EPS of $1.05 misses by $0.05.
* Revenue of $3.77B (+22.8% Y/Y) beats by $10M.

Q3 2025 Results

Prior Expectation

Actual Results

Capacity (ASMs) % change versus pro forma 2024

Down ~(1.0)%

Down ~(0.7)%

RASM % change versus pro forma 2024

Flat to up low single digits

Up ~1.4%

CASMex % change versus pro forma 2024

Up mid to high single digits

Up ~8.6%

Adjusted earnings per share

$1.00 to $1.40

$1.05

Click to enlarge

MORE ON ALASKA AIR

* Alaska Airlines: Strong Buy As Market Fails To See The Value (Rating Upgrade) [https://seekingalpha.com/article/4829243-alaska-airlines-strong-buy-market-fails-to-see-value]
* Alaska Airlines' Merger Anniversary: Assessment And Prospects [https://seekingalpha.com/article/4820631-alaska-airlines-merger-anniversary-assessment-and-prospects]
* Alaska Air Q3 2025 Earnings Preview [https://seekingalpha.com/news/4506981-alaska-air-q3-2025-earnings-preview]
* Earnings week ahead: TSLA, KO, T, INTC, NFLX, F, GM, AAL, LUV, PG, GE, MMM, CLF, AGNC, and more [https://seekingalpha.com/news/4505221-earnings-week-ahead-tsla-ko-t-intc-nflx-vz-f-gm-aal-luv-pg-ge-mmm-clf-agnc-and-more]
* Seeking Alpha’s Quant Rating on Alaska Air [https://seekingalpha.com/symbol/ALK/ratings/quant-ratings]