LAS VEGAS (AP) _ Allegiant Travel Co. (ALGT) on Wednesday reported a fourth quarter profit of $52.5 million.
The Las Vegas-based company said it had a profit of $2.87 per share. Earnings, adjusted for non-recurring costs, came in at $3.17 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts polled 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 a profit of $2.5 million, or 14 cents per share. Revenue was reported at $2.3 billion.
Shares of Allegiant Travel are up 24% since the start of the year. In the final minutes of trading on Wednesday, shares hit $84.39, a decline of 53% over the past 12 months.
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This story was produced 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
