Jan. 26 (Bloomberg) -- Alaska Air Group Inc. dropped the most in three months in New York trading after the company’s fourth-quarter profit trailed analysts’ estimates.
Alaska, the parent of Alaska Airlines and Horizon Air Industries, fell 3.6 percent to $72.71 at 4:15 p.m., the largest decline since Oct. 25. The Seattle-based airline is the only one of the six biggest U.S. carriers reporting earnings that didn’t top analysts’ forecasts for the quarter.
Profit, excluding a gain tied to fuel hedging contracts, was $37.2 million, or $1.02 a share, below the $1.14 average of 14 analyst estimates compiled by Bloomberg. Revenue of $1.04 billion lagged behind estimates of $1.06 billion.
Including the gain, Alaska’s net income slipped 1.2 percent to $64 million, or $1.76 a share, from $64.8 million, or $1.75, a year earlier, the carrier said in a statement.
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