Filing Flows › Alaska Air Group (ALK) › Q1 2026
Alaska Air Group (ALK) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Alaska Air Group (ALK) reported revenue of $3.3B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -9% from the quarter before. Operating margin was -8.5%, net loss $193M (5.8% of revenue).
Alaska Air Group, Q1 2026: revenue $3.3B (+5% year over year), operating margin -8.5%, net loss $193M, operating cash flow $421M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.3B | -9% | +5% |
| Operating profit | −$279M | -472% | — |
| Net earnings | −$193M | -1019% | — |
| Operating cash flow | $421M | +128% | -8% |
| Free cash flow | $391M | +312% | -6% |
What changed
Revenue was $3.3B in Q1 2026, up 5% year over year and down 9% from the previous quarter.
Operating costs exceeded revenue by $0.28B, an operating margin of -8.5%. Total costs grew 7% against revenue growth of 5%. The quarter ended with a net loss of $0.19B, after a profit of $0.02B the previous quarter.
Operating cash flow was $0.42B (down 8% year over year). Non-cash charges added back $0.20B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.39B. Capital expenditures of $0.03B left free cash flow of $0.39B.
Questions
What was Alaska Air Group's revenue in the first quarter 2026?
Alaska Air Group (ALK) reported revenue of $3.3B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -9% from the quarter before.
Was Alaska Air Group profitable in the first quarter 2026?
Operating loss was $279M (-8.5% of revenue) and net loss $193M.
Source: Alaska Air Group 10-Q on SEC EDGAR.