Filing Flows › Alaska Air Group (ALK) › Q2 2025
Alaska Air Group (ALK) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Alaska Air Group (ALK) reported revenue of $3.7B for the second quarter 2025 (Q2 2025), +28% from a year earlier and +18% from the quarter before. Operating margin was 7.5%, net earnings $172M (4.6% of revenue).
Alaska Air Group, Q2 2025: revenue $3.7B (+28% year over year), operating margin 7.5%, net earnings $172M, operating cash flow $376M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | +18% | +28% |
| Operating profit | $277M | — | -14% |
| Net earnings | $172M | — | -22% |
| Operating cash flow | $376M | -18% | -35% |
| Free cash flow | $290M | -30% | -40% |
What changed
Revenue was $3.7B in Q2 2025, up 28% year over year and up 18% from the previous quarter.
Operating profit was $0.28B, a 7.5% margin (down 3.6 points year over year). Operating profit fell $0.04B even though revenue rose $0.81B versus a year earlier, so costs grew faster than sales. Total costs grew 33% against revenue growth of 28%. The fastest-growing cost line was Other operating costs (+33%). Net earnings were $0.17B, down 22% year over year. The effective tax rate was 27.7%.
Operating cash flow was $0.38B (down 35% year over year), 219% of net earnings. Non-cash charges added back $0.20B of depreciation and amortization. Capital expenditures of $0.09B left free cash flow of $0.29B.
Questions
What was Alaska Air Group's revenue in the second quarter 2025?
Alaska Air Group (ALK) reported revenue of $3.7B for the second quarter 2025 (Q2 2025), +28% from a year earlier and +18% from the quarter before.
Was Alaska Air Group profitable in the second quarter 2025?
Operating profit was $277M (7.5% of revenue) and net earnings $172M.
Source: Alaska Air Group 10-Q on SEC EDGAR.