Filing Flows › Alaska Air Group (ALK) › Q3 2025
Alaska Air Group (ALK) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Alaska Air Group (ALK) reported revenue of $3.8B for the third quarter 2025 (Q3 2025), +23% from a year earlier and +2% from the quarter before. Operating margin was 3.9%, net earnings $73.0M (1.9% of revenue).
Alaska Air Group, Q3 2025: revenue $3.8B (+23% year over year), operating margin 3.9%, net earnings $73.0M, operating cash flow $229M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | +2% | +23% |
| Operating profit | $148M | -47% | -57% |
| Net earnings | $73.0M | -58% | -69% |
| Operating cash flow | $229M | -39% | -28% |
| Free cash flow | $138M | -52% | -47% |
What changed
Revenue was $3.8B in Q3 2025, up 23% year over year and up 2% from the previous quarter.
Operating profit was $0.15B, a 3.9% margin (down 7.2 points year over year). Operating profit fell $0.19B even though revenue rose $0.69B versus a year earlier, so costs grew faster than sales. Total costs grew 32% against revenue growth of 23%. The fastest-growing cost line was Other operating costs (+33%). Net earnings were $0.07B, down 69% year over year. The effective tax rate was 34.2%.
Operating cash flow was $0.23B (down 28% year over year), 314% of net earnings. Non-cash charges added back $0.20B of depreciation and amortization. Working capital and other items used $0.05B. Capital expenditures of $0.09B left free cash flow of $0.14B.
Questions
What was Alaska Air Group's revenue in the third quarter 2025?
Alaska Air Group (ALK) reported revenue of $3.8B for the third quarter 2025 (Q3 2025), +23% from a year earlier and +2% from the quarter before.
Was Alaska Air Group profitable in the third quarter 2025?
Operating profit was $148M (3.9% of revenue) and net earnings $73.0M.
Source: Alaska Air Group 10-Q on SEC EDGAR.