Shares have lost about 14.8% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Allegiant Travel due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Earnings Beat at Allegiant in Q2Allegiant's second-quarter 2024 earnings of $1.77 per share beat Zacks Consensus Estimate of 84 cents but declined 59.3% year over year.