Sun Country Airlines Holdings, Inc. (SNCY) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this company would post earnings of $0.04 per share when it actually produced earnings of $0.06, delivering a surprise of 50%. Over the last four quart ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-40217 Sun Country Airlines Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 82-4092570 (State or other jurisdiction of in ...

Revenue of $249 million, highest third quarter on record(1)GAAP diluted EPS of $0.04, operating income of $12 million and margin of 5.0%Adj. diluted EPS(2) of $0.06, adjusted operating income(2) of $14 million and margin of 5.6% MINNEAPOLIS, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Sun Country Airlines Holdings, Inc. (“Sun Country Airlines,” “Sun Country,” the “Company”) (NASDAQ: SNCY) today reported financial results for its third quarter ended September 30, 2024. “Sun Country is pleased to report our ninth conse ...

Three Months Ended September 30, | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------------------|-------|-------------------|---------------|---------------------| | (unaudited) (in millions, except per share amounts) \nAdjusted Operating Income | $ | 2024 \n13.9 $ | 2023 \n20.0 | % Change \n(30.8) | | Adjusted Income Before Income Tax | | 4.5 | 11.1 | (59.5) | | Adjusted Net Income | | 3.5 | 8.4 | (58.4) | | Adjusted diluted earnings per ...

Company Overview - Sun Country Airlines is a hybrid low-cost air carrier focused on connecting guests to their favorite destinations, aiming to create lifelong memories and transformative experiences [2] - The company operates a synergistic business model that includes scheduled service, charter, and cargo operations, dynamically deploying shared resources [2] - Based in Minnesota, Sun Country primarily serves leisure travelers and visiting friends and relatives (VFR) passengers, along with charter customers and cargo services for Amazon [2] Upcoming Earnings Call - Sun Country Airlines will hold its third quarter 2024 earnings call on October 31, 2024, at 8:30 a.m. Eastern Time [1] - Interested investors can access the live call and subsequent replay through the Sun Country investor relations website [1]

Company Overview - Sun Country Airlines Holdings, Inc. (SNCY) shares increased by 6.5% to $10.57 in the last trading session, following a significant trading volume, contrasting with a 14.9% loss over the past four weeks [1] - Wolfe Research analyst Scott Group upgraded SNCY's rating to a Buy, citing the company's unique operational model and financial performance [2] Financial Performance - SNCY is projected to report quarterly earnings of $0.02 per share, reflecting an 85.7% year-over-year decline. Expected revenues are $252.06 million, which is a 1.3% increase from the same quarter last year [2] - The consensus EPS estimate for SNCY has been revised down by 4.2% over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] Industry Context - Sun Country Airlines is part of the Zacks Transportation - Airline industry, where Copa Holdings (CPA) experienced a slight decline of 0.2% to $95.19 in the last trading session, with an 11.7% return over the past month [4] - Copa Holdings' consensus EPS estimate has increased by 0.7% over the past month to $3.44, representing a 21.6% decrease from the previous year [5]

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 decreased by 2.6% year-over-year to $254.4 million [9] - Passenger segment revenue fell by 5% year-over-year, with scheduled service revenue declining by 7.2% [9] - Average total fare per passenger dropped by 20.1% during the quarter [10] - Total operating expenses increased by 7.3% [13] - CASM (Cost per Available Seat Mile) declined by 5.1% year-over-year [13] - Total liquidity at the end of Q2 was $153 million [14] Business Line Data and Key Metrics Changes - Scheduled service departures grew over 15% year-on-year in June and July [4] - Charter revenue increased by 2.8% to $51 million, achieving a new quarterly high despite a 10.2% decline in charter block hours [11] - Cargo segment revenue grew by 1.7% to $25.4 million [12] Market Data and Key Metrics Changes - Domestic seat growth rate in Minneapolis peaked in July and is expected to decline, leading to less fare pressure [5] - Scheduled service ASMs (Available Seat Miles) are projected to grow by 7% to 8% year-over-year in Q3, down from earlier expectations of 15% [10] Company Strategy and Development Direction - The company plans to shift capacity aggressively into charter and cargo segments [6] - By 2026, revenue from the cargo segment is expected to reach nearly 20% of total revenue, up from approximately 10% in 2024 [9] - The company aims to maintain a low fixed-cost model to respond to demand fluctuations and industry shocks [4] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver industry-leading profitability despite challenges [4] - The company anticipates a strong winter season for leisure travel with mid-single-digit capacity growth planned [6] - Management noted that the competitive environment in Minneapolis is improving, with a peak growth rate observed in July [17] Other Important Information - The effective income tax rate increased significantly due to additional tax expenses related to stock compensation [14] - The company has no immediate need for incremental aircraft purchases until 2027 [14] Q&A Session Summary Question: Capacity cuts in the second half and CASM impact - Management acknowledged that while some resource reallocation is possible, it may not fully offset CASM impacts [16] Question: Liquidity and capital allocation - Management indicated that they do not need to build significant liquidity ahead of the cargo ramp due to predictable revenue streams [20] Question: Charter opportunities and operational lead time - Management stated that they can pivot quickly to charter opportunities and are optimistic about the upcoming fall season [22] Question: Aircraft ramp with Amazon and rate impacts - Management confirmed that the full impact of new Amazon contract rates will not be realized until the second half of 2025 [27] Question: Revenue composition and future growth - Management projected that cargo revenue could reach 35% to 40% by 2026, but not in 2025 [46][48]

Sun Country Airlines Holdings, Inc. (SNCY) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this company would post earnings of $0.69 per share when it actually produced earnings of $0.66, delivering a surprise of -4.35%. Over the last four qua ...

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of -85%. Estimate Revisions Trend The consensus EPS estimate for the quarter has been revised 20.41% lower over th ...

MINNEAPOLIS, July 23, 2024 (GLOBE NEWSWIRE) -- Sun Country Airlines (NASDAQ: SNCY) will hold its second quarter 2024 earnings call on Friday, August 2, 2024, at 8:30 a.m. Eastern Time. To access the live call and subsequent replay, interested investors and other parties can log on to the Sun Country investor relations website at https://ir.suncountry.com/news-events/events-and-presentations. They may also access the call by clicking on the link here which will provide a dial-in. About Sun Country For photos ...