Sun ntry Airlines (US:SNCY)2025-10-29 20:07Financial Performance - Total operating revenue for Q3 2025 was $255.5 million, a 2.4% increase compared to Q3 2024[3] - GAAP diluted EPS for Q3 2025 was $0.03, while adjusted diluted EPS was $0.07, reflecting a 16.7% increase year-over-year[4] - Operating income for Q3 2025 was $9.9 million, with an operating margin of 3.9%[4] - Net income for Q3 2025 decreased by 33.7% to $1.552 million compared to $2.342 million in Q3 2024[24] - Operating income for Q3 2025 was $9.902 million, down 20.0% from $12.382 million in Q3 2024[24] - Total operating revenue for the nine months ended September 30, 2025, was $845.808 million, a 3.7% increase from $815.334 million in the same period of 2024[25] - Net income for the nine months ended September 30, 2025, increased to $44.7 million, a 13.2% rise from $39.5 million in the same period of 2024[40] Revenue Breakdown - Cargo revenue reached $44 million, a 50.9% increase from Q3 2024, driven by a 33.7% increase in cargo block hours[8] - Cargo revenue increased by 50.9% to $44.023 million in Q3 2025, compared to $29.165 million in Q3 2024[24] - The company reported a 12.4% increase in charter revenue for the nine months ended September 30, 2025, totaling $167.636 million compared to $149.090 million in 2024[25] Expenses and Costs - Total operating expenses for Q3 2025 rose by 3.6% to $245.636 million from $237.088 million in Q3 2024[24] - Adjusted CASM for Q3 2025 was $8.46, slightly higher than $8.04 in Q3 2024, while CASM increased to 13.87 cents from 12.58 cents[49] Passenger Metrics - Scheduled service revenue passenger miles (RPMs) decreased by 9.6% to 1,165,182 thousand in Q3 2025 from 1,288,460 thousand in Q3 2024[27] - Revenue passenger miles (RPMs) decreased by 4.6% to 4,137,592 thousands compared to 4,335,623 thousands in 2024[28] - Load factor declined to 83.3% from 85.0%, a decrease of 1.7 percentage points[28] - Average base fare per passenger increased by 2.1% to $76.90 in Q3 2025 from $75.31 in Q3 2024[27] - Average base fare per passenger increased by 5.0% to $95.62 from $91.08[28] Liquidity and Debt - Total liquidity as of September 30, 2025, was $299 million, with net debt at $406 million[11] - Net cash provided by operating activities increased by 5.2% to $78.2 million from $74.3 million[30] - Total current assets grew by 6.8% to $284.8 million from $266.6 million[29] - Total stockholders' equity increased by 7.0% to $610.2 million from $570.4 million[29] - Net cash used in financing activities decreased by 22.4% to $71.0 million from $91.5 million[30] Stock and Shareholder Actions - The company completed $10 million in stock repurchases during the quarter, with $15 million in share repurchase authority remaining[2] - The diluted share count for Q3 2025 was 54.7 million, compared to 54.8 million in Q3 2024[39] Future Outlook - The company expects total revenue for Q4 2025 to be between $270 million and $280 million, representing a 4% to 8% increase compared to Q4 2024[14] Other Notable Events - The company launched the Sun Country Visa Signature credit card and introduced a new loyalty tier, Sun Country Rewards Plus Status[9] - The company recognized a non-cash expense of $737,000 due to an unplanned engine retirement in July 2025[42] - Interest expense for Q3 2025 was $9.2 million, down from $11.0 million in Q3 2024[42] - Stock compensation expense for the nine months ended September 30, 2025, was $4.9 million, up from $4.6 million in the same period of 2024[40] - Cargo aircraft increased by 66.7% to 20 units from 12 units[28] - Adjusted EBITDA for Q3 2025 was $36.3 million, with an adjusted EBITDA margin of 14.2%, compared to $37.6 million and 15.1% in Q3 2024[42]