Sun ntry Airlines (US:SNCY)2025-10-30 19:43Operational Performance - For the three months ended September 30, 2025, total departures increased to 14,345 from 13,730 in the same period of 2024, representing a growth of approximately 4.5%[95] - Revenue passenger miles (RPMs) for the nine months ended September 30, 2025, were 4,137,592 thousand, compared to 4,335,623 thousand in the same period of 2024, indicating a decrease of about 4.6%[96] - The load factor for the three months ended September 30, 2025, was 84.8%, slightly up from 84.2% in the same period of 2024[95] - Average base fare per passenger increased to $76.90 in Q3 2025 from $75.31 in Q3 2024, reflecting a rise of approximately 2.1%[95] Revenue and Income - Total Operating Revenues increased by $6,068, or 2%, to $255,538 for the three months ended September 30, 2025, compared to the same period in 2024[101] - Passenger revenue decreased by $6,666, or 3%, to $201,098 for the three months ended September 30, 2025, primarily due to reduced capacity[102] - Cargo revenue increased by $14,858, or 51%, to $44,023 for the three months ended September 30, 2025, driven by additional aircraft and contractual rate increases[104] - Operating Income decreased by $2,480, or 20%, to $9,902 for the three months ended September 30, 2025[101] - Net Income increased by $5,197, or 13%, to $44,664 for the nine months ended September 30, 2025[120] Expenses - Salaries, Wages, and Benefits expense increased by $12,174, or 15%, to $93,093 for the three months ended September 30, 2025, due to an increase in employee headcount and contractual rate increases[108] - Aircraft Fuel expense decreased by $6,154, or 11%, to $48,583 for the three months ended September 30, 2025, due to a decrease in fuel cost per gallon and fuel consumption[107] - Total Operating Expenses increased by $27,987, or 4%, to $763,398 for the nine months ended September 30, 2025[120] - Aircraft Fuel expense decreased by $23,491, or 13%, to $163,738, driven by an 11% decrease in average fuel cost per gallon[127] Employee and Fleet Information - The number of employees at the end of the period increased to 3,279 in Q3 2025 from 2,965 in Q3 2024, representing a growth of approximately 10.6%[96] - The fleet consisted of 70 Boeing 737-NG aircraft, including 45 passenger aircraft and 20 cargo aircraft as of September 30, 2025[174] Financial Ratios and Metrics - Adjusted cost per available seat mile (CASM) for the three months ended September 30, 2025, was 8.46 cents, compared to 8.04 cents in the same period of 2024, indicating an increase of about 5.2%[95] - Adjusted operating income for the three months ended September 30, 2025, was $12,351,000, with an adjusted operating income margin of 4.8%[152] - Adjusted Net Income for Q3 2025 was $3,739,000, a 7.2% increase from $3,489,000 in Q3 2024[155] Cash and Liquidity - As of September 30, 2025, the company had cash and cash equivalents of $111,834,000 and short-term investments of $64,391,000[169] - Total liquidity as of September 30, 2025, was $298,729, up from $205,598 as of December 31, 2024[182] - Total debt, net, decreased to $301,290 as of September 30, 2025, from $327,122 as of December 31, 2024[182] Capital Expenditures and Share Repurchase - Capital expenditures for the nine months ended September 30, 2025, were $29,140, down 32% from $42,615 in 2024[188] - The company repurchased 1,474,021 shares of common stock at a weighted-average price of $13.58 per share during the nine months ended September 30, 2025[192] Tax and Interest - The effective tax rate increased to 28.3% for the three months ended September 30, 2025, compared to 22.0% for the same period in 2024[119] - Interest Expense decreased by $1,864, or 17%, to $9,185 for the three months ended September 30, 2025, due to reduced debt balances and refinancing[118]