Sun Country Airlines (SNCY) Q1 2025 Earnings Call May 02, 2025 08:30 AM ET Company Participants Chris Allen - Director, IRJude Bricker - CEO & DirectorBill Trousdale - SVP, Interim CFO & Principal Financial and Accounting OfficerDuane Pfennigwerth - Senior MDMichael Linenberg - Managing DirectorTom Fitzgerald - VP - Equity ResearchCatherine O'Brien - Vice PresidentGrant Whitney - SVP & Chief Revenue OfficerJames Kirby - Vice PresidentRyan Capozzi - Senior Associate Conference Call Participants Brandon Oglen ...

Sun Country Airlines (SNCY) Q1 2025 Earnings Call May 02, 2025 08:30 AM ET Company Participants Chris Allen - Director, IRJude Bricker - CEO & DirectorBill Trousdale - SVP, Interim CFO & Principal Financial and Accounting OfficerDuane Pfennigwerth - Senior MDMichael Linenberg - Managing DirectorTom Fitzgerald - VP - Equity ResearchCatherine O'Brien - Vice PresidentGrant Whitney - SVP & Chief Revenue OfficerJames Kirby - Vice PresidentRyan Capozzi - Senior Associate Conference Call Participants Brandon Oglen ...

Sun Country Airlines (SNCY) Q1 2025 Earnings Call May 02, 2025 08:30 AM ET Speaker0 and welcome to the Sun Country Airlines First Quarter twenty twenty five Earnings Call. My name is Carmen, and I will be your operator for today's call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. Please be advised that today's conference is being recorded. I will now turn the call over to Chris Allen, Director of Investor Relations. ...

Financial Performance - Sun Country Airlines reported total revenue of $327 million for Q1 2025, marking a 4.9% increase compared to Q1 2024 [3][7] - The company achieved GAAP diluted EPS of $0.66 and adjusted diluted EPS of $0.72, reflecting a year-over-year increase of 3.1% and 9.1% respectively [3][39] - GAAP operating income was $56 million with a margin of 17.2%, while adjusted operating income reached $60 million with a margin of 18.3% [3][4] Business Segments - Growth in charter and cargo businesses helped offset lower scheduled service revenue, demonstrating the effectiveness of the company's diversified business model [2][4] - Charter service revenue increased by 15.6% year-over-year to $55 million, while cargo revenue rose by 17.6% to $28 million [7][8] Cost and Expenses - Total GAAP operating expenses increased by 5.5% year-over-year, primarily due to a 5.8% rise in total block hours [9] - Significant non-fuel expenses included a 12.9% increase in salaries, driven by an increase in pilot headcount and wage scale adjustments [9] Capacity and Operations - System block hours flown grew by 5.8% year-over-year, with a 6.7% increase in scheduled service ASMs and a 10.7% increase in charter block hours [6] - Scheduled service TRASM decreased by 4.7% year-over-year, while the total fare per scheduled passenger increased by 1.0% [7][27] Liquidity and Financial Position - Total liquidity as of March 31, 2025, was $227 million, with net debt at $447 million [12][28] - The company completed a secondary public offering and entered into a four-year $75 million revolving credit facility [11][12] Future Outlook - For Q2 2025, the company expects total revenue between $250 million and $260 million, with an operating income margin projected between 4% and 7% [15]

Group 1 - Sun Country Airlines will hold its first quarter 2025 earnings call on May 2 at 8:30 a.m. Eastern Time [1] - Interested investors can access the live call and replay through the Sun Country investor relations website [1] - The company is a hybrid low-cost air carrier focused on connecting guests to leisure destinations and providing cargo services [2] Group 2 - Sun Country Airlines operates scheduled service, charter, and cargo businesses, dynamically deploying shared resources [2] - The airline is based in Minnesota and primarily serves leisure and visiting friends and relatives (VFR) passengers [2] - Sun Country provides cargo service to Amazon and operates flights throughout the United States and to destinations in Mexico, Central America, Canada, and the Caribbean [2]