Sun Country Airlines Holdings, Inc. ( (SNCY) ) has released its Q3 earnings. Here is a breakdown of the information Sun Country Airlines Holdings, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Sun Country Airlines Holdings, Inc. operates as a hybrid low-cost air carrier, providing scheduled passenger service, charter flights, and cargo operations, primarily serving leisure and visiting friends and relatives markets across the U.S., Mexico, Central America, Canada, and the Caribbean.
Sun Country Airlines has reported record third-quarter revenue of $249 million, despite challenges such as the Crowdstrike outage and hurricanes impacting operations. The company managed to maintain profitability for the ninth consecutive quarter, with a GAAP diluted EPS of $0.04 and an adjusted EPS of $0.06.
Key financial metrics for the third quarter include a GAAP operating income of $12 million and an adjusted operating income of $14 million, reflecting a margin of 5.6%. The company’s diversified business model played a crucial role, with robust growth in charter and cargo businesses offsetting weaker scheduled service revenue. Cargo revenue increased by 11.9% year-over-year, while charter revenue saw a growth of 7.0%.
Looking ahead, Sun Country Airlines anticipates continued strength in its charter and cargo segments. The company is preparing to expand its cargo fleet in 2025, aligning with the expected strong first-quarter passenger demand. Management remains committed to optimizing scheduled service capacity and anticipates a moderate growth in scheduled service ASMs in the coming quarter.
