Sun Country Airlines reports Q1 adjusted EPS 66c, consensus 68c

Reports Q1 revenue $311M, consensus $316.26M. “Sun Country’s diversified business model produced another strong first quarter with margins that we expect to finish at the top of the industry,” said Jude Bricker, Chief Executive Officer of Sun Country. “Total revenue was up 5.9% versus the first quarter of 2023, reaching a record quarterly high of $311 million while costs remained in check. We continue to grow in all areas of our business, with total block hours growing by nearly 10% and scheduled passenger service ASMs growing by over 16%. Total passenger revenue per ASM declined by 9.6%, driven by both our growth as well as significant capacity additions by other airlines in some of our markets. Our strong results would not have been possible without our dedicated employees who delivered the number one completion factor in the industry during the quarter.”