NASDAQ$SNCY
Sun Country Airlines Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Sun Country Airlines had a historically strong second quarter with revenue up and EPS of $0.35 reported.
Sun Country Airlines reported a strong second quarter with a 19.2% increase in total revenue compared to the previous year. The company achieved a GAAP operating margin of 13.6% and an adjusted operating margin of 15.3%. Revenue growth was seen across scheduled service, charter, and cargo businesses.
- Total revenue was up by 19.2% versus the second quarter 2022.
- GAAP operating margin of 13.6% and an adjusted operating margin of 15.3% were achieved.
- Total average fare increased 2.7% and load factor was up by 2 percentage points versus the second quarter of 2022.
- Board of directors authorized an additional $30 million for repurchases of Sun Country shares.
Headline financials
Revenue & EPS history
Sun Country Airlines · Revenue · Quarterly
$261M
Revenue by segment
Sun Country Airlines · $261M total across 5 segments · Q2 2023
- Scheduled Service$111M+2.8%42.7%
- Ancillary$66.8M+51.1%25.6%
- Charter Service$49.6M+16.1%19.0%
- Cargo$25M+18.1%9.6%
- Other$8.2M+226.2%3.1%
Forward guidance
Sun Country Airlines provided guidance for the third quarter of 2023, including total revenue between $240 million and $250 million, economic fuel cost per gallon of $2.90, and an operating income margin between 6% and 11%.
Tailwinds
- Total revenue between $240 million and $250 million (8% to 13% increase vs Q3 2022)
- Economic fuel cost per gallon of $2.90 (26% decrease)
- Total system block hours between 34,500 and 35,500 (13% to 16% increase)
Headwinds
- Operating income margin between 6% and 11% (1 to 4 percentage point decrease)
- Effective tax rate of 23%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
-0.5%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-1.7%
Avg return
30 days after
65%
17 / 26 earnings
Positive
+13.3%
Q3 2022
Best reaction
-22.0%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | +6.8% | — | |
| Q4 2025 | +12.6% | +7.6% | -16.3% | |
| Q3 2025 | +6.5% | +12.4% | +29.1% | |
| Q2 2025 | -11.0% | -8.9% | +14.3% | |
| Q1 2025 | +0.3% | +14.7% | +18.2% | |
| Q4 2024 | -0.9% | +8.3% | -8.0% | |
| Q3 2024 | +11.7% | +14.6% | +14.4% | |
| Q2 2024 | -15.8% | -18.0% | -16.2% | |
| Q1 2024 | -19.3% | -18.1% | -25.3% | |
| Q4 2023 | +6.3% | +1.0% | +8.8% | |
| Q3 2023 | -3.6% | -2.9% | +32.3% | |
| Q2 2023 | -22.0% | -24.8% | -29.1% | |
| Q1 2023 | +8.1% | -2.6% | +0.7% | |
| Q4 2022 | +12.5% | +13.1% | +8.3% | |
| Q3 2022 | +13.3% | +16.3% | +24.1% | |
| Q2 2022 | -10.9% | -4.9% | +0.4% | |
| Q1 2022 | -11.5% | -15.8% | -26.2% | |
| Q4 2021 | +4.2% | +8.6% | -7.9% | |
| Q3 2020 | +1.0% | +8.2% | -15.6% | |
| Q3 2021 | +1.0% | +8.2% | -15.6% | |
| Q2 2020 | +0.4% | -4.8% | -4.3% | |
| Q2 2021 | +0.4% | -4.8% | -4.3% | |
| Q1 2020 | +1.9% | -5.9% | -6.5% | |
| Q4 2020 | +1.9% | -5.9% | -6.5% | |
| Q4 2019 | +1.9% | -5.9% | -6.5% | |
| Q1 2021 | -4.5% | -2.0% | -3.5% | |
| Q1 2019 | — | — | — | |
| Q1 2018 | — | — | — |
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