NASDAQ$SNCY
Sun Country Airlines Holdings Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported eighth consecutive profitable quarter with GAAP EPS of $0.03 and adjusted EPS of $0.06, despite a soft domestic revenue environment and late-June operational challenges.
Sun Country Airlines reported a net income of approximately $2 million and income before income tax of $3 million, on $254 million of revenue. GAAP operating income during the quarter was $12 million, while adjusted operating income was $14 million, operating margin was 4.9% and adjusted operating margin was 5.5%.
- Entered into a revised Air Transport Services Agreement with Amazon that includes an extension of the agreement through 2030 with options to further extend through 2037.
- The agreement also includes the addition of eight new freighter aircraft to our fleet and revised economics reflecting the realities of the post-pandemic cost environment.
- Launched a new mobile app to enhance the travel experience for Sun Country customers.
- Extended the selling schedule through April 29, 2025 which includes more than 55 nonstop destinations from Minneapolis-St Paul next winter.
Headline financials
Revenue & EPS history
Sun Country Airlines · Revenue · Quarterly
$254M
Revenue by segment
Sun Country Airlines · $249M total across 5 segments · Q3 2023
- Scheduled Service$96.5M-5.6%38.8%
- Ancillary$70.4M+40.1%28.3%
- Charter Service$47.4M+10.6%19.1%
- Cargo$26.1M+10.0%10.5%
- Other$8.46M+219.0%3.4%
Forward guidance
Guidance for Third Quarter 2024
Tailwinds
- Total revenue between $245 to $255 million.
- Total system block hours between 36.5 to 37.5 thousands, a 5% to 8% increase year-over-year.
Headwinds
- Operating income margin between 3% to 5%.
- Economic fuel cost per gallon of $2.82, an 11% decrease year-over-year.
- 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 2024
-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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