NASDAQ$ULCC
Frontier Group Holdings Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported financial results with revenue increase but adjusted pre-tax loss, while also issuing forward guidance.
Frontier Group Holdings reported a 6% increase in total operating revenues to $935 million for Q3 2024 compared to Q3 2023. Despite the revenue growth, the company experienced a pre-tax income of $27 million, with an adjusted pre-tax loss of $10 million. The company enhanced liquidity by $205 million through a new revolving credit facility and expanded PDP financing capacity by $113 million.
- Total operating revenues increased by 6% to $935 million.
- RASM was 9.28 cents, a 2% increase year-over-year.
- The company closed a new revolving credit facility, enhancing liquidity by $205 million.
- Took delivery of five A321neo aircraft during the quarter.
Headline financials
Revenue & EPS history
Frontier · Revenue · Quarterly
$935M
Revenue by segment
Frontier · $883M total across 2 segments · Q3 2023
- Passenger$862M-2.4%97.6%
- Other$21M-8.7%2.4%
Forward guidance
The Company expects positive stage-adjusted year-over-year RASM in the fourth quarter, notwithstanding hurricane-related impacts - supported by continued moderation in capacity growth and further progress on recently deployed network and revenue initiatives.
Tailwinds
- Positive stage-adjusted year-over-year RASM expected in Q4.
- Continued moderation in capacity growth.
- Further progress on recently deployed network and revenue initiatives.
- Average fuel price per gallon is expected to be in the range of $2.40 to $2.50
- Effective tax rate is expected to be 10 percent
Headwinds
- Hurricane Milton flight cancellations and demand softness are expected to negatively impact Q4 adjusted pre-tax margin by approximately 2%.
- Adjusted total operating expenses (excluding fuel) are expected to include approximately $10 million of cost inefficiencies from hurricane-related impacts and temporary excess crew-related costs due to capacity reductions.
- Capacity is expected to decline by (2) to (3) percent over the comparable 2023 quarter.
- Adjusted (non-GAAP) pre-tax margin (excluding special items) is expected to be 0 to 2 percent, including storm-related impacts.
- Lower off-peak day-of-week capacity in the fourth quarter, which more closely aligns with demand trends.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+2.4%
Avg return
Earnings day
+2.8%
Avg return
5 days after
+0.4%
Avg return
30 days after
56%
14 / 25 earnings
Positive
+33.8%
Q4 2023
Best reaction
-18.4%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +10.5% | +15.1% | +35.7% | |
| Q4 2025 | -7.9% | -10.2% | -43.5% | |
| Q3 2025 | +0.3% | -1.6% | +34.3% | |
| Q1 2025 | +7.6% | +12.2% | +29.3% | |
| Q4 2024 | +15.5% | +14.3% | -17.9% | |
| Q3 2024 | -14.0% | -17.9% | -21.7% | |
| Q2 2024 | +0.6% | -1.0% | +21.0% | |
| Q1 2024 | -1.4% | +2.7% | -6.3% | |
| Q4 2023 | +33.8% | +47.0% | +45.8% | |
| Q3 2023 | -1.0% | -11.7% | +5.2% | |
| Q2 2023 | -9.7% | -13.0% | -32.5% | |
| Q1 2023 | -18.4% | -13.6% | -2.5% | |
| Q4 2022 | -15.0% | -16.5% | -21.8% | |
| Q3 2022 | +19.7% | +32.2% | +35.7% | |
| Q2 2022 | +28.2% | +32.1% | +21.8% | |
| Q1 2022 | +1.5% | +0.8% | +0.0% | |
| Q4 2019 | +3.3% | +2.1% | -10.3% | |
| Q4 2021 | +7.3% | +10.2% | -12.8% | |
| Q3 2021 | -3.5% | -2.9% | -18.2% | |
| Q3 2020 | -3.5% | -2.9% | -18.2% | |
| Q2 2021 | +0.0% | -2.6% | +3.4% | |
| Q2 2020 | +0.0% | -2.6% | +3.4% | |
| Q1 2021 | +1.9% | -0.6% | -6.7% | |
| Q4 2020 | +1.9% | -0.6% | -6.7% | |
| Q1 2020 | +1.9% | -0.6% | -6.7% | |
| Q1 2017 | — | — | — | |
| Q1 2016 | — | — | — |
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