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Sun Country Airlines reported record-high revenue of $311 million for the first quarter of 2024, with GAAP diluted EPS of $0.64. The company's adjusted diluted EPS was $0.66, achieving adjusted operating income of $57 million. Sun Country's total revenue saw a 5.9% increase from the previous year, with strong growth in block hours and scheduled passenger service ASMs. Notable highlights include extending the selling schedule, acquiring three aircraft, and repurchasing $11.5 million worth of SNCY shares. The company's balance sheet remains healthy, with total liquidity of $179 million and net debt of $565 million. Fleet expansion continues with 44 passenger aircraft and 12 freighter aircraft. Guidance for the second quarter of 2024 includes total revenue between $255 to $265 million.
Sun Country Airlines (SNCY) will host its first quarter 2024 earnings call on May 7, 2024, at 8:30 a.m. Eastern Time. Investors can access the call and replay through the Sun Country investor relations website.