Sun Country Airlines Holdings, Inc. Stock Price, News & Analysis

Sun Country Airlines (NASDAQ: SNCY) reported its Q2 2024 financial results, marking its eighth consecutive profitable quarter. Despite challenges, the company achieved:

- Revenue of $254 million, down 2.6% year-over-year
- GAAP diluted EPS of $0.03
- Adjusted diluted EPS of $0.06
- Operating income of $12 million with a 4.9% margin
- Adjusted operating income of $14 million with a 5.5% margin

The company's diversified model continues to drive performance. Notable highlights include a revised agreement with Amazon, extending through 2030 with options until 2037, and the addition of eight new freighter aircraft. Sun Country also launched a new mobile app and expanded international service from Milwaukee.

Sun Country Airlines (NASDAQ: SNCY) has announced that it will hold its second quarter 2024 earnings conference call on Friday, August 2, 2024, at 8:30 a.m. Eastern Time. This event provides an opportunity for investors and other interested parties to gain insights into the company's financial performance and operational updates.

To participate in the live call and access the subsequent replay, individuals can visit the Sun Country investor relations website at https://ir.suncountry.com/news-events/events-and-presentations. Alternatively, a dial-in option is available through a provided link. This earnings call is a important event for stakeholders to stay informed about the airline's progress and future outlook.

Sun Country Airlines (NASDAQ: SNCY) is set to hold a call to present a business update and second quarter performance review on Friday, June 21, 2024, at 12:30 p.m. Eastern Time. Investors and other interested parties can access the live call and subsequent replay through the company's investor relations website. The call will provide insights into the company's recent performance and future outlook.

Sun Country Airlines (NASDAQ: SNCY) has signed an amended and restated Air Transport Services Agreement with Amazon, extending their partnership through 2030, with options to extend further to 2037. This revised agreement will see Sun Country operating up to eight additional Boeing 737-800 cargo aircraft beginning in early 2025. This expansion will increase the airline's cargo fleet from 12 to 20 aircraft, with all new planes expected to be operational by the third quarter of 2025. Sun Country's CEO, Jude Bricker, highlighted the importance of Amazon as a customer and expressed confidence in the continued growth of their cargo operations.

Sun Country Airlines (NASDAQ: SNCY) has launched a new mobile app to improve the travel experience for its customers. Available on both Apple and Google Play stores, the app allows travelers to book flights, check-in, use mobile boarding passes, and manage trips. This launch is part of Sun Country's multi-year investment in digital enhancements, following their 2019 shift to a low-cost, leisure travel-focused carrier. The app aims to provide a seamless travel experience, especially for the anticipated busy 2024 summer season. New digital tools, including self-service options for delays, are also highlighted.

Sun Country Airlines (NASDAQ: SNCY) has extended its selling schedule through April 29, 2025, allowing customers to book winter and spring break travel. The 2025 winter season will feature more than 55 nonstop destinations from Minneapolis-St. Paul International Airport (MSP), marking the airline's largest winter schedule to date. Highlights include increased service to popular destinations like Florida, the Caribbean, Central America, and Mexico, with new seasonal routes from Milwaukee to Punta Cana and Montego Bay. Additionally, the airline will enhance its onboard experience with state-of-the-art seating and in-flight entertainment.

Sun Country Airlines (NASDAQ: SNCY) President and Chief Financial Officer will participate in a fireside chat at the B of A Securities Transportation, Airlines and Industrials Conference on May 16. For more information, visit the Sun Country investor relations website.

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.