[8-K] Sun Country Airlines Holdings, Inc. Reports Material Event

Rhea-AI Filing Summary

Aptiv PLC (APTV) Q2 2025 10-Q highlights

• Sales: Q2 net sales rose 3 % YoY to $5.21 bn; YTD sales up 1 % to $10.03 bn.
• Profitability: Q2 operating income increased to $486 m (9.3 % margin) from $441 m. However, net income attributable to Aptiv fell to $393 m ($1.80 dil. EPS) versus $938 m last year, largely because the prior-year period included a $641 m equity-method gain (current period $46 m).
• Six-month results: Net income dropped to $382 m (EPS $1.70) from $1.16 bn; tax expense climbed to $401 m (vs. $127 m).
• Cash & liquidity: Cash & equivalents $1.45 bn (-$125 m YTD). Operating cash flow $783 m (-12 % YoY); capex cut to $346 m.
• Capital structure: Short-term debt reduced to $32 m (from $509 m); long-term debt slightly lower at $7.76 bn. 6-month share repurchases totaled $750 m, shrinking ordinary shares outstanding to 217.8 m (-7 % since Dec-24).
• Equity & AOCI: Accumulated other comprehensive loss improved by $460 m, driven by favorable FX and hedge movements.
• Strategic actions: Announced intention (Jan 22 2025) to spin off Electrical Distribution Systems into a separate public company by 31 Mar 2026; business realigned into three reportable segments.

Balance sheet totals as of 30 Jun 2025: Assets $23.94 bn; Liabilities $13.97 bn; Total equity $9.87 bn.

Positive

• Revenue grew 3 % YoY and operating income rose, indicating core business momentum.
• Gross leverage stable with short-term debt cut from $509 m to $32 m.
• AOCI improved by $460 m, strengthening equity.
• $750 m share repurchase reduced share count by 17.3 m shares, enhancing per-share metrics.
• Capex reduced by $145 m, supporting free cash flow.

Negative

• Net income down 58 % YoY; six-month net income down 67 %.
• Tax expense quadrupled YTD to $401 m, weighing on earnings.
• Operating cash flow fell 12 % YoY and cash balance declined $125 m.
• Spin-off of Electrical Distribution Systems adds execution and separation risk through FY 2026.

Insights

Sell-side Financial Analyst

TL;DR Net sales up, EPS down; spin-off announced; leverage steady—overall mixed.

Revenue growth and margin expansion signal resilient core operations despite a soft auto backdrop. Yet EPS collapsed 48 % YoY as last year’s one-off $641 m equity gain did not recur and tax expense surged. Cash generation remains solid; lower capex lifts FCF, while $750 m in buybacks shows confidence and supports EPS but reduced cash. Debt metrics stable (gross leverage ≈3.2× EBITDA). Planned spin-off of Electrical Distribution Systems could unlock value but introduces execution risk through 2026. Overall, filing is neutral: fundamentals intact, but headline earnings decline may pressure sentiment.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 31, 2025

Sun Country Airlines Holdings, Inc.

(Exact name of Registrant as specified in its charter)

Delaware			001-40217			82-4092570
(State of Incorporation)			(Commission File Number)			(I.R.S. Employer Identification No.)

2005 Cargo Road
Minneapolis, Minnesota			55450
(Address of principal executive offices)			(Zip Code)

(651) 681-3900

(Registrant’s telephone number, including area code)

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

SNCY

The Nasdaq Stock Market LLC

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02    Results of Operations and Financial Condition.

On July 31, 2025, Sun Country Airlines Holdings, Inc. issued a press release announcing its financial results for the fiscal quarter ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information contained in this Item 2.02, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act of 1934, as amended, regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.						Description
99.1						Press release, dated July 31, 2025
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: July 31, 2025			Sun Country Airlines Holdings, Inc.
			By:			/s/ Erin Rose Neale
						Name:			Erin Rose Neale
						Title:			Chief Legal Officer, Senior Vice President, and Corporate Secretary