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Jun 30, 2022
Sun Country Airlines Q2 2022 Earnings Report
Reported financial results for the second quarter ended June 30, 2022.
Key Takeaways
Sun Country Airlines reported a net loss of $4 million on $219 million of revenue. GAAP operating income during the quarter was $3 million, producing an operating margin of 1.5%, while adjusted operating income was $4 million, resulting in an adjusted operating income margin of 1.8%.
Scheduled service TRASM in the quarter was up 29% versus the second quarter 2019 and 13% sequentially versus first quarter 2022.
Generated a positive operating profit of $3.4 million and an adjusted operating profit of $4 million despite fuel prices averaging $4.39 per gallon during the quarter.
Scheduled service TRASM was 44% higher than in 2019 and generated a GAAP operating margin of almost 8% during the month of June.
Adding a third aircraft to its charter service for Caesars Entertainment in October 2022
Revenue by Segment
Forward Guidance
Guidance for Third Quarter 2022
Positive Outlook
- Total revenue - millions: $215 to $220
- Total revenue H/(L) vs Q3 2019: 25% to 28%
- Economic fuel cost per gallon: $3.84
- Operating income margin - percentage: 3% - 5%
- Total system block hours - thousands: 31 to 32
Challenges Ahead
- Effective tax rate: 23%
- Total system block hours H/(L) vs Q3 2019: 17% to 21%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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