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Jun 30, 2023
Sun Country Airlines Q2 2023 Earnings Report
Sun Country Airlines had a historically strong second quarter with revenue up and EPS of $0.35 reported.
Key Takeaways
Sun Country Airlines reported a strong second quarter with a 19.2% increase in total revenue compared to the previous year. The company achieved a GAAP operating margin of 13.6% and an adjusted operating margin of 15.3%. Revenue growth was seen across scheduled service, charter, and cargo businesses.
Total revenue was up by 19.2% versus the second quarter 2022.
GAAP operating margin of 13.6% and an adjusted operating margin of 15.3% were achieved.
Total average fare increased 2.7% and load factor was up by 2 percentage points versus the second quarter of 2022.
Board of directors authorized an additional $30 million for repurchases of Sun Country shares.
Revenue by Segment
Forward Guidance
Sun Country Airlines provided guidance for the third quarter of 2023, including total revenue between $240 million and $250 million, economic fuel cost per gallon of $2.90, and an operating income margin between 6% and 11%.
Positive Outlook
- Total revenue between $240 million and $250 million (8% to 13% increase vs Q3 2022)
- Economic fuel cost per gallon of $2.90 (26% decrease)
- Total system block hours between 34,500 and 35,500 (13% to 16% increase)
Challenges Ahead
- Operating income margin between 6% and 11% (1 to 4 percentage point decrease)
- Effective tax rate of 23%
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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