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Dec 31, 2023
Sun Country Airlines Q4 2023 Earnings Report
Sun Country Airlines reported Q4 2023 results, achieving record revenue and solid cost control.
Key Takeaways
Sun Country Airlines reported a strong fourth quarter and full year 2023, marked by record revenue and solid cost control. The company's Q4 performance included a GAAP operating income margin of 7.0% and an adjusted operating income margin of 7.4%. For the full year, revenue exceeded $1 billion for the first time, with a GAAP operating income margin of 12.1% and an adjusted operating income margin of 13.0%.
Q4 2023 total revenue reached $245.5 million, the highest fourth quarter on record.
Q4 2023 GAAP diluted EPS was $0.10, and adjusted diluted EPS was $0.12.
FY 2023 total revenue was $1.05 billion, the highest full year on record.
FY 2023 GAAP diluted EPS was $1.23, and adjusted diluted EPS was $1.37.
Revenue by Segment
Forward Guidance
Sun Country Airlines provided guidance for the first quarter of 2024, including total revenue, economic fuel cost per gallon, operating income margin, effective tax rate and total system block hours.
Positive Outlook
- Total revenue between $310 to $320 million
- Total revenue growth of 5% to 9%
- Operating income margin between 17% to 21%
- Total system block hours between 38 to 39 thousands
- Total system block hours growth of 8% to 11%
Challenges Ahead
- Economic fuel cost per gallon of $3.00
- Economic fuel cost per gallon decrease of 13%
- Operating income margin decrease of (3pp) to 1pp
- Effective tax rate of 23%
- No further negatives provided
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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