Welcome to our dedicated page for Sun Country Airlines Holdings news (Ticker: SNCY), a resource for investors and traders seeking the latest updates and insights on Sun Country Airlines Holdings stock.
Sun Country Airlines Holdings, Inc. (SNCY) is a Minneapolis/St. Paul, Minnesota-based airline renowned for its world-class service and affordability. The company operates as a low-cost air carrier with two core business segments: Passenger and Cargo. Within the Passenger segment, Sun Country Airlines offers both Scheduled Service and Charter Service, catering to leisure travelers and groups alike. The Cargo segment, meanwhile, provides air cargo services with a significant partnership with Amazon. Sun Country Airlines covers popular destinations across the U.S., Mexico, Central America, Canada, and the Caribbean.
Established as a hometown carrier, the airline has earned high praise, including a spot in Conde Nast Traveler's Top 10 domestic airlines. The company also offers a spectrum of vacation packages through Sun Country Vacations, which allows travelers to book flights, hotels, rental cars, and more in a single transaction. Beyond this, Sun Country Charters provides customized and reliable charter experiences, ensuring on-time performance and dependable maintenance.
In recent financial updates, Sun Country Airlines has shown robust performance. For the third quarter ended September 30, 2023, the company reported a net income of $8 million on $249 million in revenue. This performance was bolstered by a 12.3% year-over-year revenue increase, driven by strong operational results across scheduled services, charter services, and cargo operations. The company produced a GAAP operating income of $19 million and an adjusted operating income of $20 million, reflecting a 7.6% operating margin and an 8.1% adjusted operating margin.
Notably, Sun Country Airlines continues to focus on growth, with block hours flown in the third quarter of 2023 up by 14.4% year-over-year. The company has also been proactive in repurchasing shares, with the board authorizing an additional $25 million for share repurchases, on top of the $80 million already used for this purpose since November 2022.
As of the first quarter of 2024, Sun Country Airlines reported a revenue of $311 million, with net income at $35 million. The company continues to exhibit strong margins and cost control, supported by a dedicated workforce and strategic growth initiatives. This consistent performance has placed Sun Country Airlines among the industry's strong performers, with a focus on maintaining a healthy balance sheet and investing in fleet expansion to support future growth.
Sun Country Airlines (NASDAQ: SNCY) announced that President and Chief Financial Officer Dave Davis will participate in a fireside chat at the Barclays Industrial Conference on Thursday, February 20 at 11:00AM EST. The event will be accessible via live webcast through the company's investor relations website.
Sun Country Airlines (NASDAQ: SNCY) announced the pricing of a secondary public offering of 6,346,105 shares of common stock by an Apollo Global Management affiliate (the Selling Stockholder), representing their entire remaining stake in the company. The offering is expected to close on February 11, 2025.
Concurrent with the offering, Sun Country will purchase approximately $10 million worth of shares from the underwriters at the same price, funded from existing cash. The company itself is not selling any shares and will not receive proceeds from the offering.
Barclays and Morgan Stanley are serving as joint bookrunners and underwriters for the offering, which will be conducted through various methods including direct sales, brokerage transactions, and negotiated deals on the Nasdaq Global Select Market.
Sun Country Airlines (NASDAQ: SNCY) announced a secondary public offering of 6,346,105 shares of common stock by an affiliate of Apollo Global Management funds (the Selling Stockholder). This represents all remaining shares owned by the Selling Stockholder. Sun Country Airlines will not receive any proceeds from this offering as it's not selling any shares.
Concurrent with the offering, Sun Country Airlines has authorized a $10 million share repurchase from the underwriters at the same price they purchase from the Selling Stockholder, funded from existing cash. Barclays and Morgan Stanley are acting as joint bookrunners and underwriters for the proposed offering.
Sun Country Airlines (NASDAQ: SNCY) reported its Q4 and full year 2024 results, achieving record fourth quarter revenue of $260.4 million, up 6.1% year-over-year. Q4 GAAP diluted EPS was $0.24 with an operating income margin of 10.0%, while adjusted diluted EPS reached $0.27.
Full year 2024 revenue hit a record $1.08 billion, though net income decreased 26.7% to $52.9 million compared to 2023. The company's cargo business showed strong performance, with Q4 cargo revenue reaching a record high at $28.6 million, up 13.1% despite a 2.5% decline in cargo block hours.
Looking ahead to Q1 2025, Sun Country expects total revenue between $330-340 million (6-9% growth), with operating income margin projected at 17-21%. The company plans to expand its cargo operations with eight more Amazon freighter aircraft throughout 2025.
Sun Country Airlines (NASDAQ: SNCY) has announced its upcoming fourth quarter and full year 2024 earnings conference call, scheduled for Tuesday, February 4, 2025, at 8:30 a.m. Eastern Time.
Investors and interested parties can access the live call and replay through the Sun Country investor relations website at ir.suncountry.com, or via a provided dial-in link.
Sun Country Airlines (NASDAQ: SNCY) has unveiled its first custom-designed aircraft livery celebrating Minnesota Golden Gopher Athletics. The airline, which became the Official Airline of Gopher Athletics in 2023, has provided charter services for university sports teams since 2012, operating nearly 500 charters over 12 years.
The new design features the Minnesota Block M and Maroon and Gold colors on tail number 809, marking the first custom aircraft design in Sun Country's fleet of 43 passenger planes. One of the aircraft's first flights will transport the Gopher football team to the Duke's Mayo Bowl in Charlotte, N.C., on December 30.
Sun Country Airlines reported its Q3 2024 financial results with record quarterly revenue of $249 million. The company achieved its ninth consecutive profitable quarter with GAAP EPS of $0.04 and adjusted EPS of $0.06. Operating income was $12 million with a 5.0% margin, while adjusted operating income reached $14 million with a 5.6% margin. Despite challenges from the Crowdstrike outage and hurricanes, robust growth in charter and cargo businesses helped offset lower scheduled service revenue. The company's cargo revenue per block hour grew 16.0% year-over-year, while charter revenue exceeded block hour growth.
Sun Country Airlines (SNCY) has extended its booking schedule through September 2, 2025, allowing customers to book non-stop flights to over 100 destinations. The airline has doubled its nonstop destinations from Minneapolis-St. Paul International Airport in the past five years. The summer 2025 schedule includes increased flight frequencies to various cities, from historic destinations like Atlanta and Boston to vacation spots like Grand Rapids and Syracuse. The airline will also extend seasonal Saturday-only service to Miami and Sarasota. Sun Country will operate 116 routes serving 102 airports across the United States, Mexico, Central America, Canada, and the Caribbean.
Sun Country Airlines (NASDAQ: SNCY) has announced it will host its third quarter 2024 earnings conference call on Thursday, October 31, 2024, at 8:30 a.m. Eastern Time. Investors and interested parties can access the live call and replay through the company's investor relations website at ir.suncountry.com or via a provided dial-in link.
Sun Country Airlines (NASDAQ: SNCY) has announced its participation in the Morgan Stanley 12th Annual Laguna Conference. The company's Senior Vice President and Chief Revenue Officer, Grant Whitney, will engage in a fireside chat on Thursday, September 12 at 1:25PM PDT. Investors and interested parties can access a live webcast of the event through Sun Country's investor relations website. This conference provides an opportunity for the airline to share insights and engage with investors and analysts in the financial community.
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