Press release
Sun Country Airlines Reports Fourth Quarter and Full Year 2021 Results
Q4 2021 GAAP diluted EPS of ($0.01) and operating income of $11 millionQ4 2021 Adjusted diluted EPS of $0.10(1) and adjusted operating income of $15 million
About this update from Sun Country Airlines Holdings, Inc.
[{"type":"text","content":"Q4 2021 GAAP diluted EPS of ($0.01) and operating income of $11 millionQ4 2021 Adjusted diluted EPS of $0.10(1) and adjusted operating income of $15 million (1)FY 2021 GAAP diluted EPS of $1.31 and operating income of $107 millionFY 2021 Adjusted diluted EPS of $0.33(1) and adjusted operating income of $51 million (1) MINNEAPOLIS, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Sun Country Airlines Holdings, Inc. (“Sun Country Airlines”, “Sun Country”, the “Company”) (NASDAQ: SNCY) today reported financial results for its fourth quarter and full year ended December 31, 2021. “We closed out 2021 in a very strong way,” said Jude Bricker, Chief Executive Officer of Sun Country. “The fourth quarter delivered our 5th consecutive quarter of greater than 15% adjusted EBITDAR margins and a full year adjusted net profit of $20 million or $0.33 cents per share. We also ratified a new labor agreement with our pilots, offering highly competitive pay rates, benefits and work rules, allowing Sun Country to attract the pilots we need to support our future growth. Even including the new agreement, we expect our 2022 full year adjusted CASM to be lower than our adjusted CASM in 2019. The company is in a tremendous position, and we are excited to see it outperform in 2022 and beyond.” Overview of Fourth Quarter and Full Year Three Months Ended Dec 31, (unaudited) (in millions, except per share amounts) 2021 2020 % ChangeTotal operating revenue$172.6 $107.8 60.1Operating income (loss) 10.9 (4.4) NMIncome (loss) before income tax 0.2 (10.3) NMNet income (loss) (0.6) (8.0) NMDiluted earnings (loss) per share$(0.01) $(0.17) NM “NM” stands for not meaningful Three Months Ended Dec 31, (unaudited) (in millions, except per share amounts) 2021 2020 % ChangeAdjusted operating income (loss) (1)$14.8 $(3.4) NMAdjusted income (loss) before income tax (1) 8.0 (9.2) NMAdjusted net income (loss) (1) 6.2 (7.2) NMAdjusted diluted earnings (loss) per share (1)$0.10 $(0.15) NM Twelve Months Ended Dec 31, (unaudited) (in millions, except per share amounts) 2021 2020 % ChangeTotal operating revenue$623.0 $401.5 55.2Operating income 107.0 17.4 514.9Income (loss) before income tax 95.4 (4.7) NMNet income (loss) 77.5 (3.9) NMDiluted earnings (loss) per share$1.31 $(0.08) NM Twelve Months Ended Dec 31, (unaudited) (in millions, except per share amounts) 2021 2020 % ChangeAdjusted oper...