Press release
Sun Country Airlines Reports Fourth Quarter and Full Year 2024 Results
Q4 2024 total revenue of $260.4 million, highest fourth quarter on record(1)Q4 2024 GAAP diluted EPS of $0.24 and operating income margin of 10.0%Q4 2024
About this update from Sun Country Airlines Holdings, Inc.
[{"type":"text","content":"Q4 2024 total revenue of $260.4 million, highest fourth quarter on record(1)Q4 2024 GAAP diluted EPS of $0.24 and operating income margin of 10.0%Q4 2024 Adjusted diluted EPS of $0.27(2)Q4 2024 Adjusted operating income margin of 10.6%(2), highest fourth quarter on record(1)FY 2024 total revenue of $1.08 billion, highest full year on record(1)FY 2024 GAAP diluted EPS of $0.96 and operating income margin of 9.9%FY 2024 Adjusted diluted EPS of $1.05(2) and adjusted operating income margin of 10.4%(2) MINNEAPOLIS, Feb. 04, 2025 (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, 2024. “Sun Country’s uniquely diversified business model and the efforts of our outstanding employees produced record fourth quarter revenue(1) and pretax earnings. Our full year results were also strong, with record revenue(1), a 9.9% GAAP operating income margin and a 10.4% adjusted operating income margin(2),” said Jude Bricker, Chief Executive Officer of Sun Country. “We were an industry leader in making significant capacity adjustments in response to industry oversupply, particularly during off-peak periods. The capacity environment in the fourth quarter was more balanced and we see this continuing into the first quarter of 2025. The improved economics of our cargo business also contributed to our strong results in the second half of the year. As we move into 2025, we expect the favorable environment to continue, with strong unit revenue trends in our passenger business and the addition of eight more Amazon freighter aircraft to our fleet throughout the year. Our revenue streams are becoming even more diverse as we increase cargo flying, and our earnings are becoming more stable as more of our flying moves under contractual agreements.” Overview of Fourth Quarter and Full Year Three Months Ended December 31, (unaudited) (in millions, except per share amounts)20242023% ChangeTotal Operating Revenue$260.4 $245.5 6.1 Operating Income 26.1 17.1 52.2 Income Before Income Tax 16.9 7.7 121.0 Net Income 13.4 5.6 138.0 Diluted earnings per share$0.24 $0.10 140.0 Three Months Ended December 31, (unaudited) (in millions, except per share amounts)20242023% ChangeAdjusted Operating Income (2)$27.5 $18.3 5...