Press release
Sun Country Airlines Reports Second Quarter 2021 Results
Q2 2021 GAAP EPS of $0.83 and operating income of $49 millionQ2 2021 Adjusted EPS of $0.07(1) and adjusted operating income of $12 million (1) MINNEAPOLIS,
About this update from Sun Country Airlines Holdings, Inc.
[{"type":"text","content":"Q2 2021 GAAP EPS of $0.83 and operating income of $49 millionQ2 2021 Adjusted EPS of $0.07(1) and adjusted operating income of $12 million (1) MINNEAPOLIS, July 28, 2021 (GLOBE NEWSWIRE) -- Sun Country Airlines Holdings, Inc. (“Sun Country Airlines”, “Sun Country”, the “Company”) (NASDAQ: SNCY) today reported financial results for its second quarter ended June 30, 2021. “We had a very strong second quarter driven by revenue outperformance in our scheduled passenger service business amid strong continued recovery in leisure travel demand,” said Jude Bricker, Chief Executive Officer of Sun Country. “Passenger revenue growth was driven by higher fares, strong ancillary sales and continued recovery in capacity. When combined with our resilient Cargo business and steadily improving charter operation, we generated a second quarter profit after removing the benefit of the CARES Act grants, further demonstrating the strength of our unique, variable capacity business model.” Overview of Second Quarter Three Months Ended June 30, (unaudited) (in millions, except share amounts) 2021 2020 % ChangeTotal operating revenue$149.2 $35.4 321Operating income (loss) 49.2 (2.2)NMIncome (loss) before income tax 61.2 (7.9)NMNet income (loss) 51.8 (6.0)NMDiluted earnings (loss) per share$0.83 $(0.13)NM “NM” stands for not meaningful Three Months Ended June 30, (unaudited) (in millions, except share amounts) 2021 2020 % ChangeAdjusted operating income (loss) (1)$11.5 $(30.8)NMAdjusted income (loss) before income tax (1) 5.4 (36.2)NMAdjusted net income (loss) (1) 4.5 (27.8)NMAdjusted diluted earnings (loss) per share (1)$0.07 $(0.59)NM Six Months Ended June 30, (unaudited) (in millions, except share amounts) 2021 2020 % ChangeTotal operating revenue$276.8 $215.7 28Operating income 74.2 13.0 471Income before income tax 79.0 1.8 NMNet income 64.2 1.2 NMDiluted earnings per share$1.12 $0.02 NM Six Months Ended June 30, (unaudited) (in millions, except share amounts) 2021 2020 % ChangeAdjusted operating income (loss) (1)$12.7 $(15.2)NMAdjusted income (loss) before income tax (1) 0.7 (26.0)NMAdjusted net loss (1) (0.4) (20.2)NMAdjusted diluted earnings (loss) per share (1)$(0.01)$(0.42)NM For the quarter ended June 30, 2021, Sun Country reported net income of $51.8 million and income before income tax of $61.2 million, on $149.2 million of revenue. Adjusting ...