Press release
Sun Country Airlines Reports Third Quarter 2021 Results
Q3 2021 GAAP EPS of $0.23 and operating income of $22 millionQ3 2021 Adjusted EPS of $0.23(1) and adjusted operating income of $23 million (1) MINNEAPOLIS,
About this update from Sun Country Airlines Holdings, Inc.
[{"type":"text","content":"Q3 2021 GAAP EPS of $0.23 and operating income of $22 millionQ3 2021 Adjusted EPS of $0.23(1) and adjusted operating income of $23 million (1) MINNEAPOLIS, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Sun Country Airlines Holdings, Inc. (“Sun Country Airlines”, “Sun Country”, the “Company”) (NASDAQ: SNCY) today reported financial results for its third quarter ended September 30, 2021. “We had a great third quarter,” said Jude Bricker, Chief Executive Officer of Sun Country. “We posted our highest adjusted operating margin, adjusted pre-tax margin and adjusted net income since the first quarter of 2019. As a reminder, the third quarter is historically not our strongest quarter of the year. Total quarterly revenue in Q3 2021 was higher than in Q3 2019, the first quarter this has occurred since the start of the pandemic. This and our continued focus on cost control in the quarter produced earnings of $0.23, the highest since the start of the pandemic, and our third consecutive quarter of positive adjusted operating margins.” Overview of Third Quarter Three Months Ended Sep 30, (unaudited) (in millions, except share amounts)20212020% ChangeTotal operating revenue$173.7$78.0122.7Operating income 22.0 8.8149.5Income before income tax 16.2 3.9320.8Net income 13.9 2.9375.0Diluted earnings per share$0.23$0.06283.3 “NM” stands for not meaningful Three Months Ended Sep 30, (unaudited) (in millions, except share amounts)20212020% ChangeAdjusted operating income (loss) (1)$22.9($21.6)NMAdjusted income (loss) before income tax (1) 16.7 (26.6)NMAdjusted net income (loss) (1) 14.0 (20.5)NMAdjusted diluted earnings (loss) per share (1)$0.23($0.42)NM Nine Months Ended Sep 30, (unaudited) (in millions, except share amounts)20212020% ChangeTotal operating revenue$450.5$293.753.4Operating income 96.2 21.8340.9Income before income tax 95.2 5.6NMNet income 78.1 4.1NMDiluted earnings per share$1.33$0.09NM Nine Months Ended Sep 30, (unaudited) (in millions, except share amounts) 2021 2020 % ChangeAdjusted operating income (loss) (1)$35.6($36.8)NMAdjusted income (loss) before income tax (1) 17.4 (52.7)NMAdjusted net income (loss) (1) 13.6 (40.7)NMAdjusted diluted earnings (loss) per share (1)$0.23($0.84)NM For the quarter ended September 30, 2021, Sun Country reported net income of $14 million and income before income tax of $16 million, on $174 million of revenue....