SUN COUNTRY AIRLINES Releases Third Quarter Financial Results for FY 2023
December 5, 2023
🌥️Earnings Overview
For the third quarter of fiscal year 2023, SUN COUNTRY AIRLINES ($NASDAQ:SNCY) reported total revenue of USD 248.9 million, representing a 12.3% increase from the same period last year. Net income, however, decreased 28.9% year over year to USD 7.6 million.
Stock Price
On Tuesday, SUN COUNTRY AIRLINES released its third quarter financial results for financial year 2023. The stock opened at $13.2 and closed at $13.0, representing a 0.4% decrease from last closing price of $13.1. The company attributed its improved performance to cost-cutting measures adopted earlier this year, as well as increased demand for its services in the domestic market. It also noted that higher ticket prices have helped to increase revenues despite the increase in costs.
The airline is expecting further improvements in its financial performance in the fourth quarter of FY 2023 as it continues to expand its fleet and routes. Investors remain optimistic about SUN COUNTRY AIRLINES’ future and the stock is expected to continue to remain steady in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SNCY. More…
| Total Revenues | Net Income | Net Margin |
| 1.03k | 73.82 | 7.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SNCY. More…
| Operations | Investing | Financing |
| 158.42 | -230 | -36.58 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SNCY. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.6k | 1.08k | 9.59 |
Key Ratios Snapshot
Some of the financial key ratios for SNCY are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.1% | 54.3% | 13.1% |
| FCF Margin | ROE | ROA |
| -6.1% | 15.9% | 5.3% |
Analysis
As GoodWhale, we conducted an analysis of SUN COUNTRY AIRLINES’s wellbeing. Based on our Star Chart, we classified the company as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this classification, what type of investors may be interested in such a company? Investors looking for high growth potential may find SUN COUNTRY AIRLINES attractive. The company has an intermediate health score of 6/10 considering its cashflows and debt, and may be able to sustain future operations in times of crisis. Our analysis also shows that SUN COUNTRY AIRLINES is strong in growth, medium in asset, profitability and weak in dividend. Overall, SUN COUNTRY AIRLINES may be an attractive option for investors looking for a higher-risk, higher-reward opportunity. More…
Peers
The competition among Sun Country Airlines Holdings Inc, VietJet Aviation JSC, Enter Air SA, and El AL Israel Airlines Ltd is fierce. All four companies are constantly trying to one-up each other in terms of prices, routes, and amenities. This competition is good for consumers, as it keeps prices low and quality high. It also forces each company to innovate and come up with new ways to attract and retain customers.
– VietJet Aviation JSC ($HOSE:VJC)
Air Enter SA has a market cap of $368.42 million as of 2022 and a return on equity of -1234.95%. The company is a provider of air transportation services. It offers scheduled and charter air transportation of passengers and cargo, as well as aircraft maintenance and training services.
– Enter Air SA ($LTS:0REF)
As of 2022, EL AL Israel Airlines Ltd had a market capitalization of 191.1 million and a return on equity of 24.45%. The company is an airline based in Israel, and it operates scheduled flights to dozens of destinations in Europe, Asia, Africa, and the Americas. EL AL is also a member of the Star Alliance, the world’s largest airline alliance.
Summary
SUN COUNTRY AIRLINES recently reported their financial results for the third quarter of fiscal year 2023, and the results were mixed. Total revenue increased by 12.3% to $248.9 million, however, net income decreased 28.9% to $7.6 million. Investors should take note of this discrepancy, as it could be a sign of trouble in the company’s financials.
Furthermore, a look at the company’s liquidity ratios such as the current ratio and quick ratio could provide insight into the company’s short-term financial health. Investors should also pay attention to the company’s ability to pay off its debt, as this could help them make a more informed investment decision.
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