Sun Country Airlines (SNCY) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Despite recent missteps in capacity deployment, Sun Country Airlines Holdings, Inc. remains a strong buy with a price target of $15.58, representing a 51% upside. The airline's focus on scheduled services hurt earnings, but management is shifting capacity to more stable charter and cargo services. Q3 2024 earnings are expected to show weak margins, but long-term stability is anticipated from a balanced business model.
Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY ) Q2 2024 Results Conference Call August 2, 2024 8:30 AM ET Company Participants Chris Allen - IR Jude Bricker - CEO David Davis - President, CFO & Director Conference Call Participants Ravi Shanker - Morgan Stanley Duane Pfennigwerth - Evercore ISI Scott Group - Wolfe Research Michael Linenberg - Deutsche Bank Tom Fitzgerald - TD Cowen Operator Welcome to the Sun Country Airlines' Second Quarter 2024 Earnings Call. My name is Crystal, and I'll be your operator for today's call.
Sun Country Airlines Holdings, Inc. (SNCY) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.40 per share a year ago.
Sun Country Airlines (SNCY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Sun Country Airlines began flying 10 cargo jets for Amazon Air in 2019. It's about to add eight more jets to that fleet, and grow its revenue 7%.
Sun Country's May earnings report was not a disaster, but its forecast for the quarter to come -- including part of the summer travel season -- fell flat. The airline is seeing more competition on key routes, which is eating into pricing power.