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Sun Country Airlines

Sun Country Airlines (SNCY) Q2 2025 Earnings

Reported Jul 31, 2025 at 4:13 PM ET · SEC Source

Q2 25 EPS

$0.14

BEAT +22.70%

Est. $0.11

Q2 25 Revenue

$263.6M

BEAT +3.04%

Est. $255.8M

vs S&P Since Q2 25

+15.3%

BEATING MARKET

SNCY +34.2% vs S&P +18.9%

Market Reaction

Did SNCY Beat Earnings? Q2 2025 Results

Sun Country Airlines posted a solid beat across the board in Q2 2025, with adjusted diluted EPS of $0.14 clearing the $0.11 consensus estimate by 22.70% and total revenue of $263.62 million topping forecasts by 3.04% as the hybrid carrier's strategic… Read more Sun Country Airlines posted a solid beat across the board in Q2 2025, with adjusted diluted EPS of $0.14 clearing the $0.11 consensus estimate by 22.70% and total revenue of $263.62 million topping forecasts by 3.04% as the hybrid carrier's strategic pivot toward cargo continued to pay off. Revenue climbed 3.6% year-over-year, fueled by a 36.8% surge in cargo revenue to $34.80 million and a 6.4% rise in charter revenue to $54.27 million, gains that more than compensated for a modest 0.8% dip in passenger revenue. GAAP net income swelled to $6.58 million from $1.81 million a year ago, extending the company's profitable streak to twelve consecutive quarters. The results arrived even as Sun Country deliberately trimmed scheduled service ASMs by 6.2% to make room for cargo fleet expansion, a trade-off that pushed unit costs higher and left management warning that elevated CASM levels will persist until scheduled passenger growth resumes in the second half of 2026. For Q3 2025, the company guided total revenue of $250 million to $260 million, implying 0-4% year-over-year growth, with an operating income margin of 3-6%.

Key Takeaways

  • • Cargo revenue grew 36.8% year-over-year driven by increased cargo aircraft in service and new Amazon contract rates effective June 2024
  • • Scheduled service TRASM increased 3.7% year-over-year to 10.40 cents despite 6.2% decline in scheduled service ASMs
  • • Total fare per scheduled passenger increased 6.5% to $150.99
  • • Aircraft fuel costs declined 18.7% year-over-year due to lower fuel prices
  • • Charter revenue increased 6.4% on 7.9% block hour growth
  • • Interest expense decreased 16.8% year-over-year
24/7 Wall St

SNCY YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

SNCY Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q4 25

“Sun Country is pleased to report our twelfth consecutive profitable quarter with GAAP EPS of $0.12 and adjusted diluted EPS of $0.14. We are steadily incorporating our eight additional cargo aircraft throughout the second and third quarters. As of the end of the second quarter, we had 15 cargo aircraft in service and expect all 20 freighters to be in-service by the end of the third quarter. As of today, all eight of the additional cargo aircraft have been delivered to us and five are in-service, bringing our in-service cargo aircraft to 17. To successfully accommodate this growth in cargo, we reduced our passenger service business as demonstrated by the 3.9% decline in total ASMs, with a notable reduction of our scheduled service business as demonstrated by the 6.2% decline in scheduled service ASMs. That being said, we have seen healthy demand with scheduled service TRASM increasing 3.7% and total fare increasing 6.5% versus the second quarter last year. This has contributed to a second quarter GAAP pre-tax margin of 3.2% and an adjusted pre-tax margin of 3.9%, which grew by 2.0 and 2.1 percentage points year-over-year respectively. This is another terrific result produced by our dedicated and hard-working employees who delivered in a challenging environment.”

— Jude Bricker, Q2 2025 Earnings Press Release

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