Q4 24 EPS
$0.23
BEAT +82.68%
Est. $0.13
Q4 24 Revenue
$1.00B
BEAT +1.57%
Est. $986.5M
vs S&P Since Q4 24
-43.7%
TRAILING MARKET
ULCC -19.7% vs S&P +24.0%
Full Year 2024 Results
FY 24 EPS
$0.37
FY 24 Revenue
$3.78B
Market Reaction
Did ULCC Beat Earnings? Q4 2024 Results
Frontier Group Holdings capped 2024 with a sharply stronger fourth quarter, posting adjusted diluted EPS of $0.23 against a consensus estimate of $0.13, a beat of roughly 82.68%, while revenue of $1.00 billion edged past the $986.50 million consensus… Read more Frontier Group Holdings capped 2024 with a sharply stronger fourth quarter, posting adjusted diluted EPS of $0.23 against a consensus estimate of $0.13, a beat of roughly 82.68%, while revenue of $1.00 billion edged past the $986.50 million consensus and climbed 12.5% from the year-ago period. The turnaround was most visible on the bottom line, where the carrier swung to GAAP net income of $54.00 million from a net loss of $37.00 million in Q4 2023, driven largely by a 15% year-over-year surge in RASM to 10.23 cents as Frontier concentrated capacity on peak travel days rather than chasing volume. That disciplined approach helped lift total revenue per passenger 6% to $117, even as average daily aircraft utilization fell 15% and CASM edged up to 9.78 cents. Looking ahead, management guided full-year 2025 adjusted EPS of at least $1.00, targeting double-digit adjusted pre-tax margins by summer, supported by continued RASM growth and a cost structure it says runs roughly 48% below the industry average on a stage-adjusted basis.
Key Takeaways
- • RASM increased 15% YoY to 10.23 cents driven by disciplined capacity deployment on peak days
- • Revenue and network initiatives contributing to record quarterly revenue
- • Moderation in industry capacity growth benefiting pricing
- • Total revenue per passenger increased 6% to $117
- • Fare revenue per passenger increased 26% to $48.40
- • Fuel cost decreased 22% YoY to $2.48 per gallon
- • A320neo family aircraft now comprise 82% of fleet, highest among major U.S. carriers
- • Record fuel efficiency at 106 ASMs per gallon
ULCC YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
ULCC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our revenue and network initiatives contributed to record fourth quarter revenue, setting us on a trajectory for significant year-over-year RASM growth in 2025 which underpins our target of achieving double-digit adjusted pre-tax margins in the summer of 2025.”
— Barry Biffle, Q4 2024 Earnings Press Release
ULCC Earnings Trends
ULCC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ULCC EPS Trend
Earnings per share: estimate vs actual
ULCC Revenue Trend
Quarterly revenue: estimate vs actual
ULCC Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $-0.36 | $-0.30 | +16.94% | $992.0M | -5.46% |
| Q1 26 BEAT | $-0.36 | $-0.30 | +16.94% | $992.0M | -5.46% |
| Q4 25 BEAT FY | $0.13 | $0.23 | +71.90% | $997.0M | +2.41% |
| FY Full Year | — | $-0.60 | — | $3.72B | — |
| Q3 25 BEAT | $-0.37 | $-0.34 | +7.66% | $886.0M | -1.56% |
| Q2 25 MISS | $-0.28 | $-0.31 | -10.99% | $929.0M | -1.42% |
| Q1 25 BEAT | $-0.21 | $-0.19 | +10.84% | $912.0M | -1.42% |
| Q4 24 BEAT FY | $0.13 | $0.23 | +82.68% | $1.00B | +1.57% |
| FY Full Year | — | $0.37 | — | $3.78B | — |