10-K · April 30, 2026
Sun Country Airlines demonstrated robust performance in the latest 10-K, with a notable revenue of $1,068 million for the fiscal year 2025, reflecting a growth compared to previous years. The company also recorded a…
Earnings analysis · 10-Q
SNCY earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
Sun Country Airlines experienced a modest revenue increase of 4% to $338.4 million in Q1 2026, driven by a significant 64% surge in cargo revenue amid operational shifts. However, net income fell 34% to $24.1 million as…
Read full summary
Sun Country Airlines experienced a modest revenue increase of 4% to $338.4 million in Q1 2026, driven by a significant 64% surge in cargo revenue amid operational shifts. However, net income fell 34% to $24.1 million as higher operating expenses, particularly fuel costs, impacted profit margins.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.231
- Operating margin
- 10.9%
What stood out
-
Revenue Growth
Total revenue increased by $11.7 million, or 4%, reaching $338.4 million compared to $326.6 million in Q1 2025.
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Cargo Revenue Surge
Cargo revenue rose dramatically by 64%, contributing $46.1 million compared to $28.2 million in Q1 2025.
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Increased Operating Expenses
Total operating expenses rose by 11% year-over-year to $301.5 million, mostly due to a 13% increase in fuel costs.
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Decreased Net Income
Net income for Q1 2026 was $24.1 million, down from $36.5 million in Q1 2025, representing a 34% decline.
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Improved Operating Cash Flow
Operating cash flow significantly improved to $29.7 million, an 81% increase from $16.4 million in Q1 2025.
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Debt Reduction
Total debt decreased from $323.3 million at year-end 2025 to $306.9 million as of March 31, 2026.
What to watch
-
High Fuel Costs
Average fuel cost per gallon increased by 22% to $3.24, putting pressure on operating expenses.
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Merger-Related Costs
Special items related to the Allegiant merger impacted Q1 2026 earnings significantly, totaling $9.8 million.
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Decreasing Passenger Revenue
Passenger revenue slightly decreased by 0.2% to $285.3 million, with a 12% drop in revenue passengers carried.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-K · February 12, 2026
Sun Country describes a hybrid low‑cost carrier strategy that cross‑utilizes a single‑family mid‑life Boeing 737‑NG fleet across Passenger (Scheduled Service and Charter) and Cargo (CMI for Amazon) to capture peak…
10-Q · October 30, 2025
Sun Country Airlines reported Q3 2025 financials with revenue of $255.5 million, a slight increase from $249.0 million in Q3 2024, and EPS of $0.07, outperforming estimates by $0.01. While operating margins decreased to…
10-Q · May 2, 2025
Q1 2025 results showed revenue growth and modest profit expansion versus Q1 2024: total operating revenues were $326,649 (thousands) vs $311,483 (thousands) a year ago, with net income of $36,535 (thousands) and diluted…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.