SNCY - Why Sun Country Airlines Stock Is Flying Higher Today
2024-02-01 12:48:52 ET
Sun Country Airlines Holdings (NASDAQ: SNCY) outperformed expectations in the final three months of 2023, and its stock is taking flight as a result. Shares of Sun Country opened up more than 12% on Thursday and remain up 6% as of 12:30 p.m. ET.
Sun Country operates a fleet of 54 aircraft engaged in scheduled service, charter flights, and cargo. The company has relationships with Amazon for cargo and with collegiate and pro sports teams, as well as the U.S. government, for charter, helping it to maintain one of the more diverse revenue mixes in the business.
In the fourth quarter, that mix paid off. Sun Country earned $0.12 per share, topping the $0.05 per-share estimate despite revenue that, at $245.5 million, was a little light compared to expectations.
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Why Sun Country Airlines Stock Is Flying Higher Today