Caesars Entertainment misses Q2 earnings expectations, shares edge lower
David M. Davis, President and Chief Financial Officer of Sun Country Airlines Holdings , Inc. (NASDAQ:SNCY), recently sold 1,449 shares of the company’s common stock. The transaction, dated April 1, was executed at an average price of $12.0047 per share, totaling approximately $17,394. The stock, currently trading at $11.27, has experienced an 8.2% decline over the past week, though InvestingPro analysis suggests the company is undervalued with strong free cash flow yield of 20%.
This sale was conducted to cover tax withholding obligations associated with the vesting of restricted stock units, as noted in the filing. Following this transaction, Davis holds 50,729 shares of Sun Country Airlines. The company maintains a "GOOD" overall financial health score according to InvestingPro, which offers 8 additional key insights about SNCY’s performance and outlook in its comprehensive Pro Research Report.
In other recent news, Sun Country Airlines Holdings Inc. reported its fourth-quarter and full-year 2024 earnings, revealing record revenue figures. The airline surpassed earnings per share (EPS) expectations, posting an EPS of $0.20, which exceeded the forecast of $0.1888. Total (EPA:TTEF) revenue for the fourth quarter was $260.4 million, marking a 6.1% year-over-year increase. Sun Country Airlines also achieved its highest annual revenue on record at $1.08 billion. The company has now maintained profitability for ten consecutive quarters, with operating margins reaching a record high of 10.6% for the fourth quarter.
In addition to its financial performance, Sun Country Airlines completed a significant secondary public offering and share repurchase. The airline repurchased 630,914 shares using cash on hand, following the sale of 6,346,105 shares of common stock. The completion of this offering marked the end of Apollo Global Management’s governance rights with Sun Country.
Sun Country Airlines also announced a new co-branded credit card program with Synchrony Bank, expected to launch in the fourth quarter of 2025. This strategic partnership aims to enhance customer offerings and financial instruments. Furthermore, the airline provided a revised financial outlook through an Investor Update, inviting stakeholders to review Exhibit 99.1 of the Form 8-K for comprehensive financial data and operational insights.
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