Frontier Group Holdings Inc Reports Second Quarter 2024 Financial Results
Intellectia.AI Updated: 1970-01-01
Frontier Group Holdings, Inc. Reports Second Quarter 2024 Financial Results
Overview
Frontier Group Holdings, Inc. (FGHI) has reported its financial results for the quarter ending June 30, 2024. The report provides a comprehensive view of the company's financial health, key metrics, and operational performance.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | YOY Change |
|---|---|---|---|
| Total Revenue (in millions) | $973 | $967 | +1% |
| Net Income (in millions) | $31 | $71 | -56% |
| Cost Per Available Seat Mile (CASM) | 8.98¢ | 9.51¢ | -5.6% |
Interpretation: Frontier Group Holdings saw a minor increase in total revenue by 1% year-over-year (YOY), yet net income fell by 56%, indicating reduced profitability. The company successfully reduced its cost per available seat mile (CASM) by 5.6%, reflecting improved cost efficiency.
Segment Performance
No detailed breakdown of revenue performance across major segments was provided.
Key Operational Data
- Average daily aircraft utilization decreased by 4% to 10.9 hours per day in H1 2024, down from 11.4 hours per day in H1 2023.
- Average stage length decreased by 11% to 899 miles in Q2 2024 from 1,038 miles in Q2 2023.
Officers' Comments
No detailed comments from company officers were provided within the data.
Dividends and Share Repurchase Program
No information on announced dividends or share repurchase programs was provided.
Forward Guidance
The report did not include any specific forward guidance.
Stock Price Movement Post-Release
The company's stock price movement after the earnings release saw a minor change of -0.16%.
Summary
Frontier Group Holdings saw a slight increase in total revenue for Q2 2024; however, the net income decreased significantly, indicating challenges in maintaining profitability. The reduction in CASM shows improved operational efficiency. The company did not provide detailed comments from officers, guidance, or changes related to dividends and share repurchase programs.
[End of Summary]
Disclaimer: The above summary is based on data provided and the attached earnings report. Some sections have been skipped due to insufficient information.
This revised report removes unnecessary columns and tables, providing a clearer and more concise view of the financial results.
