ULCC
Frontier Group Holdings, Inc.5.12
-0.65-11.2%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Spirit cuts lift RASM despite fare dip
Q&A detailed Spirit's capacity cuts delivering high single-digit RASM gains in overlap markets, offsetting initial September-October fare drops that reversed improving yields. Management brushed off risks like industry capacity refill, Boeing MAX 10 expansion, or government shutdown—calling the latter RASM-positive amid low November demand. First-class pricing surfaced at $200-250, promising immediate uplift while maturing over 1-3 years via loyalty upgrades. Path to margins hinges on doubling loyalty revenue, cost pushdown. Tailwinds build. Investors eye Q1 2026 growth update.
Key Stats
Market Cap
1.17BP/E (TTM)
-Basic EPS (TTM)
-0.61Dividend Yield
0%Recent Filings
8-K
10-Q
Q3 FY2025 results
Frontier posted Q3 revenue of $886M, down 5% y/y from $935M on 4% lower ASMs, yet load factor climbed 2.7 points to 80.7% amid disciplined capacity cuts. Operating loss hit $77M versus $19M profit y/y, driven by higher salaries (up 6%), station ops (up 5%), and absence of prior $40M legal settlement gain in other operating, while fuel dropped 10%. Cash fell to $566M with operating cash use of $434M YTD; total debt $673M includes $419M PDP facilities and $75M revolver draw, in covenant compliance. Fleet grew to 166 leased aircraft. Unions push for new contracts.
8-K
Q3 loss on lower capacity
Frontier reported Q3 2025 revenue of $886 million, down 5% on 4% lower capacity amid competitive pricing, swinging to a $77 million net loss with CASM up 9% to 9.95 cents. RASM held 2% higher stage-adjusted; fleet hit 84% A320neo efficiency. Capacity cuts persist through 2026. Q4 guides adjusted EPS $0.04-$0.20.
8-K
Frontier Q2 loss amid disruptions
Frontier Group Holdings reported Q2 2025 revenue of $929 million, down 5% from last year on 2% lower capacity, hit by weather and air traffic delays that disrupted demand. CASM climbed 8% to 9.73 cents amid reduced aircraft utilization, driving a $70 million net loss or $(0.31) per share; yet fuel efficiency hit 106 ASMs per gallon, bolstering its greenest airline status. Capacity shrinks 4-5% in Q3, with mid-to-high single-digit RASM growth eyed amid easing competition. Losses loom from volatile fuel at $2.51 per gallon.
10-Q
Q2 FY2025 results
Frontier Group Holdings posted a $70 million net loss for Q2 FY2025 ended June 30, 2025, swinging from $31 million profit a year earlier, as revenues dipped 5% y/y to $929 million on 2% lower capacity and 2% softer RASM, while operating expenses climbed 6% y/y to $1,004 million amid higher aircraft rent and station costs despite 20% fuel savings. Q/q, the loss narrowed from Q1's $43 million, with revenues up 5% from $912 million (derived) on seasonal strength, but margins squeezed by 32% y/y rent hikes from fleet growth to 164 aircraft. Cash burned $219 million in operations, leaving $563 million on hand plus $205 million undrawn revolver; total debt stood at $565 million, compliant with covenants. Sale-leaseback gains fell sharply to $34 million from $90 million y/y. Labor talks drag on with pilots and attendants.
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