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Frontier Group (ULCC) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Frontier Group Holdings (ULCC - Free Report) reported revenue of $883 million, down 2.5% over the same period last year. EPS came in at -$0.14, compared to $0.14 in the year-ago quarter.
The reported revenue represents a surprise of -0.84% over the Zacks Consensus Estimate of $890.47 million. With the consensus EPS estimate being -$0.16, the EPS surprise was +12.50%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Frontier Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Available seat miles (ASMs): 9,697 million compared to the 9,688.13 million average estimate based on three analysts.
Revenue passenger miles (RPMs): 7,755 million versus 8,138.82 million estimated by three analysts on average.
Fuel cost per gallon: $3.08 versus the three-analyst average estimate of $3.08.
Load factor: 80% versus the three-analyst average estimate of 84%.
Total revenue per ASM (RASM): 9.1 cents compared to the 9.16 cents average estimate based on three analysts.
Adjusted CASM: 6.66 cents compared to the 9.7 cents average estimate based on three analysts.
Adjusted CASM (excluding fuel): 6.66 cents compared to the 6.71 cents average estimate based on two analysts.
Adjusted CASM + net interest: 9.56 cents versus 9.65 cents estimated by two analysts on average.
Operating revenues - Passenger: $862 million versus the two-analyst average estimate of $864.40 million. The reported number represents a year-over-year change of -2.4%.
Operating revenues - Other: $21 million compared to the $23.09 million average estimate based on two analysts. The reported number represents a change of -8.7% year over year.
Shares of Frontier Group have returned -17.6% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Frontier Group (ULCC) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Frontier Group Holdings (ULCC - Free Report) reported revenue of $883 million, down 2.5% over the same period last year. EPS came in at -$0.14, compared to $0.14 in the year-ago quarter.
The reported revenue represents a surprise of -0.84% over the Zacks Consensus Estimate of $890.47 million. With the consensus EPS estimate being -$0.16, the EPS surprise was +12.50%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Frontier Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Available seat miles (ASMs): 9,697 million compared to the 9,688.13 million average estimate based on three analysts.
- Revenue passenger miles (RPMs): 7,755 million versus 8,138.82 million estimated by three analysts on average.
- Fuel cost per gallon: $3.08 versus the three-analyst average estimate of $3.08.
- Load factor: 80% versus the three-analyst average estimate of 84%.
- Total revenue per ASM (RASM): 9.1 cents compared to the 9.16 cents average estimate based on three analysts.
- Adjusted CASM: 6.66 cents compared to the 9.7 cents average estimate based on three analysts.
- Adjusted CASM (excluding fuel): 6.66 cents compared to the 6.71 cents average estimate based on two analysts.
- Adjusted CASM + net interest: 9.56 cents versus 9.65 cents estimated by two analysts on average.
- Operating revenues - Passenger: $862 million versus the two-analyst average estimate of $864.40 million. The reported number represents a year-over-year change of -2.4%.
- Operating revenues - Other: $21 million compared to the $23.09 million average estimate based on two analysts. The reported number represents a change of -8.7% year over year.
View all Key Company Metrics for Frontier Group here>>>Shares of Frontier Group have returned -17.6% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.