Compared to Estimates, Frontier Group (ULCC) Q1 Earnings: A Look at Key Metrics

For the quarter ended March 2024, Frontier Group Holdings (ULCC) reported revenue of $865 million, up 2% over the same period last year. EPS came in at -$0.09, compared to -$0.06 in the year-ago quarter.

The reported revenue represents a surprise of +0.61% over the Zacks Consensus Estimate of $859.76 million. With the consensus EPS estimate being -$0.18, the EPS surprise was +50.00%.

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): 9,446 million versus the three-analyst average estimate of 9,322 million.
  • Revenue passenger miles (RPMs): 6,869 million versus the three-analyst average estimate of 7,723.46 million.
  • Fuel cost per gallon: $2.93 compared to the $2.92 average estimate based on three analysts.
  • Load factor: 72.7% versus the three-analyst average estimate of 82.9%.
  • Total revenue per ASM (RASM): 9.16 cents compared to the 9.14 cents average estimate based on three analysts.
  • Adjusted CASM: 9.49 cents versus the three-analyst average estimate of 9.79 cents.
  • Adjusted CASM (excluding fuel): 6.71 cents compared to the 6.97 cents average estimate based on two analysts.
  • Adjusted CASM + net interest: 9.42 cents versus the two-analyst average estimate of 9.69 cents.
  • Operating revenues - Passenger: $845 million versus the two-analyst average estimate of $829.47 million. The reported number represents a year-over-year change of +1.8%.
View all Key Company Metrics for Frontier Group here>>>

Shares of Frontier Group have returned -18.3% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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