earnings
confidence high
sentiment negative
materiality 0.85
Frontier cuts Q3 2023 pre-tax margin guidance to (4%)–(7%) loss from 4%–7% profit
Frontier Group Holdings, Inc.
- Adjusted pre-tax margin now (4%) to (7%), down from +4% to +7% prior.
- Avg fuel cost per gallon seen at $3.05–$3.10, 23 cents higher than prior $2.80–$2.90.
- Capacity growth trimmed to 20%–21% vs earlier 21%–23%.
- Adjusted operating expenses ex-fuel guided to $645M–$655M, down slightly.
- Cites weaker booking trends, Tropical Storm Hilary, Hurricane Idalia, and higher fuel.