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Frontier Group Holdings, Inc. (ULCC)
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Income Statement |
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Standardized | As Reported |
Annual | Quarterly | TTM |
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In millions, except per share items | Dec-31-22 | Jun-30-22 | Mar-31-22 | Dec-31-21 | Sep-30-21 | Jun-30-21 | Mar-31-21 | Dec-31-20 |
| 8-K | 10-Q | 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K |
Total revenues [+] | 906 | 909 | 605 | 609 | 630 | 550 | 271 | 267 |
Net interest income | 19 | | | | | | | |
Revenue growth | 48.8% | 65.3% | 123.2% | 128.1% | 157.1% | 183.5% | -50.2% | -59.2% |
Cost of goods sold [+] | 646 | 793 | 654 | 615 | 592 | 560 | 457 | 413 |
Labor costs | | 174 | 172 | 162 | 161 | 154 | 139 | 127 |
Sales commissions and fees | 187 | | | | | | | |
Fuel costs | 304 | 335 | 215 | 186 | 166 | 139 | 84 | 57 |
Aircraft maintenance, materials and repairs | | 31 | 34 | 37 | 29 | 27 | 26 | 24 |
Aircraft rental | 155 | 133 | 128 | 131 | 128 | 133 | 138 | 130 |
Landing fees and other rentals | | 120 | 105 | 99 | 108 | 107 | 70 | 75 |
Gross profit | 260 | 116 | -49 | -6 | 38 | -10 | -186 | -146 |
Gross margin | 28.7% | 12.8% | -8.1% | -1.0% | 6.0% | -1.8% | -68.6% | -54.7% |
Selling, general and administrative [+] | 44 | 46 | 32 | 29 | 33 | 30 | 17 | 16 |
Sales and marketing | 44 | 46 | 32 | 29 | 33 | 30 | 17 | 16 |
Other operating expenses | 162 | 39 | 48 | 41 | -48 | -68 | -119 | 12 |
EBITDA [+] | 54 | 31 | -129 | -76 | 53 | 28 | -84 | -174 |
EBITDA growth | -171.1% | 10.7% | 53.6% | -56.3% | -172.6% | 115.4% | -14.3% | -320.3% |
EBITDA margin | 6.0% | 3.4% | -21.3% | -12.5% | 8.4% | 5.1% | -31.0% | -65.2% |
Depreciation and amortization | 9 | 15 | 13 | 10 | 10 | 10 | 8 | 10 |
EBIT [+] | 45 | 16 | -142 | -86 | 43 | 18 | -92 | -184 |
EBIT growth | -152.3% | -11.1% | 54.3% | -53.3% | -153.1% | 200.0% | -13.2% | -370.6% |
EBIT margin | 5.0% | 1.8% | -23.5% | -14.1% | 6.8% | 3.3% | -33.9% | -68.9% |
Non-recurring items | | 9 | 11 | | | | | |
Interest expense, net [+] | | -2 | 2 | 1 | -1 | | 1 | |
Interest expense | | | 2 | 2 | | | 1 | 1 |
Interest income | | 2 | | 1 | 1 | | | 1 |
Other income (expense), net | 5 | -1 | -6 | 1 | -3 | -4 | -20 | -9 |
Pre-tax income | 50 | 8 | -161 | -86 | 41 | 14 | -113 | -193 |
Income taxes | 10 | -5 | -40 | -33 | 18 | -5 | -22 | -66 |
Tax rate | 20.0% | | 24.8% | 38.4% | 43.9% | | 19.5% | 34.2% |
Net income | 40 | 13 | -121 | -53 | 23 | 19 | -91 | -127 |
Net margin | 4.4% | 1.4% | -20.0% | -8.7% | 3.7% | 3.5% | -33.6% | -47.6% |
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Basic EPS [+] | $0.18 | $0.06 | ($0.56) | ($0.25) | $0.11 | $0.09 | ($0.46) | ($0.64) |
Growth | -173.2% | -32.6% | 22.1% | -60.7% | -141.7% | 3.9% | 42.0% | -326.5% |
Diluted EPS [+] | $0.18 | $0.06 | ($0.56) | ($0.25) | $0.11 | $0.09 | ($0.46) | ($0.64) |
Growth | -172.5% | -32.5% | 22.1% | -60.7% | -141.2% | 3.2% | 42.0% | -327.6% |
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Shares outstanding (basic) [+] | 218 | 218 | 217 | 211 | 215 | 214 | 199 | 199 |
Growth | 3.1% | 1.5% | 8.9% | 6.1% | 8.1% | 7.6% | 0.1% | 0.1% |
Shares outstanding (diluted) [+] | 220 | 219 | 217 | 211 | 218 | 216 | 199 | 199 |
Growth | 4.1% | 1.4% | 8.9% | 6.1% | 9.5% | 8.3% | 0.1% | -0.4% |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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