Frontier Group reports Q1 EPS (19c), consensus (21c)

Reports Q1 revenue $912M, consensus $925.11M. “First quarter results reflect softer travel demand primarily during March, with current booking trends suggesting demand for May and early summer travel has now stabilized,” commented Barry Biffle, Chief Executive Officer. “The significant investments we’ve made in our revenue and network initiatives over the past year, combined with our industry leading cost advantage, position us to offer more low fares to more people in more places. One key example is our Economy bundle which we believe provides more relative value than other competing low fares.” Biffle continued, “We are targeting a return to profitability in the second half of the year supported by moderating industry capacity, the leverage from our commercial investments and continued close management of the elements of the business we can control, including capacity optimization and aggressive cost and capital expenditure management. I’m extremely proud of Team Frontier for their contributions throughout the quarter and I’m confident we have the best talent in the industry to work through this environment.”