Frontier Group Holdings, Inc. appointed Michael Delehant Executive Vice President, Chief Operating Officer effective November 30, 2026, and announced other leadership changes, including James Fenner’s promotion and departures of Trevor Stedke and Alexandre Clerc effective November 13, 2026.
ULCC · Frontier Group Holdings, Inc.
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Frontier Group Holdings reported record third-quarter revenue of $1.4 billion, up 53% year over year, RASM growth of 30%, and adjusted diluted earnings per share of $0.18; it targets $200 million of annual run rate cost savings by 2027.
Frontier Group Holdings reported nine-month operating revenue of $3,626 million, up 33%, but a $466 million net loss; operating expenses reached $4,114 million and available liquidity totaled $1,178 million at September 30, 2026.
Frontier Group Holdings reported third-quarter 2026 revenue of $1.4 billion, up 53 percent year over year, and adjusted net income of $40 million, or $0.18 per diluted share; GAAP net loss was $104 million.
Metrics snapshot
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Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q3 FY26 earnings call · Oct 28, 2026TL;DR. Frontier delivered record Q3 revenue of approximately $1.4 billion, up 53% year over year, with RASM up 30%, adjusted EPS of $0.18 significantly above guidance, improved adjusted profitability, stronger liquidity and lower leverage, and progress on fleet, cost, operations and loyalty initiatives. Q4 RASM is expected to rise over 20%, but adjusted EPS is guided to a range of a $0.15 loss to a $0.05 profit amid elevated fuel costs, while GAAP losses, non-recurring charges and unresolved pilot negotiations remain risks.
- + Record Q3 revenue rose 53% to approximately $1.4 billion. new
- + RASM increased 30% to 11.87 cents on 18% higher capacity. new
- + Adjusted EPS of $0.18 significantly exceeded guidance and adjusted pre-tax margin improved nearly 12 percentage points to 3%. new
- + Loyalty-related revenue improved 37% year over year and provides recurring revenue streams. new
- + Liquidity was $1.18 billion and leverage fell to just over four times trailing adjusted EBITDA. new
- + Fleet right-sizing is substantially complete and is expected to produce $200 million of annual run-rate savings by 2027, including lower maintenance obligations. new
- − Fuel expense rose 56% year over year, adding approximately $150 million of incremental expense. new
- − The latest aircraft early-return agreement resulted in $134 million of non-recurring charges in Q3. new
- − A court ruling regarding TSA fees resulted in a $73 million charge to passenger revenue for prior years. new
- − Pilot contract negotiations remain unresolved and active negotiations are expected to begin in the new year. new
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
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Key metrics
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Versus peers
Airlines — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
ULCC
this stock
Frontier Group Holdings, Inc.
|
$1.64B | +51.2% | -1.4% | — | 10.8% |
|
DAL
Delta Air Lines, Inc.
|
$58.71B | +23.0% | +4.0% | 17.9 | 3.2% |
|
UAL
United Airlines Holdings, Inc.
|
$35.90B | -1.2% | +3.2% | 10.1 | 4.1% |
|
RYAAY
Ryanair Holdings PLC
|
$29.74B | -18.9% | — | — | 0.0% |
|
LUV
Southwest Airlines Co
|
$22.73B | +7.5% | +3.7% | 22.9 | 4.8% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 2, 2026
- This year
- 23
Frontier Group Holdings, Inc. appointed Michael Delehant Executive Vice President, Chief Operating Officer effective November 30, 2026, and announced other leadership changes, including James Fenner’s promotion and departures of Trevor Stedke and Alexandre Clerc effective November 13, 2026.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| ULCC | +9.9% | +20.1% | +49.9% | +10.4% | +51.2% |
| SPY | -4.7% | -5.3% | -0.8% | -3.0% | +7.5% |
| vs SPY | +14.6% | +25.4% | +50.7% | +13.4% | +43.7% |