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Ryan Capozzi

Ryan Capozzi

Research Analyst at Wolfe Research

New York, NY, US

Ryan Capozzi is an equity research analyst at Wolfe Research, where he specializes in transportation sector coverage, with direct focus on companies such as Sun Country Airlines Holdings Inc. and Spirit Airlines (SAVE). His investment insights are informed by participation in earnings calls and close analysis of industry trends, supporting senior analysts in delivering actionable recommendations to institutional clients. Capozzi began his career in equity research after gaining relevant experience in the financial sector and joined Wolfe Research to deepen his focus on airlines and transportation stocks. He is licensed with FINRA and holds the necessary securities registrations to provide professional investment research services.

Ryan Capozzi's questions to Sun Country Airlines Holdings (SNCY) leadership

Question · Q1 2025

Ryan Capozzi asked if there was a path to margin expansion in the second half of the year as the business mix shifts. He also inquired about the expected dynamic between load factor and yield as scheduled service capacity is reduced.

Answer

CEO Jude Bricker answered "Absolutely" to the margin expansion question, citing the absorption of cargo growth and the ability to increase passenger fleet utilization as key drivers. He explained their strategy is to maintain high load factors by scheduling flights only where demand exists, and if demand falls, they will cut the weakest flights to protect margins.

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Fintool

Fintool can predict Sun Country Airlines Holdings logo SNCY's earnings beat/miss a week before the call

Ryan Capozzi's questions to SAVE leadership

Question · Q2 2024

Inquired about 2025 CapEx plans and liquidity targets, and asked for the best-case scenario and steps required for a return to profitability.

Answer

The company will provide 2025 CapEx guidance closer to year-end. A return to profitability is more than a year away and depends on overcoming 10-11 points of near-term margin headwinds (from engine issues, one-time costs, product transition), realizing the 10+ points of margin benefit from the new strategy, and a potential tailwind from a rebalancing of industry supply and demand.

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Fintool

Fintool can predict SAVE logo SAVE's earnings beat/miss a week before the call