Frontier Q4 Revenue Flat at $997M, EPS Soars 71.8%, Fleet Deal Announced
Frontier reported Q4 CY2025 revenue of $997 million, flat year-over-year but 2.3% above estimates, and non-GAAP EPS of $0.23, beating consensus by 71.8%. It also struck a non-binding deal to return 24 A320neo jets in Q2 2026 and enact 10 future sale-leasebacks, while deferring 69 Airbus deliveries through 2030.
1. Q4 Financial Highlights
Frontier posted Q4 CY2025 total revenue of $997 million, matching prior-year capacity but surpassing estimates by 2.3%. Non-GAAP EPS reached $0.23 versus consensus of $0.13, and adjusted EBITDA was $287 million generating a 28.8% margin.
2. Fleet Optimization and Orderbook Deferral
The company entered a non-binding agreement with AerCap to return 24 A320neo aircraft in the second quarter of 2026 and to execute 10 sale-leaseback transactions for 2028 and 2029 deliveries. Separately, Frontier agreed with Airbus to defer delivery of 69 A320neo family jets originally scheduled between 2027 and 2030 to right-size future growth.
3. Liquidity and 2026 Guidance
Frontier ended the year with $874 million of total liquidity, including $220 million from its revolver. Management issued full-year 2026 adjusted EPS guidance at $0.05 per share at the midpoint, exceeding analysts’ forecasts by over 300%.