Shares of Sun Country Airlines Holdings, Inc. (SNCY) are skyrocketing 12.50% in pre-market trading on Friday, following the release of the company's impressive first-quarter earnings report. The low-cost carrier's results exceeded analyst expectations, demonstrating resilience in a challenging market environment and reversing its recent downward trend.

Sun Country reported adjusted earnings of $0.72 per share for the quarter ended March 31, 2025, surpassing the mean analyst estimate of $0.71. This performance also marked a significant improvement from the same quarter last year when the company reported earnings of $0.66 per share. Revenue rose 4.9% year-over-year to $326.65 million, slightly below the expected $329.84 million but still showing solid growth. The company's net income for the quarter stood at a healthy $36.54 million.

The strong earnings report comes as a welcome relief for Sun Country investors, as the stock had been facing headwinds in recent months. Prior to this pre-market surge, SNCY shares had fallen by 20.5% this quarter and lost 32.8% year-to-date. Despite these challenges, analysts remain optimistic about Sun Country's prospects, maintaining a "buy" rating on the stock. Wall Street's median 12-month price target for SNCY stands at $14.50, suggesting potential upside from current levels. As Sun Country continues to outperform expectations in a tough market environment, investors will be closely watching to see if this positive momentum can be sustained in the coming quarters.