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Spirit Airlines, Inc. (SAVE - Free Report) is a low-cost passenger carrier based in Fort Lauderdale providing travel opportunity principally to and from South Florida, the Caribbean and Latin America. Spirit Airlines Inc. is based in Miramar, FL.
The carrier is benefiting from plunging oil prices. Moreover, it is constantly making efforts to expand by adding new flights. Spirit Airlines has an encouraging track record having delivered positive earnings surprises in each of the last four quarters, with an average beat of 4.71%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Spirit Airlines’ fourth quarter 2016 earnings (on an adjusted basis) came in at 77 cents per share, beating the Zacks Consensus Estimate of 74 cents. Earnings declined 24.5% on a year-over-year basis. Increased labor costs contributed to the year-over-year decline.
Revenue: Spirit Airlines reported operating revenues of $578.4 million, just short of the Zacks Consensus Estimate of $578.5 million. A 12.9% increase in flight volume contributed to the top line expanding 11.3% on a year over year basis.
Key Stats to Note: In the reported quarter, operating revenue per available seat mile fell 3.6% year over year while load factor (% of seats filled by passengers) decreased to 81.4% from 82.9% in the year-ago quarter. Load factor decreased as traffic growth (13.4%) was outpaced by capacity expansion (15.4%) during the fourth quarter of 2016. Cost per available seat mile, excluding special items and fuel increased 5.6% to 5.44 cents.
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Spirit Airlines (SAVE) Beats on Q4 Earnings
Spirit Airlines, Inc. (SAVE - Free Report) is a low-cost passenger carrier based in Fort Lauderdale providing travel opportunity principally to and from South Florida, the Caribbean and Latin America. Spirit Airlines Inc. is based in Miramar, FL.
The carrier is benefiting from plunging oil prices. Moreover, it is constantly making efforts to expand by adding new flights. Spirit Airlines has an encouraging track record having delivered positive earnings surprises in each of the last four quarters, with an average beat of 4.71%.
Zacks Rank: Currently, Spirit Airlines has a Zacks Rank #2 (Buy) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Spirit Airlines’ fourth quarter 2016 earnings (on an adjusted basis) came in at 77 cents per share, beating the Zacks Consensus Estimate of 74 cents. Earnings declined 24.5% on a year-over-year basis. Increased labor costs contributed to the year-over-year decline.
Spirit Airlines, Inc. Price and EPS Surprise
Spirit Airlines, Inc. Price and EPS Surprise | Spirit Airlines, Inc. Quote
Revenue: Spirit Airlines reported operating revenues of $578.4 million, just short of the Zacks Consensus Estimate of $578.5 million. A 12.9% increase in flight volume contributed to the top line expanding 11.3% on a year over year basis.
Key Stats to Note: In the reported quarter, operating revenue per available seat mile fell 3.6% year over year while load factor (% of seats filled by passengers) decreased to 81.4% from 82.9% in the year-ago quarter. Load factor decreased as traffic growth (13.4%) was outpaced by capacity expansion (15.4%) during the fourth quarter of 2016. Cost per available seat mile, excluding special items and fuel increased 5.6% to 5.44 cents.
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>