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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 4.70%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Spirit Airlines’ first quarter 2017 earnings (on an adjusted basis) came in at 51 cents per share, beating the Zacks Consensus Estimate of 49 cents. Earnings declined 49.5% on a year-over-year basis.
Revenue: Spirit Airlines reported operating revenues of $591.7 million, just short of the Zacks Consensus Estimate of $591.9 million. An increase in flight volume by 11.9% contributed to the top line expanding 9.96% on a year over year basis.
Key Stats to Note: In the reported quarter, operating revenue per available seat mile fell 4.2% year over year while load factor (% of seats filled by passengers) decreased to 81.6% from 84.7% in the year-ago quarter. Load factor decreased as traffic growth (10.7%) was outpaced by capacity expansion (14.9%) during the first quarter of 2017. Cost per available seat mile, excluding special items and fuel increased 0.5% to 5.62 cents.
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Spirit Airlines (SAVE) Beats on Q1 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 4.70%.
Zacks Rank: Currently, Spirit Airlines has a Zacks Rank #3 (Hold) 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’ first quarter 2017 earnings (on an adjusted basis) came in at 51 cents per share, beating the Zacks Consensus Estimate of 49 cents. Earnings declined 49.5% on a year-over-year basis.
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 $591.7 million, just short of the Zacks Consensus Estimate of $591.9 million. An increase in flight volume by 11.9% contributed to the top line expanding 9.96% on a year over year basis.
Key Stats to Note: In the reported quarter, operating revenue per available seat mile fell 4.2% year over year while load factor (% of seats filled by passengers) decreased to 81.6% from 84.7% in the year-ago quarter. Load factor decreased as traffic growth (10.7%) was outpaced by capacity expansion (14.9%) during the first quarter of 2017. Cost per available seat mile, excluding special items and fuel increased 0.5% to 5.62 cents.
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>