Spirit Airlines (SAVE) Posts Narrower-Than-Expected Q3 Loss

UAL LUV AAL SAVE

Spirit Airlines’ (SAVE - Free Report) third-quarter 2021 loss (excluding 83 cents from non-recurring items) of 69 cents per share was narrower than the Zacks Consensus Estimate of a loss of 95 cents and the year-ago loss of $2.32. In third-quarter 2019 (pre-coronavirus era), the carrier had reported earnings of $1.32 per share.

Operating revenues of $922.6 million increased in excess of 100% year over year. This massive year-over-year jump reflects improving air-travel demand as COVID-19 cases fall and the threat of the Delta variant recedes in the United States. Revenues increased 7.4%, sequentially. However, quarterly revenues declined 7% from the third-quarter 2019 actuals. Revenues were also lower than the Zacks Consensus Estimate of $935.4 million.

Zacks Naming Top 10 Stocks for 2024

Want to be tipped off early to our 10 top picks for the entirety of 2024?

History suggests their performance could be sensational.

From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.

Be First to New Top 10 Stocks >>