We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Spirit (SAVE) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Read MoreHide Full Article
Spirit (SAVE - Free Report) reported $1.27 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 6.2%. EPS of -$1.46 for the same period compares to -$0.82 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.27 billion, representing a surprise of -0.43%. The company delivered an EPS surprise of -2.10%, with the consensus EPS estimate being -$1.43.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Spirit performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Load factor: 80.7% versus 83% estimated by four analysts on average.
Revenue passenger miles: 10,882.62 million compared to the 11,223.01 million average estimate based on three analysts.
Total operating revenue per ASM: 9.38 cents compared to the 9.45 cents average estimate based on three analysts.
Available seat miles: 13,489.02 million versus the three-analyst average estimate of 13,405.52 million.
Fuel gallons consumed: 140.14 million versus 139.98 million estimated by two analysts on average.
Average fuel cost per gallon: $2.90 versus the two-analyst average estimate of $2.90.
Adjusted CASM ex-fuel: 7.67 cents compared to the 7.59 cents average estimate based on two analysts.
Operating revenues- Passenger: $1.24 billion versus $1.25 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.6% change.
Operating revenues- Fare: $519.94 million compared to the $540.43 million average estimate based on three analysts. The reported number represents a change of -14.6% year over year.
Operating revenues- Other: $26.23 million compared to the $22.83 million average estimate based on three analysts. The reported number represents a change of +17.6% year over year.
Operating revenues- Non-fare: $719.37 million versus $719.63 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
Non-ticket revenue: $745.60 million versus $749.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.6% change.
Shares of Spirit have returned -16.3% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Spirit (SAVE) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Spirit (SAVE - Free Report) reported $1.27 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 6.2%. EPS of -$1.46 for the same period compares to -$0.82 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.27 billion, representing a surprise of -0.43%. The company delivered an EPS surprise of -2.10%, with the consensus EPS estimate being -$1.43.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Spirit performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Load factor: 80.7% versus 83% estimated by four analysts on average.
- Revenue passenger miles: 10,882.62 million compared to the 11,223.01 million average estimate based on three analysts.
- Total operating revenue per ASM: 9.38 cents compared to the 9.45 cents average estimate based on three analysts.
- Available seat miles: 13,489.02 million versus the three-analyst average estimate of 13,405.52 million.
- Fuel gallons consumed: 140.14 million versus 139.98 million estimated by two analysts on average.
- Average fuel cost per gallon: $2.90 versus the two-analyst average estimate of $2.90.
- Adjusted CASM ex-fuel: 7.67 cents compared to the 7.59 cents average estimate based on two analysts.
- Operating revenues- Passenger: $1.24 billion versus $1.25 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -6.6% change.
- Operating revenues- Fare: $519.94 million compared to the $540.43 million average estimate based on three analysts. The reported number represents a change of -14.6% year over year.
- Operating revenues- Other: $26.23 million compared to the $22.83 million average estimate based on three analysts. The reported number represents a change of +17.6% year over year.
- Operating revenues- Non-fare: $719.37 million versus $719.63 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.1% change.
- Non-ticket revenue: $745.60 million versus $749.20 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.6% change.
View all Key Company Metrics for Spirit here>>>Shares of Spirit have returned -16.3% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.