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Spirit Airlines (SAVE) Beats on Q3 Earnings & Revenues
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Spirit Airlines, Inc. (SAVE - Free Report) is a low-cost passenger carrier based in Miramar, FL. The carrier 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 4.4%.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Spirit Airlines’ third quarter 2017 earnings (on an adjusted basis) came in at 94 cents per share, beating the Zacks Consensus Estimate of 90 cents per share. Earnings, however, declined significantly on a year-over-year basis due to high costs. Average fuel price per gallon (economic) increased 12.2% to $1.75 per gallon. The recent hurricanes also hurt results.
Revenue: Spirit Airlines reported operating revenues of $687.2 million, just ahead of the Zacks Consensus Estimate of $686.6 million. A significant increase in non-ticket revenues contributed to the top line expanding 10.6% on a year over year basis.
Key Stats to Note: In the reported quarter, total revenue per available seat mile decreased 6.3% year over year. The metric was hurt by soft passenger yields due to pricing issues. Load factor (% of seats filled by passengers) decreased to 85.3% from 86.4% in the year-ago quarter. Load factor decreased 200 basis points to 84% as traffic growth (15.2%) was outpaced by capacity expansion (18%) during the reported quarter. Adjusted cost per available seat mile, excluding special items and fuel decreased 1.1%.
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Spirit Airlines (SAVE) Beats on Q3 Earnings & Revenues
Spirit Airlines, Inc. (SAVE - Free Report) is a low-cost passenger carrier based in Miramar, FL. The carrier 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 4.4%.
Zacks Rank: Currently, Spirit Airlines has a Zacks Rank #5 (Strong Sell) 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’ third quarter 2017 earnings (on an adjusted basis) came in at 94 cents per share, beating the Zacks Consensus Estimate of 90 cents per share. Earnings, however, declined significantly on a year-over-year basis due to high costs. Average fuel price per gallon (economic) increased 12.2% to $1.75 per gallon. The recent hurricanes also hurt results.
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 $687.2 million, just ahead of the Zacks Consensus Estimate of $686.6 million. A significant increase in non-ticket revenues contributed to the top line expanding 10.6% on a year over year basis.
Key Stats to Note: In the reported quarter, total revenue per available seat mile decreased 6.3% year over year. The metric was hurt by soft passenger yields due to pricing issues. Load factor (% of seats filled by passengers) decreased to 85.3% from 86.4% in the year-ago quarter. Load factor decreased 200 basis points to 84% as traffic growth (15.2%) was outpaced by capacity expansion (18%) during the reported quarter. Adjusted cost per available seat mile, excluding special items and fuel decreased 1.1%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>