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Market Overview

Recap: Spirit Airlines Q2 Earnings

Share:

Shares of Spirit Airlines (NYSE:SAVE) decreased 0.36% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 312.43% year over year to ($3.59), which missed the estimate of ($2.66).

Revenue of $138,529,000 decreased by 86.32% from the same period last year, which beat the estimate of $108,380,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Price Action

Company's 52-week high was at $55.21

Company's 52-week low was at $7.01

Price action over last quarter: Up 58.33%

Company Overview

Spirit Airlines serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its systemwide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.

 

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Posted-In: Earnings