Spirit Airlines Earnings: Here’s Why the Stock is Up Now
Spirit Airlines Incorporated (NASDAQ:SAVE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.31%.
Spirit Airlines Incorporated Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 36.36% to $0.45 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 22.85% to $370.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Spirit Airlines Incorporated reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.42. It beat the average revenue estimate of $366.7 million.
Quoting Management: “We are pleased to report strong first quarter results. Our team continues to do a great job delivering among the best results in the industry while offering our customers low base fares. Our average base fare per passenger segment in the first quarter 2013 was $79.09. Spirit is proud to offer extremely low base fares so that, even when adding in optional extras, the total price our customers pay is almost always less than what they would pay on other airlines,” said Ben Baldanza, Spirit’s President and Chief Executive Officer. “We are committed to our low-cost, low-fare strategy and to providing value for our customers and our shareholders.”
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