Spirit Airlines Inc reports results for the quarter ended in June - Earnings Summary

Spirit Airlines

01/08/2024 14:31

* Spirit Airlines Inc  SAVE.N  reported a quarterly adjusted
loss
of $1.44​​ per share for the quarter ended in June, lower than
the same quarter last year, when the company reported EPS of 29
cents.  The mean expectation of thirteen analysts for the
quarter was for a loss of $1.36 per share. Wall Street expected
results to range from $-1.47 to $-1.19 per share.
    * Revenue fell 10.6% to $1.28 billion from a year ago;
analysts
expected $1.29 billion. 
    * Spirit Airlines Inc's reported EPS for the quarter was a
loss of
$1.76​.
    * The company reported a quarterly loss of $192.93 million.
    * Spirit Airlines Inc shares had fallen by 17.8% this
quarter and
lost 81.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 167.8% in the last three months.​ 
    * In the last 30 days, ten analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "sell"
and
the breakdown of recommendations is no "strong buy" or "buy," 4
"hold" and 9 "sell" or "strong sell." 
    * The average consensus recommendation for the airlines peer
group
is also "sell"

Wall Street's median 12-month price target for Spirit Airlines
Inc is $2.75 
This summary was machine generated from LSEG data August 1 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -1.36          -1.44          Missed
 Mar. 31 2024      -1.45          -1.46          Missed
 Dec. 31 2023      -1.46          -1.36          Beat
 Sep. 30 2023      -1.48          -1.37          Beat