Spirit Airlines Incorporated Earnings: Here’s Why Investors are Happy 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 4.9%.
Spirit Airlines Incorporated Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 18.18% to $0.27 in the quarter versus EPS of $0.33 in the year-earlier quarter.
Revenue: Rose 19.85% to $328.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Spirit Airlines Incorporated reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.24. It beat the average revenue estimate of $327.76 million.
Quoting Management:“2012 was a very exciting year for Spirit. We successfully grew our business, delivered strong financial results and remained committed to our low-cost, low-fare strategy. This low-cost, low-fare strategy helped us to achieve among the highest margins in the industry,” said Ben Baldanza, Spirit’s President and Chief Executive Officer. “I want to thank and congratulate our team members that contributed to our success.”
Key Stats (on next page)…
Revenue decreased 4.1% from $342.32 million in the previous quarter. EPS decreased 22.86% from $0.35 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.42 to a profit $0.41. For the current year, the average estimate has moved down from a profit of $1.46 to a profit of $1.41 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)