Wall Street expects a year-over-year decline in earnings on lower revenues when Spirit (SAVE) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move ...

Spirit Airlines was supposed to be acquired by JetBlue in early 2024. However, a judge blocked the merger over anti-competitive concerns. Spirit Airlines is now forced to operate on its own, which caused the stock to fall over 50% the week of the announcement. The income statement is in bad shape, but Spirit Airlines' balance sheet may be even worse. The company has just under $1 billion in cash on the balance sheet, $157 million in short-term debt, and over $3 billion in longterm debt. The company is burni ...

Fri JUL 19 2024 12:38 PM ET 18.00 14.00 10.00 6.00 2.77 Jul In no huge surprise, Spiritt Airlines, Inc. (NYSE:SAVE) is set to report a weak Q2 as domestic yieds dipped due to overcapacity. The airtline sector is quickly adjusting capacity to match what's actually record passenger travel in a sign of how the sector has evolved over time. My investment thesis remains Ultra Bullish on the stock with a fare turnaround set to occur in the next 30 days. Source: Finviz Spirit Airlines released weak preliminary num ...

Spirit is flying into a lot of headwinds right now. The entire airline industry is adjusting to softening demand trends. The airline has a lot of options, including renegotiations with creditors or returning planes to lessors to free up capital. But none are long-term answers, and all create future problems. At best, Spirit will find it hard to generate growth. At worst, as Fitzgerald notes, Spirit could be flying toward bankruptcy. Spirit Airlines (SAVE -10.76%) trimmed its outlook for the second quarter, ...

Key Takeaways Spirit Airlines warned that its second-quarter loss would be more than expected, and revenue would fall short of its previous outlook. The company blamed the worse numbers on less-than-anticipated non-ticket revenue. The news sent Spirit Airlines shares to an all-time low. Shares of Spirit Airlines (SAVE) fell to an all-time low Wednesday, a day after the discount carrier warned that its second-quarter loss and revenue would be worse than it had previously expected because non-ticket income ca ...

Spirit Airlines lowered its revenue estimate, citing a decline in non-ticket revenue. That refers to things like bag fees and picking your own seat, which can cost hundreds of dollars. In June, United's CEO criticized the ultra-low-cost carrier business model, saying customers "hate it." Insider Today NSIDER TODA Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Bull Thanks for signing up! Access your favorite topics in a personalized f ...

A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport in Austin, Texas, on Feb. 12, 2024. Spirit Airlines said Tuesday it would post a deeper-than-expected loss for the last quarter because of revenue that came in short of its expectations. Shares of the budget airline were down about 6 % in extended trading after the airline released its investor update in a securities filing. ...

"We are very pleased that Richard Wallman has agreed to join our board," said H. McIntyre "Mac" Gardner, Spirit's Chairman of the Board. "Richard is a wise and respected business leader, with a deep background in financial management, corporate development, and diverse experience on public and private company boards. Richard will be a tremendous resource to the Spirit management team." Spirit Airlines (NYSE: SAVE) is committed to delivering the best value in the sky. We are the leader in providing customiza ...

Photos and video available HERE The airline is also offering members of its Free Spirit® loyalty program 1,500 bonus points on roundtrip flights and 750 bonus points on one-way flights to and from Los Angeles (LAX).*** Travel must be booked by Aug. 15, 2024, and flown by Oct. 31, 2024. | --- | --- | --- | |---------------------------------------|--------------|-------------------| | | | | | Los Angeles (LAX) Service Destination | Frequency | Anniversary Fares | | Atlanta (ATL) | 2x Daily | $57* one way | | ...

Let's delve deeper. Unimpressive Price Performance: Spirit Airlines has declined 82.7% in the past year against its industry's 7.3% growth. In the first quarter of 2024,Labor costs, comprising salaries and benefits (accounting for 29.3% of the total operating expenses), rose by 10.9% year over year to $431.5 million in the first quarter of 2024. Stocks to Consider The company has an impressive earnings surprise history. Its earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters ...