Spirit Airlines Second Quarter 2024 Earnings: EPS Misses Expectations

Spirit Airlines (NYSE:SAVE) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$1.28b (down 11% from 2Q 2023).
• Net loss: US$192.9m (loss widened by US$190.6m from 2Q 2023).
• US$1.76 loss per share (further deteriorated from US$0.022 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Spirit Airlines EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 23%.

Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Airlines industry in the US.

Performance of the American Airlines industry.

The company's shares are down 6.8% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Spirit Airlines you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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