Spirit Airlines Past Earnings Performance

Past criteria checks 0/6

Spirit Airlines's earnings have been declining at an average annual rate of -47.9%, while the Airlines industry saw earnings growing at 6.2% annually. Revenues have been growing at an average rate of 12.8% per year.

Key information

-47.9%

Earnings growth rate

-48.6%

EPS growth rate

Airlines Industry Growth	0.09%
Revenue growth rate	12.8%
Return on equity	-39.4%
Net Margin	-8.3%
Next Earnings Update	06 May 2024

Recent past performance updates

Recent updates

Spirit Airlines Non-GAAP EPS of $0.03 beats by $0.11, revenue of $1.34B misses by $10M

Oct 26

Spirit Airlines: Wait For The Payout

Sep 10

Spirit Airlines Non-GAAP EPS of -$0.30 beats by $0.16, revenue of $1.37B beats by $20M

Aug 09

Spirit Airlines vote on Frontier sale expected to fail - report

Jul 27

Spirit Airlines Saga: Asymmetric Risk Opportunity

Jul 14

Spirit Airlines: A Desperation Buy For JetBlue, Vote No On Frontier Airlines

Jul 06

Frontier Takes Top Spot To Acquire Spirit Airlines

Jun 26

Spirit Airlines: JetBlue Buy Offer Is More Compelling

Jun 10

Revenue & Expenses Breakdown
Beta

How Spirit Airlines makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:SAVE Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	5,363	-447	191
30 Sep 23	5,432	-534	191
30 Jun 23	5,517	-413	192
31 Mar 23	5,451	-463	190
31 Dec 22	5,068	-554	178
30 Sep 22	4,665	-371	169
30 Jun 22	4,244	-319	158
31 Mar 22	3,737	-555	144
31 Dec 21	3,231	-473	132
30 Sep 21	2,742	-543	117
30 Jun 21	2,221	-657	99
31 Mar 21	1,500	-513	75
31 Dec 20	1,810	-429	85
30 Sep 20	2,281	-190	101
30 Jun 20	2,871	-8	123
31 Mar 20	3,746	251	152
31 Dec 19	3,831	335	154
30 Sep 19	3,724	346	149
30 Jun 19	3,636	360	148
31 Mar 19	3,475	257	142
31 Dec 18	3,323	156	137
30 Sep 18	3,126	311	132
30 Jun 18	2,909	273	123
31 Mar 18	2,758	339	118
31 Dec 17	2,644	416	113
30 Sep 17	2,556	217	109
30 Jun 17	2,490	238	105
31 Mar 17	2,374	234	99
31 Dec 16	2,320	263	97
30 Sep 16	2,263	291	94
30 Jun 16	2,217	307	91
31 Mar 16	2,186	310	89
31 Dec 15	2,141	317	87
30 Sep 15	2,096	299	82
30 Jun 15	2,041	269	79
31 Mar 15	1,987	257	77
31 Dec 14	1,932	225	75
30 Sep 14	1,877	213	76
30 Jun 14	1,814	207	73
31 Mar 14	1,722	184	70
31 Dec 13	1,654	177	67
30 Sep 13	1,563	153	64
30 Jun 13	1,448	123	61

Quality Earnings: SAVE is currently unprofitable.

Growing Profit Margin: SAVE is currently unprofitable.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: SAVE is unprofitable, and losses have increased over the past 5 years at a rate of 47.9% per year.

Accelerating Growth: Unable to compare SAVE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: SAVE is unprofitable, making it difficult to compare its past year earnings growth to the Airlines industry (164.3%).

Return on Equity

High ROE: SAVE has a negative Return on Equity (-39.45%), as it is currently unprofitable.

Spirit Airlines Past Earnings Performance

Past criteria checks 0/6

Key information

Recent past performance updates

Full year 2023 earnings: EPS misses analyst expectations

Third quarter 2023 earnings released: US$1.44 loss per share (vs US$0.33 loss in 3Q 2022)

Spirit Airlines, Inc. to Report Q3, 2023 Results on Oct 26, 2023

Second quarter 2023 earnings released: US$0.022 loss per share (vs US$0.48 loss in 2Q 2022)

Spirit Airlines, Inc. to Report Q2, 2023 Results on Aug 03, 2023

First quarter 2023 earnings: Revenues in line with analyst expectations

Recent updates

Spirit Airlines, Inc., Annual General Meeting, Jun 07, 2024

Spirit Airlines: The Spirit Is Gone, Time To Sell

Consensus EPS estimates upgraded to US$2.91 loss

Price target decreased by 29% to US$5.06

SAVE Yourself The Trouble On Spirit Airlines

Price target decreased by 17% to US$7.13

Insufficient new directors

JetBlue Airways Corporation (NasdaqGS:JBLU) cancelled the acquisition of Spirit Airlines, Inc. (NYSE:SAVE) from The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK), TIG Advisors, LLC, Fidelity Management & Research Company LLC and others.

Spirit Airlines: Positive Operating Cashflow, Path To Soaring Alone

Spirit Airlines, Inc. Provides Earnings Guidance for the First Quarter of 2024

Full year 2023 earnings: EPS misses analyst expectations

Spirit Airlines Is Not Set For A Chapter 11 Landing In 2024

Price target decreased by 22% to US$13.00

Why The JetBlue Airways Merger Deal With Spirit Airlines Was Blocked

New major risk - Share price stability

Spirit Airlines: Trading Strategies While Waiting For The Airline Merger

Spirit Airlines And JetBlue Deal: No Soft Landings Here

Updating Spirit/JetBlue Merger Probabilities As Trial Concludes

Spirit: An Extreme Merger Arbitrage Opportunity

Buy Spirit Airlines For The Same Reason JetBlue Is: The A321neo

New minor risk - Share price stability

Spirit Airlines Carry-On Fee Class Action Settlement: Claim Submission Now Open

Spirit Airlines Carry-On Fee Class Action Settlement: Claim Submission Now Open

Despite Weak Trading, Spirit JetBlue Merger Could Still Close

Spirit Airlines Announces New, Nonstop Service to Felipe Carillo Puerto International Airport in Tulum, Mexico

Third quarter 2023 earnings released: US$1.44 loss per share (vs US$0.33 loss in 3Q 2022)

Spirit Airlines, Inc. to Report Q3, 2023 Results on Oct 26, 2023

Last Update Before Merger: Spirit Airlines Is A Buy

Consensus EPS estimates fall by 10%

Consensus EPS estimates fall by 14%

Spirit Airlines: Thank You JetBlue

Allegiant Travel Company (NasdaqGS:ALGT) entered into a definitive agreement to acquire Boston Logan and Newark Liberty International Airports from Spirit Airlines, Inc. (NYSE:SAVE).

Consensus EPS estimates fall by 23%

Price target decreased by 8.3% to US$20.00

Spirit Airlines, Inc. Provides Earnings Guidance for Third Quarter 2023

Second quarter 2023 earnings released: US$0.022 loss per share (vs US$0.48 loss in 2Q 2022)

Spirit Airlines, Inc. to Report Q2, 2023 Results on Aug 03, 2023

JetBlue And Spirit Merger Potential Gets Stronger

Spirit Airlines: Value Remains Despite Uncertainties

Frontier Group Holdings, Inc. (NasdaqGS:ULCC) entered into an agreement to acquire LaGuardia Airport from Spirit Airlines, Inc. (NYSE:SAVE).

Inaugural dividend of US$0.10 per share

Price target decreased by 10% to US$21.63

First quarter 2023 earnings: Revenues in line with analyst expectations

Spirit Airlines, Inc. Announces the Launch of New Nonstop Service from San José Mineta International Airport

Spirit Airlines Announces the Launch of Five New, Nonstop Routes from Luis Muñoz Marín International Airport

Inaugural dividend of US$0.10 per share

Spirit Airlines, Inc. Announces Executive Changes

Spirit Airlines expects to hear from DOJ on JetBlue deal in next 30 days

Full year 2022 earnings: EPS misses analyst expectations

Spirit Airlines, Inc. Provides Operating Guidance for the First Quarter of 2023 and Full Year of 2023

Spirit Airlines, Inc. to Report Q4, 2022 Results on Feb 06, 2023

Spirit Airlines to Connect Charleston's Charm with 3 Major Metro Areas Along the East Coast

Insufficient new directors

Insufficient new directors

Third quarter 2022 earnings: EPS misses analyst expectations

Spirit Airlines, Inc. Provides Operating Guidance for the Fourth Quarter of 2022

Insufficient new directors

Spirit Airlines Non-GAAP EPS of $0.03 beats by $0.11, revenue of $1.34B misses by $10M

Spirit Airlines, Inc. to Report Q3, 2022 Results on Oct 26, 2022

Spirit Airlines Embarks on New Daily Service at Norfolk

Spirit Airlines: Wait For The Payout

Spirit Airlines Launches its New, Nonstop Service at Reno–Tahoe International Airport

Spirit Airlines Non-GAAP EPS of -$0.30 beats by $0.16, revenue of $1.37B beats by $20M

Spirit Airlines, Inc.'s First Idaho Flight Takes to the Sky with the Launch of Nonstop Service from Boise

Spirit Airlines, Inc. to Report Q2, 2022 Results on Aug 09, 2022

Spirit Airlines Celebrates its New, Nonstop Service to Albuquerque with a 'Spiritaneous' Giveaway

Frontier Group Holdings, Inc. (NasdaqGS:ULCC) cancelled the acquisition of Spirit Airlines, Inc. (NYSE:SAVE) from The Vanguard Group, Inc., BlackRock, Inc. (NYSE:BLK) and others.

Spirit Airlines vote on Frontier sale expected to fail - report

Spirit Airlines Saga: Asymmetric Risk Opportunity

Revenue & Expenses Breakdown
Beta