Spirit (SAVE) Q4 Earnings Meet Estimates, Q1 TRASM View Weak
Zacks Investment Research | Feb 05, 2019 08:04PM ET
Spirit Airlines, Inc.’s (NYSE:SAVE) fourth-quarter 2018 earnings per share (excluding 4 cents from non-recurring items) of $1.38 were in line with the Zacks Consensus Estimate. Meanwhile, the bottom line improved significantly year over year.
Following the earnings release, shares of the company declined more than 3% in after-hours trading on Feb 5 due to its soft first-quarter unit revenue outlook. The company expects total revenue per available seat mile (TRASM) to increase approximately 5% year over year during the first quarter of 2019. This is certainly a conservative outlook, given the airline’s fourth-quarter TRASM improvement of 11.4% on a year-over-year basis.
The carrier recorded revenues of $862.8 million, above the Zacks Consensus Estimate of $852.2 million. Also, the top line rose 29.4% year over year owing to 27% and 7.6% rise in non-ticket revenues and operating yields, respectively. Passenger revenues accounting for bulk (98.1%) of the top line jumped 30.1% year over year.
Spirit Airlines, Inc. Price, Consensus and EPS Surprise
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