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Here's What Key Metrics Tell Us About Spirit (SAVE) Q4 Earnings
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For the quarter ended December 2023, Spirit (SAVE - Free Report) reported revenue of $1.32 billion, down 5% over the same period last year. EPS came in at -$1.36, compared to $0.12 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.32 billion, representing a surprise of +0.13%. The company delivered an EPS surprise of +3.55%, with the consensus EPS estimate being -$1.41.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Spirit performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Load factor: 80.1% versus 83.6% estimated by four analysts on average.
Revenue passenger miles: 11,830.72 million versus the three-analyst average estimate of 12,423.42 million.
Total operating revenue per ASM: 8.94 cents compared to the 8.91 cents average estimate based on three analysts.
Available seat miles: 14,778.37 million compared to the 14,736.15 million average estimate based on three analysts.
Fuel gallons consumed: 153.12 million compared to the 154.5 million average estimate based on two analysts.
Average fuel cost per gallon: $3.18 versus the two-analyst average estimate of $3.17.
Adjusted CASM ex-fuel: 6.75 cents versus the two-analyst average estimate of 6.81 cents.
Operating revenues- Passenger: $1.30 billion versus the three-analyst average estimate of $1.29 billion. The reported number represents a year-over-year change of -5.3%.
Operating revenues- Fare: $555.21 million compared to the $504.53 million average estimate based on three analysts. The reported number represents a change of -15.9% year over year.
Operating revenues- Other: $25.05 million versus the three-analyst average estimate of $24.02 million. The reported number represents a year-over-year change of +15.7%.
Operating revenues- Non-fare: $741.51 million versus $771.71 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
Non-ticket revenue: $766.55 million versus $852.30 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.
Shares of Spirit have returned -55.8% over the past month versus the Zacks S&P 500 composite's +6.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Spirit (SAVE) Q4 Earnings
For the quarter ended December 2023, Spirit (SAVE - Free Report) reported revenue of $1.32 billion, down 5% over the same period last year. EPS came in at -$1.36, compared to $0.12 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.32 billion, representing a surprise of +0.13%. The company delivered an EPS surprise of +3.55%, with the consensus EPS estimate being -$1.41.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Spirit performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Load factor: 80.1% versus 83.6% estimated by four analysts on average.
- Revenue passenger miles: 11,830.72 million versus the three-analyst average estimate of 12,423.42 million.
- Total operating revenue per ASM: 8.94 cents compared to the 8.91 cents average estimate based on three analysts.
- Available seat miles: 14,778.37 million compared to the 14,736.15 million average estimate based on three analysts.
- Fuel gallons consumed: 153.12 million compared to the 154.5 million average estimate based on two analysts.
- Average fuel cost per gallon: $3.18 versus the two-analyst average estimate of $3.17.
- Adjusted CASM ex-fuel: 6.75 cents versus the two-analyst average estimate of 6.81 cents.
- Operating revenues- Passenger: $1.30 billion versus the three-analyst average estimate of $1.29 billion. The reported number represents a year-over-year change of -5.3%.
- Operating revenues- Fare: $555.21 million compared to the $504.53 million average estimate based on three analysts. The reported number represents a change of -15.9% year over year.
- Operating revenues- Other: $25.05 million versus the three-analyst average estimate of $24.02 million. The reported number represents a year-over-year change of +15.7%.
- Operating revenues- Non-fare: $741.51 million versus $771.71 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.5% change.
- Non-ticket revenue: $766.55 million versus $852.30 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +4.8% change.
View all Key Company Metrics for Spirit here>>>Shares of Spirit have returned -55.8% over the past month versus the Zacks S&P 500 composite's +6.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.