Spirit Airlines Expects Q3 Revenue of $1.245B-$1.255B (Prior $1.30B-$1.32B) Vs $1.32B Est and Adjusted Operating Margin (14.5)% to (15.5)% (Prior (5.5)% to (7.5)%)
Portfolio Pulse from Benzinga Newsdesk
Spirit Airlines has revised its Q3 revenue forecast to $1.245B-$1.255B, down from the previous estimate of $1.30B-$1.32B. The company also expects its adjusted operating margin to be between (14.5)% and (15.5)%, a significant drop from the prior range of (5.5)% to (7.5)%.
September 13, 2023 | 10:26 am
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NEGATIVE IMPACT
Spirit Airlines' lower Q3 revenue forecast and larger expected operating margin loss could negatively impact its stock price in the short term.
Spirit Airlines' revised Q3 forecast is lower than the previous estimate, indicating potential financial difficulties. This could lead to a decrease in investor confidence and a subsequent drop in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100