Spirit Airlines Q1 2024 Adj EPS $(1.46) Misses $(1.45) Estimate, Sales $1.265B Miss $1.269B Estimate
Portfolio Pulse from Benzinga Newsdesk
Spirit Airlines reported Q1 2024 adjusted EPS of $(1.46), missing estimates by 0.69%, and sales of $1.265B, missing estimates by 0.35%. This represents a 78.05% decrease in EPS and a 6.23% decrease in sales from the same period last year.
May 06, 2024 | 9:56 am
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NEGATIVE IMPACT
Spirit Airlines reported a larger than expected loss per share and a slight miss in sales for Q1 2024, indicating a significant decrease in performance compared to the same period last year.
The reported earnings miss and sales miss are likely to negatively impact investor sentiment in the short term. The significant decrease in EPS and sales compared to the previous year further exacerbates concerns about the company's performance and recovery trajectory, likely leading to downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100