Spirit Airlines beats by $0.04, reports revs in-line :
- Reports Q2 (Jun) earnings of $1.14 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $1.10; revenues rose 20.1% year/year to $701.68 mln vs the $702.29 mln Capital IQ Consensus.
- Total revenue per available seat mile (:TRASM) for the second quarter 2017 increased 5.7 percent compared to the same period last year. During the second quarter 2017, the Company's results benefited from the calendar shift of Easter, as well as Company driven revenue initiatives and a strong underlying demand environment.
- "While our cost performance for the second quarter was not satisfactory, we do not believe it materially changes our long-term cost outlook and are confident that we will continue to maintain, or grow, our relative cost advantage," said Ted Christie, Spirit's Executive Vice President and Chief Financial Officer.
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