Benzinga | Apr 21, 2021 05:09PM EDT

Spirit Airlines: Q1 Earnings Insights

Shares of Spirit Airlines (NYSE:SAVE) moved higher in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share decreased 188.37% over the past year to ($2.48), which beat the estimate of ($2.54).

Revenue of $461,279,000 declined by 40.18% from the same period last year, which beat the estimate of $459,100,000.

Guidance

Spirit Airlines hasn't issued any earnings guidance for the time being.

Spirit Airlines hasn't issued any revenue guidance for the time being.

Price Action

Company's 52-week high was at $40.77

52-week low: $7.25

Price action over last quarter: Up 22.63%

Company Profile

Spirit Airlines Inc serves the United States, Latin America, and Caribbean as an airline operator. It primarily offers customers unbundled base fares to strip out any unneeded travel amenities. If needed, a customer can elect for additional options at an extra charge. Flight crews are entirely interchangeable across all aircraft, and maintenance and other support services are simplified due to not having an overly complex fleet. The company has one operating segment, air transportation, owing to its system wide route structure. It may decide to expand its network if a market is underserved or overpriced. The majority of revenue is derived from the United States.