Benzinga | Jul 28, 2021 04:48PM EDT

Recap: Spirit Airlines Q2 Earnings

Shares of Spirit Airlines (NYSE:SAVE) rose after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 90.53% year over year to ($0.34), which beat the estimate of ($0.86).

Shares of Spirit Airlines (NYSE:SAVE) rose after-market trading after the company reported Q2 results.

Quarterly Results



Earnings per share were up 90.53% year over year to ($0.34), which beat the estimate of ($0.86).

Revenue of $859,309,000 rose by 520.31% from the same period last year, which beat the estimate of $809,390,000.

Guidance



Spirit Airlines Sees Q3 2021 Revs $1B-$1.01B Vs $959.33M Est

Price Action



Company's 52-week high was at $40.77

Company's 52-week low was at $14.65

Price action over last quarter: down 19.63%

Company Overview



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.