Spirit Airlines dips after issuing financial update

seekingalpha04-15

Spirit Airlines (NYSE:SAVE) issued preliminary Q1 results in a SEC filing on Monday. The airline company said it expects Q1 revenue of $1.265B vs. prior guidance for $1.25B to $1.28B and the consensus...

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The airline company said it expects Q1 revenue of $1.265B vs. prior guidance for $1.25B to $1.28B and the consensus...</p>\n\n<a href=\"https://seekingalpha.com/news/4089519-spirit-airlines-dips-after-issuing-financial-update\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Spirit Airlines dips after issuing financial update</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSpirit Airlines dips after issuing financial update\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-15 19:24 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4089519-spirit-airlines-dips-after-issuing-financial-update><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Spirit Airlines (NYSE:SAVE) issued preliminary Q1 results in a SEC filing on Monday. The airline company said it expects Q1 revenue of $1.265B vs. prior guidance for $1.25B to $1.28B and the consensus...</p>\n\n<a href=\"https://seekingalpha.com/news/4089519-spirit-airlines-dips-after-issuing-financial-update\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SAVE.AU","symbol_name":"PINNACLE ASHARES GB DYN INC","start_time":0,"source_url":"https://seekingalpha.com/news/4089519-spirit-airlines-dips-after-issuing-financial-update","article_id":"2427793430","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1177550122/image_1177550122.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2427793430","pubTimestamp":1713180242,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Spirit Airlines (NYSE:SAVE) issued preliminary Q1 results in a SEC filing on Monday. The airline company said it expects Q1 revenue of $1.265B vs. prior guidance for $1.25B to $1.28B and the consensus","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SAVE.AU":"PINNACLE ASHARES GB DYN INC","BK4500":"航空公司","SAVE":"Spirit Airlines","BK4008":"航空公司"},"translate_title":"精神航空发布财务更新后下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SAVE":1,"SAVE.AU":1},"content_text":"Spirit Airlines (NYSE:SAVE) issued preliminary Q1 results in a SEC filing on Monday. The airline company said it expects Q1 revenue of $1.265B vs. prior guidance for $1.25B to $1.28B and the consensus estimate of $1.27B. Spirit Airlines (SAVE) also reported capacity growth of 2.1% for the quarter to top the company's prior guidance of +1.5%. Spirit Airlines (SAVE) said it entered into an agreement with International Aero Engines, an affiliate of Pratt & Whitney, pursuant to which IAE will provide Spirit with a monthly credit through the end of 2024. The estimated impact of the agreement on SAVE's liquidity for the full year 2024 is currently expected to be between $150M and $200M. Spirit (SAVE) intends to discuss appropriate arrangements with Pratt & Whitney in due course for any Spirit aircraft that remain unavailable for operational service after December 31, 2024. Spirit Airlines (SAVE) now estimates it will recognize approximately $1.6M of credits related to AOG aircraft in the first quarter. Despite the estimated amount of credit recognized during the quarter being significantly less-than-expected, total operating expenses for the quarter are estimated to be in line with the company's prior guidance primarily due to better-than-expected operational efficiencies that drove less labor and other expense. In addition, airport rents and landing fees are estimated to come in favorable compared to SAVE's original forecast due to signatory adjustments and lower airport rent expense driven by network changes. Spirit (SAVE) currently estimates Q1 adjusted operating margin will be in the range of -14.5% to -13.5%. If the company had recognized all the AOG credits to be received for AOG aircraft in the quarter, Sve estimates its operating margin would have been -11.5% TO -10.5%. Shares of Spirit Airlines (SAVE) tricked 0.48% lower in premarket trading on Monday. The airline stock is down more than 70% on a year-to-date basis.  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