Friday, January 19, 2024

Spirit Airlines Preliminary Q4 Revenue At High End Of Initial Guidance; Stock Surges

Spirit Airlines, Inc. (SAVE) said its fourth quarter total revenue is expected to be at the high end of the company's initial guidance, as bookings for the peak travel period over Christmas and New Years were strong. Fourth quarter total revenues are projected to be $1.32 billion. Adjusted operating margin guidance for the fourth quarter is positively revised 450 basis points from negative 15 to 19 percent to negative 12 to 13 percent. Operating expenses are estimated to come in better than expected, the company noted.

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