Spirit Airlines reports Q2 adjusted EPS ($1.44), consensus ($1.36)

Reports Q2 revenue $1.28B, consensus $1.29B. “Summer demand remains robust and load factors have been strong; however, significant industry capacity increases together with ancillary pricing changes in the competitive environment have made it difficult to increase yields, resulting in disappointing revenue results for the second quarter of 2024,” said Ted Christie, Spirit’s President and Chief Executive Officer. “The continued intense competitive battle for the price-sensitive leisure traveler further reinforces our belief that we are on the right path with our transformation plan to redefine low-fare travel with new, high-value travel options that will allow Guests to choose an elevated experience at an affordable price. I want to thank our entire team for their dedication and patience as we execute on these initiatives intended to drive improvement in overall revenue production and put us on the path to profitability.”