Spirit posts 2Q profit, results beat Street expectations

MarketsAssociated Press

Spirit Airlines Inc. (SAVE) on Friday reported second-quarter earnings of $76.7 million.

The Miramar, Florida-based company said it had profit of $1.05 per share. Earnings, adjusted for non-recurring gains, came to $1.03 per share.

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The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The airline posted revenue of $553.4 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $553.3 million.

Spirit shares have fallen 19 percent since the beginning of the year. The stock has dropped roughly 2 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SAVE at http://www.zacks.com/ap/SAVE

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Keywords: Spirit, Earnings Report