Spirit posts 4Q profit, results top Street expectations

Spirit Airlines Inc. (SAVE) on Tuesday reported fourth-quarter net income of $55.9 million.

The Miramar, Florida-based company said it had profit of 76 cents per share. Earnings, adjusted for non-recurring costs, came to 80 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The airline posted revenue of $474.5 million in the period, also surpassing Street forecasts. Analysts expected $473.6 million, according to Zacks.

For the year, the company reported profit of $225.5 million, or $3.08 per share. Revenue was reported as $1.93 billion.

Spirit shares have risen nearly 1 percent since the beginning of the year. The stock has climbed 65 percent in the last 12 months.


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


Keywords: Spirit, Earnings Report