This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Spirit Airlines' CEO Discusses Q2 2012 Results - Earnings Call Transcript

Our remarks during this conference call will contain forward-looking statements, which represent the Company's current expectations or beliefs concerning future events and financial performance. Forward-looking statements are not a guarantee of future performance or results. Forward-looking statements with respect to future events are based on information available at the time those statements are made and/or management's belief as of today, July 24, 2012, and are subject to significant risks and uncertainties that could cause actual results, performance to differ materially from those reflected in the forward-looking statements, including the information under the caption 'Risk Factors' included in our 10-K for the year ending December 31, 2011. We undertake no duty to update any forward-looking statements.

In our remarks today, we will be comparing second quarter 2012 to second quarter 2011 results adjusting all periods for proforma items and excluding unrealized hedge gains and losses of special items. Please refer to our second quarter 2012 earnings press release for further details regarding our assumptions for pro forma results and for the reconciliation to the most directly comparable GAAP measure for our non-GAAP measures discussed.

Unless otherwise noted, when we discuss our results, we will be excluding special charges, loss on disposal of assets, and unrealized mark-to-market losses on fuel hedges. These items as well as our pro forma adjustments for the second quarter 2011 are detailed in our earnings release.

And with that I will turn the call over to Ben Baldanza, Spirit's President and Chief Executive Officer.

Ben Baldanza

Thank you, DeAnne, and thanks to everyone joining us for the call today. We're pleased to report our second quarter profit of $35.3 million, this 35.4% year-over-year increase in adjusted net income was achieved while lowering our base fare per segment, to just $81.06. Offering low base fares is a key highlight of our business model, as it gives consumers more pricing power and grows the traveling market.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs