For its fourth quarter Spirit Airlines reported earnings of 56 cents a share. Analysts expected earnings of 50 cents a share for the quarter. Revenue rose 27.9% to $420 million, which is in line with analyst estimates of $430.98 million.
Total revenue per available seat mile was 11.43 cents in the fourth quarter of 2013, up 3% from the year-ago period. The airline said the year-over-year increase is due to strong demand and growth in capacity. The increase is also partly due to the negative impact of Hurricane Sandy in the fourth quarter of 2012.
TheStreet Ratings team rates SPIRIT AIRLINES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SPIRIT AIRLINES INC (SAVE) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."