NEW YORK (TheStreet) -- Spirit Airlines (SAVE)  shares are getting a lift on Tuesday, up 1.85% to $50.50 after the carrier released its 2016 first quarter results this morning that came in higher than Wall Street's projections. 

During the latest period, the Miramar, FL-based company earned a profit of $1.01 a share, beating analysts' estimates of 96 cents a share. A year ago, it earned 96 cents a share. 

Revenue surged 9.1% year-over-year to $536.2 million, also topping forecasts of $536.18 million.

"The pricing environment remains very competitive, but we aren't just sitting passively by," CEO Bob Fornaro stated. "We have upgraded our pricing systems, made modest revisions to our schedules, and adjusted our approach to inventory management, all of which have produced improvements to our revenue results."

Overall, a decline in fuel prices helped lift earnings during the recent quarter, as this translates into savings. 

Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B-.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

You can view the full analysis from the report here: SAVE