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Spirit Airline’s stock slides 3% after earnings fall short amid softer-than-expected peak travel demand

Clyde Edgerton by Clyde Edgerton
August 3, 2023
in Markets
Spirit Airline’s stock slides 3% after earnings fall short amid softer-than-expected peak travel demand
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Spirit Airlines Inc.’s stock SAVE fell 1.7% in premarket trade Thursday, after the low-cost airline’s second-quarter earnings fell short of estimates after a slump in peak summer travel demand. Miramar, Fla.-based Spirit had a net loss of $2.349 million, or 2 cents a share, for the quarter, narrower than the loss of $53.4 million, or 48 cents a share, posted in the year-earlier period. Adjusted per-share earnings came to 29 cents, below the 39 cent FactSet consensus. Revenue rose 4.85 to $1.432 billion from $1.367 billion a year ago, but also missed the $1.473 billion FactSet consensus. Chief Executive Ted Christie said…



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