Spirit Airlines (SAVE) Tops Q4 EPS by 2c

Spirit Airlines (NASDAQ: SAVE) reported Q4 EPS of $0.80, $0.02 better than the analyst estimate of $0.78. Revenue for the quarter came in at $474.5 million versus the consensus estimate of $480.03 million.

Total revenue per available seat mile ("RASM") for the fourth quarter 2014 decreased 5.1 percent compared to the fourth quarter 2013 on a capacity increase of 18.9 percent. The decrease was driven by a mix of lower passenger yields and a 1.4 point decline in load factor.

Total revenue per passenger flight segment ("PFS") for the fourth quarter 2014 decreased 3.7 percent year over year to $127.91, driven by a 6.1 percent decrease in ticket revenue per PFS and a 0.3 percent decrease in non-ticket revenue per PFS. During the fourth quarter, the Company transitioned its onboard catering to a third-party provider under a revenue share agreement. As a result of this change, in the fourth quarter 2014, the Company recorded lower non-ticket revenue and correspondingly lower costs than it would have otherwise.

For earnings history and earnings-related data on Spirit Airlines (SAVE) click here.

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