Spirit Airlines (SAVE) Tops Q1 EPS by 5c

Spirit Airlines (NASDAQ: SAVE) reported Q1 EPS of $1.01, $0.05 better than the analyst estimate of $0.96. Revenue for the quarter came in at $538.1 million versus the consensus estimate of $536.18 million.

Total revenue per passenger flight segment ("PFS") for the first quarter 2016 decreased 13.0 percent, or $16.08, year over year to $107.88, primarily driven by a 20.5 percent decrease, or $14.06, in ticket revenue per PFS. Non-ticket revenue declined 3.7 percent, or $2.02, year over year on a per flight segment basis to $53.23. Although non-ticket revenue per passenger segment remains relatively stable, the Company has experienced modest pressure on take rates for certain ancillary items which it believes is correlated to low fare levels in its markets.

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

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