Imperial Capital Raises Price Target on Spirit Airlines (SAVE); Cuts 4Q Estimates
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Spirit Airlines Reports Third Quarter 2016 Results
October 25, 2016 6:00 AM EDTMIRAMAR, Fla., Oct. 25, 2016 (GLOBE NEWSWIRE) -- Spirit Airlines, Inc. (NASDAQ: SAVE) today reported third quarter 2016 financial results.
GAAP net income for the third quarter 2016 was $81.4 million ($1.17 per diluted share), or $86.3 million ($1.24 per diluted share)1 excluding special items. GAAP operating margin for the third quarter 2016 was 21.8 percent, or 23.0 percent2 excluding special items. Spirit ended the third quarter 2016 with unrestricted cash, cash equivalents, and short-term investments of $926.0 million. Spirit's return on invested capital (before taxes and excluding special items) for the twelve months ended September 30, 2016 was 25.3... More