- Spirit Airlines Inc (NYSE:SAVE) reported fourth-quarter operating revenue growth of 98.1% year-over-year to $987.56 million, and +1.8% compared to 4Q19, beating the consensus of $963.15 million.
- Operating expenses increased 59.3% Y/Y and 24.1% compared to 4Q19 to $1.05 billion.
- Operating loss improved to $(61.55) million, compared to $(159.92) million a year ago.
- Related: Frontier, Spirit Airlines Agree To Merge In $6.6B Deal
- Adjusted EPS loss narrowed to $(0.64) from $(1.63) in 4Q20, beating consensus of $(0.88).
- Adjusted EBITDA was $14.9 million, and margin recovered to 1.5% from -18.3% in 4Q20. The adjusted EBITDA margin was down from 19.4% in 4Q19.
- The load factor was 79.8% on a 9.5% capacity increase versus 4Q19. DOT on-time performance was 78.1%, and its Completion Factor was 97.7%.
- Spirit ended the quarter with $1.7 billion of cash, equivalents, and the liquidity available under its revolving credit facility.
- Price Action: SAVE shares are trading higher by 12.8% at $24.50 during the premarket session on Monday.
