Spirit Airlines, Inc., symbolized as SAVE on the stock exchange, reported a net loss of $142.6 million in the first quarter. This compares to a loss of $103.9 million during the same period last year. The loss per share was reported as $1.30, which is a greater loss than last year's first quarter result of $0.95. After adjustments, the net loss per share was $1.46, a significant increase from last year's first quarter adjusted net loss of $0.82. Interestingly, this performance was slightly better than anticipated- a poll of 12 analysts by Thomson Reuters had predicted an average loss per share of $1.45 for the first quarter.
In terms of operating revenue, Spirit Airlines reported $1.26 billion. This marks a 6.2 % decrease from the revenue generated during the same period the previous year, and is slightly below the average analyst's revenue estimation of $1.27 billion for the quarter.
