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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 1.29B | 4.5% |
| Gross Profit | 182M | 37% |
| Cost of Revenue | 1.11B | 0.6% |
| Operating expense | 1.47B | 3.3% |
| Net Income | -193M | 35.3% |
| EBITDA | -141M | 25.6% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 9.56B | 0.3% |
| Total Liabilities | 8.75B | 2.6% |
| Total Equity | 810M | 19.2% |
| Shares Outstanding | 110M | 0.1% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | -133M | 2.9% |
| Cash from investing | 153M | 55.1% |
| Cash from financing | -73M | 52.4% |
EPS
Financial Highlights for Spirit Airlines in Q2 '24
Spirit Airlines reported a revenue of 1.29B, which is a 4.5% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 182M, marking a 37% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.11B, a 0.6% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 1.47B, showing a -3.3% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -193M, showing a -35.3% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -141M, showing a -25.6% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Spirit Airlines faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. A decline in EBITDA signals potential operational challenges or increased costs.
