Spirit Airlines Inc (0L8U.L) Q3 2024 Earnings Report

Spirit Airlines reported a challenging QQ3 2024, with a revenue decline and a full-year-equivalent profitability crisis reflected in negative gross margins, a deep operating loss, and a substantial net loss. Revenue for the quarter was $1.197B, down 4.88% year-over-year and 6.54% quarter-over-quarter, while gross profit was negative by $23.37 million, yielding a gross margin of -1.95%. The company posted an operating loss of $296.44 million and a net loss of $308.24 million, with EPS of -$2.81. EBITDA was -$205.02 million, and the EBITDAR margin stood at -17.13%.