Spirit Airlines 2Q24 Earnings Review

Earnings and guidance are a blow to management's credibility and CFO departure comes at an irritating moment. Delivering on restructuring efforts is key. But are their targets ambitious enough?

Disclaimer: The information contained in this article is not and should not be construed as investment advice. This is my investing journey and I simply share what I do and why I do that for educational and entertainment purposes.

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Documenting much of my investment process publicly forces me to keep myself accountable for what I have uttered in the past. Generally, this is an enjoyable aspect because I can celebrate when an analysis ages well. I don’t care so much about proving myself to others, but I do realize that it builds credibility which is the foundation for growing this publication.

However, some analyses don’t age well at all and then I have to pick up the shattered pieces of prior work. The Road to Canossa is painful to walk on. Today is such a day as I am providing an update on Spirit Airlines SAVE 0.00%↑ subsequent to their 2Q24 earnings release. I was very bullish on this stock earlier this year when it was at around $6. As of this writing, it’s trading at $2.70. A disastrous underperformance in the middle of a raging bull market.

So, what went wrong? And is there any hope for this thing to turn around?

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