Spirit Airlines beats by $0.02, beats on revs Reports Q4 (Dec) earnings of $0.27 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.25; revenues rose 19.9% year/year to $328.3 mln vs the $324.67 mln consensus, including an estimated $25 million negative revenue impact ($24 million pre-tax income, $15 million after tax) from Hurricane Sandy.

Total revenue per available seat mile for Q4 was 11.10 cents, a decrease of 6.6% compared to the fourth quarter 2011 due to the negative revenue impact from Hurricane Sandy and a 5.3% increase in average stage length. Passenger flight segment volume grew 22.0% year-over-year in the fourth quarter 2012 with average non-ticket revenue per PFS for the fourth quarter 2012 increasing 9.4% year-over-year to $52.73 and average ticket revenue per PFS for the quarter decreasing 8.6% year-over-year to $71.30. The growth in non-ticket revenue per PFS was primarily driven by a passenger usage fee increase implemented late in the fourth quarter of 2011. For the fourth quarter 2012, Spirit achieved an operating margin, excluding special items, of 9.7% (15.8% adjusted for Hurricane Sandy). Adjusted CASM ex-fuel for the fourth quarter 2012 decreased 2.5% year-over-year.

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