Spirit Airlines' Return to Unit Revenue Growth Looks Short-Lived

Investors came into Spirit Airlines' (NASDAQ: SAVE) Q2 earnings report expecting an improved revenue picture that would help boost earnings for the remainder of 2017. Instead they got a clear picture of just how much Spirit's spate of May cancellations cost the company, and an unexpected ugly outlook for the back half of the year to boot, sending shares plummeting near 52-week lows. Despite basically meeting expectations on the top line and beating on the bottom line, Spirit delivered -- in CEO Bob Fornaro's own words -- a "disappointing" quarter.