Spirit Airlines (Nasdaq: SAVE) reported earnings on July 24. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), Spirit Airlines beat slightly on revenue and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share expanded significantly.

Margins expanded across the board.

Revenue details
Spirit Airlines reported revenue of $346.3 million. The six analysts polled by S&P Capital IQ wanted to see a top line of $342.8 million on the same basis. GAAP reported sales were 26% higher than the prior-year quarter's $275.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.49. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.47 per share. GAAP EPS of $0.48 for Q2 were 17% higher than the prior-year quarter's $0.41 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 30.6%, 400 basis points better than the prior-year quarter. Operating margin was 15.9%, 240 basis points better than the prior-year quarter. Net margin was 10.0%, 390 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $367.3 million. On the bottom line, the average EPS estimate is $0.60.

Next year's average estimate for revenue is $1.37 billion. The average EPS estimate is $1.94.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 50 members out of 71 rating the stock outperform, and 21 members rating it underperform. Among 15 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), seven give Spirit Airlines a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Spirit Airlines is buy, with an average price target of $29.44.

Over the decades, small-cap stocks like Spirit Airlines have provided market-beating returns, provided they're value-priced and have solid businesses. Read about a pair of companies with a lock on their markets in "Too Small to Fail: Two Small Caps the Government Won't Let Go Broke." Click here for instant access to this free report.