Spirit Airlines (Nasdaq: SAVE) is expected to report Q2 earnings around July 24. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Spirit Airlines's revenues will expand 17.9% and EPS will grow 26.5%.

The average estimate for revenue is $408.2 million. On the bottom line, the average EPS estimate is $0.62.

Revenue details
 Last quarter, Spirit Airlines logged revenue of $370.4 million. GAAP reported sales were 23% higher than the prior-year quarter's $301.5 million.

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

EPS details
 Last quarter, non-GAAP EPS came in at $0.45. GAAP EPS of $0.42 for Q1 were 31% higher than the prior-year quarter's $0.32 per share.

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

Recent performance
 For the preceding quarter, gross margin was 27.5%, 70 basis points better than the prior-year quarter. Operating margin was 13.5%, 100 basis points better than the prior-year quarter. Net margin was 8.2%, 40 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $1.60 billion. The average EPS estimate is $2.14.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 96 members out of 116 rating the stock outperform, and 20 members rating it underperform. Among 31 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Spirit Airlines a green thumbs-up, and five 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 $28.75.

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