Southwest Airlines slumps after posting larger-than-anticipated Q1 loss [Seeking Alpha]
Southwest Airlines Company (LUV)
Last southwest airlines company earnings: 4/28 06:00 am
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investors.southwest.com
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Source: Seeking Alpha
"While it is disappointing to incur a first quarter loss, we exited the quarter with healthy profits and margins in the month of March," stated CEO Bob Jordan "While costs remain a headwind, we are realizing benefits from our ongoing cost reduction actions and remain focused on enhancing productivity and controlling discretionary spending," he added. Passenger revenue was up 11.9% year-over-year to $5.71B. Total operating revenue rose 10.9% to $6.33B. Total operating expenses rose 12.2% to $67.72B. Southwest's ( LUV ) load factor rose 70 basis points to 78.3%. Average passenger fare was up 2.9% to $173.76. Passenger revenue per available seat mile rose 0.8%. The company said it expects about 20 Boeing aircraft deliveries this year, down from a prior forecast for 46 aircraft. Looking ahead, Southwest ( LUV ) expects Q2 revenue per available seat mile to decrease in the range of 1.5% to 3.5%, on capacity growth of 8% to 9%. Cost per available seat miles is anticipated to be up 6.5
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LUV
Earnings
- 4/25/24 - Miss
LUV
Sec Filings
- 5/2/24 - Form 4
- 5/1/24 - Form 8-K
- 4/26/24 - Form 10-Q
- LUV's page on the SEC website