Southwest Airlines 2Q Results: Postgame Scorecard
Southwest Airlines (NYSE:LUV) saw its profit rise in the most recent quarter, coming up above estimates.
Earnings and Revenue The company experienced stronger-than-expected EPS and revenues. The company reported adjusted net income of 36 cents a share versus the 33 cents a share estimate and revenues of $4.62 billion versus the $4.58 billion estimate. The estimates of 13 analysts ranged from profit of 27 cents to profit of 36 cents.
The company's net income for the quarter rose 41.6% to $228 million. Revenue climbed 11.7% from $4.14 billion in the same period last year.
Company Fundamental Trends The company has averaged revenue growth of 27.6% over the past five quarters.
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by 3 cents in the first quarter, 2 cents in the fourth quarter of the last fiscal year and 2 cents in the third quarter of the last fiscal year.
Official Comment: "Record revenues driven by steady growth were sufficient to overcome high jet fuel prices," Chief Executive Gary C. Kelly said.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.