1 year ago
108
Southwest Airlines Boeing 737-700 craft arsenic seen landing astatine dusk clip astatine Ronald Reagan Washington National Airport DCA successful Arlington County, Virginia implicit the Potomac River successful the United States of America flying implicit h2o and buildings.
Nicolas Economou | Nurphoto | Getty Images
Southwest Airlines shares slid much than 6% successful premarket trading Thursday aft the hose reported a driblet successful portion revenues and higher costs for the 3 months ended June 30.
The airline's second-quarter portion gross dropped 8.3% from a twelvemonth earlier, Southwest said. For the 3rd quarter, Southwest said it expects portion gross to autumn arsenic overmuch arsenic 7% connected capableness up 12% from a twelvemonth earlier.
The bearer blamed "challenging comparisons from the pent-up question request surge successful 2022, and higher than seasonally-normal growth."
Here's however Southwest performed successful the second quarter, compared with Wall Street expectations according to Refinitiv statement estimates:
Adjusted net per share: $1.09 vs. an expected $1.10Total revenue: $7.04 cardinal vs. an expected $6.98 billionThe airline's nett income fell to $683 million, oregon $1.08 a share, down 10% from $760 million, oregon $1.20 per share, during the 2nd 4th of 2022.
Revenue, nevertheless came successful astatine a grounds $7.04 billion, up of expert expectations and up 4.6% from the aforesaid 4th past year.
Southwest executives volition clasp an expert and media telephone astatine 12:30 ET, erstwhile they're expected to look questions astir maturation plans and advancement connected improving exertion to debar a repetition of the vacation meltdown. They are besides apt to supply an update connected what has been hard labour talks with pilots.
This is breaking news. Check backmost for updates.
English (US) ·