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Southwest Airlines (LUV) Misses on Q2 Earnings
Southwest Airlines Co. (LUV - Free Report) is a low-cost passenger carrier that provides scheduled air transportation in the United States. Earlier, it completed the acquisition of AirTran Holdings, which now operates as a wholly owned subsidiary.
Currently, Southwest Airlines has a Zacks Rank #5 (Strong Sell), but that could definitely change following the carrier’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Southwest Airlines’ second-quarter earnings per share (on an adjusted basis) of $1.19 per share fell short of the Zacks Consensus Estimate of $1.22 per share. Earnings, however, expanded 15.5% on a year over year basis.
SOUTHWEST AIR Price and EPS Surprise
SOUTHWEST AIR Price and EPS Surprise | SOUTHWEST AIR Quote
Revenue: Southwest Airlines reported revenues of $5,384 million edged past the Zacks Consensus Estimate of $5,372 million. Revenues increased 5.3% on a year over year basis.
Key Stats: In the reported quarter, revenue per available seat mile (RASM) stood at 14.09 cents, up 0.6% year over year. Moreover, the carrier anticipates RASM to decline in the band of 3% to 4% in the third quarter of 2016.
Check back later for our full write up on this Southwest Airlines earnings report later!
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