Southwest Airlines Co. (LUV Quick QuoteLUV - 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’ third-quarter earnings per share (on an adjusted basis) of 93 cents per share surpassed the Zacks Consensus Estimate of 88 cents per share.

Revenue: Southwest Airlines reported revenues of $5,139 million edged past the Zacks Consensus Estimate of $5,132 million. Revenues decreased 3.4% on a year over year basis.

Key Stats: In the reported quarter, revenue per available seat mile (RASM) stood at 13.57 cents, down 4.1% year over year. Moreover, the carrier anticipates RASM to decline in the band of 4% to 5% in the fourth quarter of 2016 compared to the same period in 2015.

SOUTHWEST AIR Price and EPS Surprise

SOUTHWEST AIR Price and EPS Surprise | SOUTHWEST AIR Quote

Check back later for our full write up on this Southwest Airlines earnings report later!

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