Southwest Airlines earnings for the fourth quarter of 2018 has LUV stock flying higher on Thursday.

Southwest Airlines’ (NYSE:LUV) earnings report for the fourth quarter of the year includes earnings per share of $1.17. This is better than the company’s earnings per share of 77 cents from the fourth quarter of 2017. It was also good news for LUV stock by coming in above Wall Street’s earnings per share estimate of $1.07 for the period.

The Southwest Airlines earnings report for the fourth quarter of 2018 also has net income coming in at $654 million. This is a drop from the company’s net income of $1.75 billion reported in the same period of the year prior.

Operating income in the Southwest Airlines earnings report for the third quarter of the year was $820 million. The airline company’s operating income from the third quarter of the previous year was $741 million.

The most recent Southwest Airlines earnings report also sees the company bringing in revenue of $5.70 billion. This is an increase over its revenue of $5.26 billion reported during the same time last year. It was also a boon to LUV stock by beating out analysts’ revenue estimate of $5.67 billion for the quarter.

Southwest Airlines also has some data about what to expect in the first quarter of 2018 in its earnings report. This includes an increase of 4% to 5% for revenue per available seat mile. The company notes that it is expecting this increase despite the government shutdown and Easter shifting to the second quarter of 2019.

LUV stock was up 4% as of noon Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.