Southwest Airlines (NYSE:LUV) earnings for the air travel company’s third quarter of 2019 have LUV stock gaining altitude on Thursday. This is thanks to EPS of $1.23 and revenue of $5.64 billion. For comparison, Wall Street was expecting earnings per share of $1.08 on revenue of $5.64 billion for the period.
Let’s dive into the finer details of the most recent Southwest Airlines earnings report.
- Per-share earnings are up 13.89% from the $1.08 reported in the third quarter of 2018.
- Revenue comes in 1.08% higher than the $5.58 billion from the same time last year.
- Operating income of $819.00 million is a 2.63% increase YoY from $798.00 million.
- The Southwest Airlines earnings also see net income coming in at $659.00 million.
- That’s 7.16% better than its net income of $615.00 million from the same period of the year prior.
Southwest Airlines Chairman and CEO Gary Kelly provides an update on the Boeing (NYSE:BA) 737 Max ban in the earnings report.
“Boeing stated yesterday they are targeting regulatory approval of MAX return to service in fourth quarter 2019. Upon a rescission of the Federal Aviation Administration (FAA) order to ground the MAX, we continue to estimate it will take us one to two months to comply with applicable FAA directives, including all necessary Pilot training. As such, the MAX has been removed from our flight schedule through February 8, 2020. The FAA will determine the timing of MAX return to service, and we offer no assurances that current estimations and timelines are correct.”
LUV stock was up 5.60% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.