April 27, 2017 / 11:07 AM / 7 months ago

BRIEF-Southwest Q1 earnings per share $0.57

April 27 (Reuters) - Southwest Airlines Co:

* Southwest reports first quarter profit

* Q1 earnings per share $0.61 excluding items

* Q1 earnings per share $0.57

* Q1 revenue rose 1.2 percent to $4.9 billion

* Southwest Airlines Co says qtrly revenue passenger miles of 29.34 billion versus 28.41 billion last year

* Southwest Airlines co says qtrly available seat miles of 36.70 billion versus 35.27 billion last year

* Qtrly load factor 79.9% versus 80.5%

* Southwest airlines co- based on current bookings and improved yield trends, company expects positive year-over-year RASM in Q2 2017

* Southwest Airlines Co- expect Q2 2017 RASM to increase in one to two percent range, year-over-year

* Southwest Airlines co says Q2 2017 economic fuel costs are estimated to be in $1.95 to $2.00 per gallon range

* Southwest airlines -costs associated with operational initiatives and upcoming implementation of new reservation system also contributed to q1 cost pressures

* Southwest Airlines - cost inflation expected to abate in second half 2017 to end this year with q4 unit costs in line with year-ago levels, excluding items, and profit sharing

* Southwest Airlines - based on current cost trends, estimates Q2 unit costs, excluding fuel & oil expense, other items will increase about 6 % y-o-y

* Southwest airlines -annual 2017 unit costs, excluding fuel and oil, special items, and profit sharing, estimated to increase about 3 percent, year-over-year

* Southwest airlines co says based on current bookings and improved yield trends, company expects positive year-over-year RASM in Q2 2017

* Q1 earnings per share view $0.63, revenue view $4.92 billion -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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