Edition:
United Kingdom

Southwest Airlines Reports Q1 Earnings Of $0.70/Share


Thursday, 25 Apr 2019 

April 25 (Reuters) - Southwest Airlines Co ::SOUTHWEST REPORTS FIRST QUARTER PROFIT.Q1 EARNINGS PER SHARE $0.70.Q1 EARNINGS PER SHARE EXCLUDING SPECIAL ITEMS $0.70.Q1 TOTAL OPERATING REVENUES $5.15 BILLION VERSUS $4.94 BILLION.Q1 EARNINGS PER SHARE VIEW $0.61, REVENUE VIEW $5.12 BILLION -- REFINITIV IBES DATA.Q1 REVENUE PASSENGER MILES 30.70 BILLION VERSUS 30.44 BILLION.Q1 AVAILABLE SEAT MILES 37.89 BILLION VERSUS 37.37 BILLION.Q1 LOAD FACTOR 81.0 PERCENT VERSUS 81.5 PERCENT.Q1 OPERATING REVENUE PER ASM INCREASED 2.7 PERCENT.Q1 TOTAL OPERATING EXPENSES INCREASED 7.3 PERCENT TO $4.6 BILLION.Q1 2019 ECONOMIC FUEL COSTS WERE $2.05 PER GALLON VERSUS $2.09 PER GALLON.EXCLUDING FUEL AND OIL EXPENSE AND SPECIAL ITEMS, Q1 OPERATING EXPENSES INCREASED 8.8 PERCENT.SAYS ESTIMATE IMPACT OF FLIGHT CANCELLATIONS (INCLuding MAX GROUNDING), U.S. GOVERNMENT SHUTDOWN, OTHER FACTORS, REDUCED Q1 NET INCOME BY ABOUT $150 MILLION.SAYS ENDED Q1 WITH 753 AIRCRAFT IN FLEET, REFLECTING Q1 DELIVERY OF 3 LEASED 737 MAX 8 AIRCRAFT.SAYS UNEXPECTED Q1 EVENTS THAT CONTRIBUTED TO NEGATIVE REVENUE IMPACT OF OVER $200 MILLION INCLUDED MAX GROUNDINGS, U.S. GOVERNMENT SHUTDOWN, AMONG OTHERS.SAYS EVENTS INCLUDING MAX GROUNDINGS, U.S. GOVERNMENT SHUTDOWN, OTHERS NEGATIVELY IMPACTED Q1 RASM WAS ABOUT 2 POINTS.SEES Q2 2019 RASM TO INCREASE IN 5.5 PERCENT TO 7.5 PERCENT RANGE.SEES Q2 2019 FUEL EFFICIENCY TO BE FLAT TO DOWN 1 PERCENT, AS RESULT OF THE BOEING'S MAX GROUNDINGS.