Southwest Airlines

Southwest Airlines Co.  (NYSE:LUV) operates one of the world’s most admired and awarded airlines, offering its one-of-a-kind value and Hospitality at 121 airports across 11 countries. Southwest took flight in 1971 to democratize the sky through friendly, reliable, and low-cost air travel and now carries more air travelers flying nonstop within the United States than any other airline(1) . Based in Dallas and famous for an Employee-first corporate Culture, Southwest maintains an unprecedented record of no involuntary furloughs or layoffs in its history. By empowering its more than 71,000(2) People to deliver unparalleled Hospitality, the maverick airline cherishes a passionate loyalty among more than 126 million Customers carried in 2022. That formula for success brought industry-leading prosperity and 47 consecutive years(3) of profitability for Southwest Shareholders (NYSE: LUV). Southwest leverages a unique legacy and mission to serve communities around the world including harnessing the power of its People and Purpose to put communities at the Heart of its success. Learn more by visiting Southwest.com/citizenship. As the airline with Heart, Southwest has set a goal to work toward achieving net zero carbon emissions by 2050. Southwest has also set near-term targets and a four-pillar strategy to achieve its environmental goals.

Southwest Airlines Says Travel Demand Remains Healthy as It Lifts Its Q4 Available Seat Miles View

/ / Consumer Discretionary /

Southwest Airlines Co. (LUV) on Wednesday said it now expects fourth-quarter available seat miles to increase by about 21%, compared to its earlier view of no change. Its outlook for fourth-quarter revenue seat miles improved to a drop of up to 10% from its earlier view of down as much as 11%, as “travel demand and yields continue to be healthy.” The carrier said leisure demand “remains strong” on the heels of Thanksgiving holiday revenue. “Close-in bookings, including managed business bookings, have performed at the better end of expectations in November and December-to-date,” Southwest said. Southwest said it now expects fourth-quarter unit revenue to improve to the better end of its previous guidance range, and it continues to expect record fourth-quarter operating revenues and record fourth-quarter passengers. On the minus side, economic fuel costs per gallon for the fourth quarter are expected to be $3 to $3.10, up from its

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CFRA Maintains Hold Opinion On Shares Of Southwest Airlines Co.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We cut our 12-month target to $24 from $36, 12.2x our ’24 EPS view (cut to $1.97 from $3.24; ’23’s cut to $1.24 from $2.16), slightly above LUV’s ’18-’19 P/E average of 12x. Q3 EPS of $0.38 vs. $0.50, missed consensus by $0.01. Revenues grew 5% Y/Y on more than 12% capacity due to weaker load factors (~81% vs. 85% in Q3 22). LUV revised its ’23 outlook, with expected fuel rising by 5.5% (midpoint of $2.90/g vs. the prior midpoint of $2.75/g) due to the recent uptick in energy prices. The EIA estimates WTI pricing to average $80/b in ’23 (vs. $95/b in ’22) and $91/b in ’24. LUV has hedged 50% of its expected ’23 fuel consumption at a midpoint of $2.90 and 55% for

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Southwest Airlines Q3 Non-GAAP Net Income Falls, Operating Revenue Rises

/ / Consumer Discretionary /

Southwest Airlines (LUV) reported Q3 non-GAAP net income Thursday of $0.38 per diluted share, down from $0.50 a year earlier. Analysts polled by Capital IQ expected $0.39. Operating revenue for the quarter ended Sept. 30 was $6.53 billion, up from $6.22 billion a year earlier. Analysts surveyed by Capital IQ expected $6.57 billion.

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