MW Southwest Airlines swings to a profit as fuel costs drop
By Steve Gelsi
Carrier's overall expenses drop nearly 8%
Southwest Airlines said Thursday it swung to a fourth-quarter profit of 42 cents a share from a year-ago loss of 42 cents a share, as overall expenses fell on lower fuel costs.
Southwest's stock $(LUV)$ fell 2.7% in premarket trading.
Southwest's adjusted profit of 56 cents a share was well ahead of the FactSet consensus estimate of 46 cents a share.
Revenue rose 1.6% to $6.93 billion, a record., short of the analysts estimate of $6.96 billion.
Operating expenses fell 7.9% to $6.65 billion from$7.23 billion, as fuel costs dropped nearly 26% to $1.26 billion.
Ahead of Thursday's open, Southwest's stock had fallen 5.9% in 2024, while the S&P 500 has risen 2.7%.
(This is a developing news story with updates coming.)
-Steve Gelsi
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(END) Dow Jones Newswires
January 30, 2025 07:04 ET (12:04 GMT)
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