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
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
January 30, 2025 07:04 ET (12:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.