HomeDiscoverSouthwest Airways (LUV) earnings Q1 2023

Southwest Airways (LUV) earnings Q1 2023

A fowl flies by within the foreground as a Southwest Airways jet is available in for a touchdown at McCarran Worldwide Airport on Could 25, 2020 in Las Vegas, Nevada.

Ethan Miller | Getty Photographs

Southwest Airways misplaced $159 million within the first quarter because the monetary impression of its vacation meltdown stretched effectively into 2023.

The Dallas-based provider mentioned it expects income headwinds into the second quarter however forecast a revenue for the three months ending June 30.

Southwest shares had been down greater than 3% in premarket buying and selling.

This is how Southwest carried out within the first quarter, in contrast with Wall Road expectations in accordance with Refinitiv consensus estimates:

  • Adjusted loss per share:  27 cents vs an anticipated lack of 23 cents.
  • Whole income: $5.71 billion vs an anticipated $5.73 billion.

The provider had canceled greater than 16,000 flights in the course of the vacation chaos when staffing software program could not maintain tempo with scheduling modifications throughout coast-to-coast storms.

That is breaking information. Verify again for updates.

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