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Southwest Airlines 2Q Net Jumps 44% On Higher Traffic, AirTran Results

DOW JONES NEWSWIRES Southwest Airlines Co.'s (LUV) second-quarter earnings jumped 44% as results benefited from the acquisition of low-cost rival AirTran and higher traffic, although fuel costs jumped sharply higher. Many airlines reported weaker bottom-line results for the latest quarter due to a double-digit increase in fuel costs. Traffic has broadly improved, however, as air-travel demand continues to climb. Southwest has reported a streak of strong monthly traffic increases. The latest results included Southwest's purchase of AirTran, a deal that gives the carrier access to Atlanta--AirTran's major operating hub and the one major U.S. city Southwest didn't already serve. It also gives Southwest access to Mexican and Caribbean destinations. Southwest reported earnings of $161 million, or 21 cents a share, up from $112 million, or 15 cents a share, a year earlier. Excluding fuel hedging and other impacts, adjusted earnings slid to 15 cents from 29 cents. Revenue jumped 31% to $4.14 billion. Analysts surveyed by Thomson Reuters expected a per-share profit of 20 cents on revenue of $4.16 billion. Traffic jumped 28% as capacity increased 23%. Load factor, or the percentage of available seats filled, grew to 82.3% from 79.3%. Passenger revenue per available seat mile, an important measure of revenue for airlines, grew 4.1%. Per-gallon fuel costs were 38% higher than a year ago. Shares closed at $9.65 Wednesday and were inactive premarket. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Southwest Airlines (LUV)
DateTimeHeadline
02/16/201712:00:06Confidential Treatment Order (ct Order)
02/16/201710:34:00Southwest Airlines Named A Top 10 Most Admired Company By FORTUNE
02/15/201716:27:07Current Report Filing (8-k)
02/14/201716:58:08Statement of Ownership (sc 13g)
02/14/201716:35:32Statement of Ownership (sc 13g)
02/14/201711:58:00Amended Statement of Ownership (sc 13g/a)
02/14/201707:30:00Southwest Airlines to Present at the Stifel 2017 Transportation...
02/13/201716:04:00Cheers To This! Southwest Airlines Toasts Customers With Sparkling...
02/13/201708:27:32Amended Statement of Ownership (sc 13g/a)
02/13/201707:00:07Amended Statement of Ownership (sc 13g/a)
02/09/201714:15:00Donald Trump, Meeting With Airline CEOs, Targets Air-Traffic-Control...
02/09/201712:03:00Donald Trump, Meeting With Airline CEOs, Targets Air-Traffic...
02/09/201711:50:36Amended Statement of Ownership (sc 13g/a)
02/09/201711:27:00Donald Trump, Meeting With Airline CEOs, Targets Air-Traffic...
02/09/201710:30:00Southwest Airlines Employees Earn $586 Million In 2016 ProfitSharing
02/08/201716:38:00Southwest Airlines to Present at the Stifel 2017 Transportation...
02/08/201710:03:36Current Report Filing (8-k)
02/08/201706:30:00Southwest Airlines Reports January Traffic
02/07/201716:38:10Annual Report (10-k)
02/03/201717:29:01Statement of Changes in Beneficial Ownership (4)

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