Southwest Airlines Misses Q2 Expectations, Sees Signs Of Industry Turnaround

Benzinga

Southwest Airlines reported second-quarter adjusted earnings of 43 cents per share, missing the Street estimate of 51 cents, according to Benzinga. Revenue fell short of the expected $ 7.3 billion, coming in at $ 7.24 billion. The company authorized a new $2 billion share repurchase program. Southwest said industry demand is showing early signs of recovery following a weak second quarter and expects a more favorable environment in the second half of the year. It forecast third-quarter revenue per available seat mile between -2% and +2%, and fuel costs between $2.40 and $2.50 per gallon. Shares were down 0.24% in extended trading on Wednesday.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Southwest Airlines reported second quarter adjusted earnings of $0.43 per share,

00:06missing the street estimate of $0.51, according to Benzinga.

00:10Revenue fell short at $7.24 billion versus the expected $7.3 billion.

00:14The company authorized a new $2 billion share repurchase program.

00:17Southwest said industry demand is showing early signs of recovery

00:20following a weak second quarter and expects a more favorable environment

00:23in the second half of the year.

00:24It forecasts third quarter revenue per available seat mile between

00:27minus 2% and plus 2% and fuel costs between $2.40 and $2.50 per gallon.

00:35Shares were down 0.24% in extended trading on Wednesday.

00:38For all things money, visit Benzinga.com.

Category

Transcript

Comments

Recommended