Southwest Sees Increased Q3 Profit from Last Years Loss (LUV)

By Staff,

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Airline company, Southwest Airlines Co.( LUV ) reported improved profit for the third quarter on Thursday.

The Dallas, TX based company reported a Q3 net income of $16 million, or 2 cents a share, compared with a loss of $140 million, or 18 cents a share from last year's third quarter. Excluding special items of $81 million, adjusted profit was 13 cents a share. On average, analysts had expected 12 cents a share.

Reported revenue was $4.3 billion, slightly lower than analysts expectations.

Although the company maintained its consumer demand, the price of the average fare declined slightly from last year from $143.03 to $142.86, which had a direct effect on the company's revenue.

Southwest Airlines shares were up 5 cents, or 0.56% Thursday morning.

The Bottom Line
Shares of Southwest Airlines ( LUV ) have a .45% dividend yield, based on last night's closing stock price of $8.95. The stock has technical support in the $7.50 price area. If the shares can firm up, we see overhead resistance around the $10 price level.

Southwest Airlines Co.( LUV ) is not recommended at this time, holding a DARS™ Rating of 2.9 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: LUV

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