Southwest Airlines Co.LUV is a low-cost passenger carrier that provides scheduled air transportation in the United States. Earlier, it completed the acquisition of AirTran Holdings, which now operates as a wholly owned subsidiary.
Currently, Southwest Airlines has a Zacks Rank #5 (Strong Sell), but that could definitely change following the carrier's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings : Southwest Airlines' third-quarter earnings per share (on an adjusted basis) of 93 cents per share surpassed the Zacks Consensus Estimate of 88 cents per share.
Revenue : Southwest Airlines reported revenues of $5,139 million edged past the Zacks Consensus Estimate of $5,132 million. Revenues decreased 3.4% on a year over year basis.
Key Stats : In the reported quarter, revenue per available seat mile (RASM) stood at 13.57 cents, down 4.1% year over year. Moreover, the carrier anticipates RASM to decline in the band of 4% to 5% in the fourth quarter of 2016 compared to the same period in 2015.
SOUTHWEST AIR Price and EPS Surprise
Check back later for our full write up on this Southwest Airlines earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>