Southwest Airlines returns to profitability

southwest airlines returns to profitability

Sumary of Southwest Airlines returns to profitability:

  • Southwest Airlines Co. LUV, +3.31% said Thursday it had net income of $348 million, or 57 cents a share, in the second quarter, after a loss of $915 million, or $1.63 a share, in the year-earlier period, when travel stalled during the global pandemic.
  • Excluding that offset, the company had an adjusted loss of 35 cents a share, wider than the 23 cents loss consensus estimate of FactSet analysts.
  • Revenue rose to $4.008 billion from $1.008 billion, topping the $3.939 billion FactSet consensus.
  • “Second quarter 2021 marked an important milestone in the pandemic recovery as leisure travel demand surged,” Chief Executive Gary C.
  • The rapid ramp-up in travel demand has proved a challenge and the company is now focused on bring back workers and improving operations.

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