JPMorgan Upgrades Southwest (LUV) to Overweight
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Southwest Airlines (LUV) Tops Q3 EPS by 5c
October 26, 2016 6:34 AM EDTSouthwest Airlines (NYSE: LUV) reported Q3 EPS of $0.93, $0.05 better than the analyst estimate of $0.88. Revenue for the quarter came in at $5.1 billion versus the consensus estimate of $5.17 billion.
Customer demand remained strong during third quarter, with lower year-over-year fares resulting in a 4.9 percent decline in passenger revenue yield, as compared with third quarter 2015. Operating unit revenues (RASM) declined 4.1 percent, as compared with third quarter 2015 excluding the one-time special revenue adjustment of $172 million. While current trends suggest a stabilization of close-in fares, the overall revenue yield environment remains soft. Based on... More
