Southwest Airlines (LUV) Tops Q4 EPS by 6c
Southwest Airlines (NYSE: LUV) reported Q4 EPS of $0.14, $0.06 better than the analyst estimate of $0.08. Revenue for the quarter came in at $5.05 billion versus the consensus estimate of $5.03 billion.
Guidance and Outlook
The following tables present updated selected financial guidance for first quarter and full year 2022:
| 1Q 2022 Estimation | Previous estimation | |||||||||||||
| Operating revenue compared with 2019 (a) | Down 10% to 15% | (e) | ||||||||||||
| Load factor | 75% to 80% | (e) | ||||||||||||
| ASMs compared with 2019 | Down ~9% | Down ~6% | ||||||||||||
| Economic fuel costs per gallon4 | $2.25 to $2.35 | $2.05 to $2.15 | ||||||||||||
| Fuel hedging premium expense per gallon | $0.06 | (f) | ||||||||||||
| Fuel hedging cash settlement gains per gallon | $0.35 | $0.13 | ||||||||||||
| ASMs per gallon (fuel efficiency) | Nominally in line with 4Q21 | (e) | ||||||||||||
CASM-X (b) compared with 20195 | Up 20% to 24% | Up 10% to 14% | ||||||||||||
| Debt repayments (millions) | ~$60 | (f) | ||||||||||||
| Interest expense (millions) | ~$90 | ~$110 | ||||||||||||
| Aircraft (c) | 725 | 727 | ||||||||||||
2022 Estimation | Previous estimation | |||||||||||||
| ASMs compared with 2019 | Down ~4% | Down 3% to Up 2% | ||||||||||||
| Economic fuel costs per gallon4 | $2.25 to $2.35 | $2.05 to $2.15 | ||||||||||||
| Fuel hedging premium expense per gallon | $0.05 | (f) | ||||||||||||
| Fuel hedging cash settlement gains per gallon | $0.28 | $0.10 | ||||||||||||
CASM-X (b) compared with 20195 | Up 12% to 16% | Up 8% to 12% | ||||||||||||
| Debt repayments (millions) | ~$455 | (f) | ||||||||||||
| Interest expense (millions) | ~$360 | ~$440 | ||||||||||||
| Aircraft (c) | 814 | (f) | ||||||||||||
| Effective tax rate | 23% to 25% | (e) | ||||||||||||
| Capital spending (billions) (d) | ~$5.0 | (f) | ||||||||||||
For earnings history and earnings-related data on Southwest Airlines (LUV) click here.