Southwest Airlines (LUV) Misses Q1 EPS by 2c, Revenue Beats
Southwest Airlines (NYSE: LUV) reported Q1 EPS of ($0.32), $0.02 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $4.7 billion versus the consensus estimate of $4.67 billion.
Guidance and Outlook:
The following tables introduce or update selected financial guidance for second quarter 2022 and full year 2022, as applicable:
| 2Q 2022 Estimation | ||||||||
| Operating revenue compared with 2019 (a) | Up 8% to 12% | |||||||
| Load factor | ~85% | |||||||
| ASMs compared with 2019 | Down ~7% | |||||||
| Economic fuel costs per gallon1,4 | $3.05 to $3.15 | |||||||
| Fuel hedging premium expense per gallon | $0.05 | |||||||
| Fuel hedging cash settlement gains per gallon | $0.61 | |||||||
| ASMs per gallon (fuel efficiency) | 76 to 78 | |||||||
CASM-X (b) compared with 20195 | Up 14% to 18% | |||||||
| Debt repayments (millions) | ~$20 | |||||||
| Interest expense (millions) | ~$90 | |||||||
2022 Estimation | Previous estimation | |||||||||||||
| ASMs compared with 2019 (c) | Down ~4% | No change | ||||||||||||
| Economic fuel costs per gallon1,4 | $2.75 to $2.85 | $2.25 to $2.35 | ||||||||||||
| Fuel hedging premium expense per gallon | $0.04 | $0.05 | ||||||||||||
| Fuel hedging cash settlement gains per gallon | $0.54 | $0.28 | ||||||||||||
CASM-X (b) compared with 20195 | Up 12% to 16% | No change | ||||||||||||
| Debt repayments (millions) | ~$650 | ~$455 | ||||||||||||
| Interest expense (millions) | ~$360 | No change | ||||||||||||
| Aircraft (d) | 814 | No change | ||||||||||||
| Effective tax rate (e) | 24% to 26% | 23% to 25% | ||||||||||||
| Capital spending (billions) (f) | ~$5.0 | No change | ||||||||||||
For earnings history and earnings-related data on Southwest Airlines (LUV) click here.