Southwest Airlines Earnings: Another Stinker
For much of its 50-year history, Southwest Airlines (NYSE: LUV) has been one of the most profitable airlines in the world. Indeed, from 1973 to 2019, the company put together a string of 47 consecutive annual profits: an amazing feat in such a volatile business. Most of its main competitors went bankrupt over that period (some more than once).
However, Southwest Airlines has posted subpar results since the COVID-19 pandemic upended the airline industry last year. The carrier continued that trend this week, reporting a loss for the third quarter and projecting an even bigger loss for the current quarter.
On Thursday, Southwest reported an adjusted net loss of $0.23 per share on $4.68 billion of revenue for the third quarter. It beat the analyst consensus on both measures. (Analysts had expected an adjusted loss of $0.27 per share on $4.58 billion of revenue.)
Source Fool.com
