===Southwest Air (LUV) reported earnings on Thur 25 Jan 24 (b/o)

 

Southwest Air beats by $0.25, beats on revs 

• Reports Q4 (Dec) earnings of $0.37 per share, excluding non-recurring items, $0.25 better than the FactSet Consensus of $0.12; revenues rose 10.5% year/year to $6.82 bln vs the $6.75 bln FactSet Consensus.
• Outlook
  • Q1 RASM year-over-year: Up 2.5% to 4.5%
    • ASMs year-over-year: Up ~10%
  • FY24 ASMs (year-over-year: Up ~6%

=Southwest Air (LUV) reported earnings on Thur 24 Jan 2019 (b/o)

Southwest Air beats by $0.09, reports revs in-line -- expects strong Q1 financial performance

• Reports Q4 (Dec) earnings of $1.17 per share, excluding non-recurring items, $0.09 better than the S&P Capital IQ Consensus of $1.08; revenues rose 8.5% year/year to $5.7 bln vs the $5.68 bln S&P Capital IQ Consensus.
  • Fourth quarter 2018 operating revenue per ASM (RASM, or unit revenues) increased 1.8 percent, year-over-year, driven largely by a passenger revenue yield increase of 3.7 percent, year-over-year, offset by a load factor decline of 1.5 points, year-over-year, to 83.5 percent. The Company experienced stable passenger demand and strength in passenger yields, including close-in yields, throughout fourth quarter 2018.
• Outlook:
  • Based on current revenue trends, our cost outlook, and energy futures, we are currently expecting a strong first quarter 2019 financial performance. We are well-positioned to generate stellar annual after-tax returns on capital in 2019, barring any unforeseen events.
  • We continue to expect 2019 available seat miles (ASMs, or capacity) to increase no more than five percent, year-over-year. As we continue to optimize our flight schedules, we announce today our decision to cease operations at Benito Jurez Mexico City International Airport on March 30, 2019, and reallocate these resources to better opportunities within our existing route network.
  • Passenger demand is healthy across the booking curve, and current yield trends, including close-in bookings and corporate travel, remain strong. Thus far in January, the negative revenue impact from the ongoing government shutdown is estimated to be $10 million to $15 million. Based on these trends, and assuming no further significant impact on bookings from the ongoing government shutdown, the Company currently estimates first quarter 2019 RASM to increase in the four to five percent range, compared with first quarter 2018. The Company's outlook for first quarter 2019 RASM includes an estimated 1.5 point year-over-year benefit from its revenue management enhancements implemented in 2018, as well as an estimated 1.5 point year-over-year tailwind due to several items: its first quarter 2018 sub-optimal schedule from the accelerated retirement of its Boeing 737-300 (Classic) fleet; the prior year competitive fare environment; and the March 2018 Spring Break holiday shift impact. These expected year-over-year benefits to first quarter 2019 RASM are offset slightly by an estimated $40 million negative revenue impact in first quarter 2019 due to the timing shift of Easter to second quarter 2019.
  • Based on current cost trends, the Company estimates first quarter 2019 unit costs, excluding fuel and oil expense and profitsharing expense, to increase approximately six percent, compared with first quarter 2018's 8.65 cents, which excludes fuel and oil expense, profitsharing expense, and special items. The year-over-year increase is driven largely by the Company's underutilization of its fleet in first half 2019 due to the delay in its impending service to Hawaii, and the resulting one-time start-up costs; higher airport costs; higher depreciation and ownership costs; and the timing of maintenance events and technology investments.

Earnings this week : Jan 21 - 25, 19 (wk 4)

Earnings confirmed to report this week:

Monday (Jan 21)    

• Market closed for Martin Luther King Jr. Day

Tuesday (Jan 22)

• Morning: ATI FITB GATX HAL HMST JNJ LOGI EDU PETS PLD SWK TRV
• Afternoon: AMTD CNMD COF FMBI HOPE IBKR IBM LRN LTXB NAVI RNST SFNC TBK UCBI WTFC ZION

Wednesday (Jan 23)

• Morning:  ABT APH ASML BKU BPOP CBU CMCSA HZO KMB NTRS PG PGR RES ROL SYF TDY TEL UTX WAT
• Afternoon:  ADTN AZPN BGG BXS CATY CCI CMRE CNS CP CTXS CVBF F FFBC FFIV HXL LRCX  LVS NXGN PTC RJF SLG SLM STL TCBI TER TRMK TXN UMPQ URI VAR XLNX

Thursday (Jan 24)

• Morning:  AAL AEP AIT AVX BANC BMY COLB DLX EWBC FCX GWW HBAN ISCA JBLU LUV MKC MMYT ORI RCI STM TAL TXT UNP VIVO WBS
• Afternoon: ALK ASB AVT CUBI DFS  ETFC FHB FII HTH INTC ISRG NBHC NSC OSIS RMD SBCF SBUX SIVB WAL WDC

Friday (Jan 25)

• Morning: ABBV ABCB APD CL DHI ERIC HRC IBKC LEA MOG.A NEE

=Southwest Air (LUV) reported earnings on Wed 26 Oct 2016 (b/o)

Southwest Air beats by $0.05, reports revs in-line  :

• Reports Q3 (Sep) earnings of $0.93 per share, $0.05 better than the Capital IQ Consensus of $0.88; revenues fell 3.4% year/year to $5.14 bln vs the $5.17 bln Capital IQ Consensus.
• As compared with third quarter 2015, total operating revenues declined 3.4 percent on a 4.2 percent increase in available seat miles.
• Outlook: While current trends suggest a stabilization of close-in fares, the overall revenue yield environment remains soft. Based on these trends, the shift in holiday timing, and bookings thus far, the Company expects fourth quarter 2016 RASM to decline in the 4 to 5 percent range, compared with fourth quarter 2015 RASM.
• "We are excited about the fourth quarter 2016 scheduled launch of new service to Cuba from Florida4, as well as Mexico service from Los Angeles International Airport. Also, we are on track for completion of a new five-gate international terminal in Ft. Lauderdale with new international routes planned for mid-2017. 
• "We also have exciting growth opportunities beyond those planned for next year. We will continue to manage our growth prudently in light of the revenue environment and increasing fuel prices. We plan to slow our 2017 available seat mile growth rate to less than 4.0 percent, year-over-year, with approximately 2.0 points of the increase relating to domestic growth."

=Southwest Air (LUV) reported earnings on Thur 21 Jul 2016 (b/o)

Southwest Air misses by $0.02, reports revs in-line :

• Reports Q2 (Jun) earnings of $1.19 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus of $1.21; revenues rose 5.3% year/year to $5.38 bln vs the $5.4 bln Capital IQ Consensus.
• Based on current bookings and yields, the Company expects third quarter 2016 RASM to decline in the three to four percent range, compared with third quarter 2015 RASM (excluding the one-time special revenue adjustment of $172 million recorded in third quarter 2015 as a result of the Chase amendment and a resulting required change in accounting methodology).
• Based on current trends and excluding fuel and oil expense, special items, and profitsharing expense, the Company expects its third quarter 2016 and annual 2016 unit costs to increase approximately two percent, and approximately one percent, respectively, as compared with the same year-ago periods, largely due to additional depreciation expense associated with the accelerated retirement of the Company's Classic fleet (Boeing 737-300/-500 aircraft) to no later than third quarter 2017.