Southwest Airlines Misses Street 1Q Forecasts
DALLAS (AP) — Southwest Airlines Co. is reporting first-quarter earnings of $351 million.
The Dallas company said Thursday that it had profit of 57 cents per share. Earnings, adjusted for non-recurring costs, came to 61 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The airline posted revenue of $4.88 billion in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $4.89 billion.
Southwest shares slumped 5 percent before the opening bell.