Southwest Airlines LUV reported second-quarter earnings of $1.37 per share, which beat the analyst consensus estimate of $1.34 by 2.24%. This is a 8.73% increase over earnings of $1.26 per share from the same period last year.
The company reported quarterly sales of $5.909 billion, which missed the analyst consensus estimate of $5.93 billion by 0.35%. This is a 2.91% increase over sales of $5.742 billion the same period last year.
"We are pleased to report second quarter 2019 net income of $741 million,” said Gary Kelly, CEO of Southwest Airlines. “Our financial and operational performance was remarkably strong considering the impact of the grounding of the Boeing 737 MAX 8 aircraft (MAX), which reduced operating income an estimated $175 million in second quarter, alone.”
Southwest Airlines shares were trading down 5% at $51.98 in Thursday’s pre-market session. The stock has a 52-week high of $64.02 and a 52-week low of $44.28.
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