Why Southwest Airlines Shares Are Falling Today
Portfolio Pulse from Akanksha Bakshi
Southwest Airlines Co (NYSE:LUV) reported Q2 FY23 operating revenue growth of 4.6% YoY to $7.04 billion, beating consensus estimates. However, adjusted EPS was $1.09, missing the consensus of $1.10. The company's Q2 RASM decreased 8.3% YoY, and fuel costs were down 22.6% YoY. The company had a net cash position of $4.2 billion and adjusted debt to invested capital of 46% as of June 30, 2023. The company's shares are trading lower by 8.4% at $33.24.
July 27, 2023 | 2:06 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Southwest Airlines reported Q2 FY23 earnings with revenue beating estimates but EPS missing. Shares are down 8.4%.
Southwest Airlines reported a mixed Q2 FY23 earnings with revenue beating estimates but EPS missing. This mixed result, along with the company's guidance, likely contributed to the stock's decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100