Southwest Airlines Analysts Slash Their Forecasts After Q2 Results
Portfolio Pulse from Lisa Levin
Southwest Airlines reported Q2 FY23 operating revenue growth of 4.6% YoY to $7.04 billion, beating consensus of $6.98 billion. However, adjusted EPS was $1.09, missing the consensus of $1.10. Following the results, several analysts including Deutsche Bank, Raymond James, Barclays, and B of A Securities downgraded the stock and lowered their price targets. Southwest shares fell 8.9% to close at $33.02 on Thursday.
July 28, 2023 | 12:23 pm
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Southwest Airlines' Q2 FY23 results led to several analysts downgrading the stock and lowering their price targets. The stock fell 8.9% to close at $33.02 on Thursday.
The company's Q2 FY23 results missed EPS consensus, leading to a negative reaction from the market and analysts. This resulted in a significant drop in the stock price, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100