Southwest Airlines Beats Q3 Street Expectations, Secures Agreement With Elliott Management-Driven Board Overhaul
Portfolio Pulse from Akanksha Bakshi
Southwest Airlines reported a Q3 2024 revenue increase of 5.3% to $6.870 billion, surpassing expectations. Adjusted EPS was $0.11, beating the consensus of $0.00. The company announced a board overhaul with six new directors as part of an agreement with Elliott Management. Despite positive revenue, shares fell 1.33% premarket.
October 24, 2024 | 12:53 pm
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Southwest Airlines exceeded Q3 revenue expectations and announced a board overhaul with Elliott Management. Despite positive results, shares fell 1.33% premarket.
Southwest Airlines reported better-than-expected Q3 revenue and EPS, which is typically positive for stock prices. However, the stock traded lower premarket, possibly due to concerns over increased operating expenses and the impact of board changes. The board overhaul, while strategic, may introduce uncertainty in the short term.
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