Southwest Airlines Co. (NYSE: LUV) on Thursday announced financial results for the fourth quarter of 2022, reporting a net loss and a double-digit increase in revenues.
Total operating revenue was $6.17 billion, up 22% compared to the fourth quarter of 2021. The management expects first-quarter 2023 revenues to increase 20-24% year-over-year.
The company reported a net loss of $220 million or $0.37 per share for the quarter, compared to a profit of $68 million or $0.11 per share in the prior-year period. On an adjusted basis, the net loss was $0.38 per share.
