Southwest Airlines Co. (NYSE: LUV) reported first quarter 2024 earnings results today.
Total operating revenues increased 10.9% year-over-year to $6.3 billion.
Net loss was $231 million, or $0.39 per share, compared to $159 million, or $0.27 per share, last year. Adjusted loss was $0.36 per share.
The top and bottom line numbers both missed expectations, sending the stock plunging over 8% in premarket hours on Thursday.
For the second quarter of 2024, the company expects unit revenue to be down 1.5-3.5% and capacity to be up 8-9% YoY.