Southwest Airlines Co. (NYSE: LUV) reported third quarter 2023 earnings results today.
Operating revenues increased 4.9% year-over-year to $6.5 billion.
Net income declined 30% to $193 million, or $0.31 per share, versus last year. Adjusted EPS was $0.38.
For the fourth quarter of 2023, the company expects unit revenues to be down 9-11% and capacity to be up around 21% year-over-year. CASM-X is expected to be down 16-19% YoY. Fuel costs are estimated to range between $2.90-3.00 per gallon.