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Jan. 23, 2020, 7:26 a.m. EST

Southwest Airlines' stock falls after profit miss, while revenue rises slightly above expectations

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By Tomi Kilgore

Shares of Southwest Airlines Co. /zigman2/quotes/201071949/composite LUV -0.85% fell 0.2% in premarket trading Thursday after the air carrier reported a fourth-quarter profit and load factor that missed expectations, while revenue rose a little above forecasts. Net income fell to $514 million, or 98 cents a share, from $654 million, or $1.17 a share, in the year-ago period, below the FactSet consensus for net earnings per share was $1.12. Chief Executive Gary Kelly said operational performance in 2019 was reduced by an estimated $828 million due to the grounding of Boeing Co.'s /zigman2/quotes/208579720/composite BA -0.17% 737 MAX planes. Revenue rose 0.4% to $5.73 billion, above the FactSet consensus of $5.72 billion. Load factor declined to 83.1% from 83.5%, while the FactSet consensus was for rise to 83.9%. Costs for available seat mile (CASM) rose 4.6%, and is expected to increase 6.0% to 8.0% for the first quarter. The stock rose 0.5% has over the past three months through Wednesday, while the Dow Jones Transportation Average /zigman2/quotes/210598063/realtime DJT +0.71% has gained 2.5% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.40% has advanced 8.8%.

/zigman2/quotes/201071949/composite
US : U.S.: NYSE
$ 57.11
-0.49 -0.85%
Volume: 2.13M
Feb. 19, 2020 4:10p
P/E Ratio
13.35
Dividend Yield
1.26%
Market Cap
$29.80 billion
Rev. per Employee
$373,554
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/zigman2/quotes/208579720/composite
US : U.S.: NYSE
$ 338.30
-0.58 -0.17%
Volume: 4.93M
Feb. 19, 2020 4:10p
P/E Ratio
N/A
Dividend Yield
2.43%
Market Cap
$190.84 billion
Rev. per Employee
$660,961
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/zigman2/quotes/210598063/realtime
US : Dow Jones Indices
10,943.24
+77.66 +0.71%
Volume: 41.22M
Feb. 19, 2020 5:05p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,348.03
+115.84 +0.40%
Volume: 242.65M
Feb. 19, 2020 5:05p
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