Southwest Airlines Beats Q3 Street Expectations, Secures Agreement With Elliott Management-Driven Board Overhaul

Southwest Airlines Co (NYSE:LUV) reported a third-quarter 2024 operating revenue increase of 5.3% year-over-year to $6.870 billion, beating the consensus of $6.735 billion.

Adjusted EPS was $0.11, down from $0.31 last year, beating the consensus $0.00.

The airline's adjusted operating income fell to $32 million from $224 million a year ago; operating expenses increased by 14.3% YoY to $5.384 billion.

Also Read: Southwest Airlines Q3 Earnings Preview: Can Strategic Changes Propel Growth?

LUV's unit revenue increased 2.8% YoY, Revenue passenger miles increased 3.1% Y/Y, Available seat miles were up 2.4% Y/Y, and load factor was 81.2% compared to 80.7% last year.

CASM-X increased by 11.6% YoY, meeting the company's ...