For the full year, Southwest reported EPS of $0.56 on revenues of $17.09 billion, compared with EPS of $0.23 on revenues of $15.66 billion a year ago. The consensus estimates called for $0.53 EPS on $17.12 billion in revenues.
The company’s CEO said:
Our [annual] profits … grew 26 percent as compared to 2011 and represented our 40th consecutive year of profitability. … These solid earnings were achieved despite significant efforts and costs related to critical strategic initiatives. I expect these initiatives to produce substantial returns over the next several years.
Southwest provided little guidance for the coming quarter and year. The company did say that “based on current bookings and revenue trends, [Southwest] expects a solid year-over-year increase in its first quarter 2013 unit revenues.” The consensus estimate calls for EPS of $0.07 on revenues of $4.11 billion. In the first quarter of 2012, Southwest posted a net loss of $0.02 per share on revenues of $3.99 billion.
Southwest’s shares are up about 2% in premarket trading this morning, at $11.59 in a 52-week range is $7.76 to $11.60. Thomson Reuters had a consensus analyst price target of around $12.70 before today’s report.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.