Southwest’s 4Q Profit Rises On Lower Fuel Spending
DALLAS (AP) – Southwest Airlines is making more money thanks to a lower fuel bill and higher average fares.
The company said Thursday that fourth-quarter net income was $212 million, up from $78 million a year earlier.
The airline says that excluding special items it earned 33 cents per share. Analysts were expecting 29 cents per share, according to a FactSet survey. Revenue is up 6.1 percent to $4.43 billion, above analysts’ forecast of $4.39 billion.
The increase in net income can be credited to a 9.2 percent drop in fuel spending, a savings of $138 million. Labor costs are up 7.3 percent, however.
The average fare on Southwest is $156.05 each way, up $8 or 5.4 percent from a year earlier.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- The Bomb Factory Re-Opens To Long Lines, Positive Reviews
- DISD Trustees To Vote On $148 Million Plan To Fix Nine Schools
- Dallas Pizza Shop Owner Shames TV Thief On Facebook
- I-35 Bridge Height Questions After North Texan Killed In Accident
- Body Of Student Found In Marshy Area Of South Padre Island
- Man Fights To Take Pregnant Wife Off Life Support
- Cowboys’ Romo Update: Complication In Back Surgery
- Flu Cases Spike In Texas, 13 Dead In Houston Area
- 70-Year-Old Brutally Attacked Outside Restaurant
- Owner Reunites With Dog 4 Months After ‘Dognapping’
- PHOTOS: Your Pet Pictures