SOUTHWEST AIRLINES REPORTS RECORD THIRD QUARTER PROFIT
SOUTHWEST AIRLINES REPORTS RECORD THIRD QUARTER PROFIT
11-06-2013
04:40 PM
Frequent Flyer C
- Subscribe to RSS Feed
- Mark as New
- Mark as Read
- Bookmark
- Subscribe
- Printer Friendly Page
- Report Inappropriate Content
11-06-2013
04:40 PM
DALLAS, TEXAS - October 24, 2013 - Southwest Airlines Co. (NYSE:LUV) (the “Company”) today reported its third quarter 2013 results:
- Record third quarter net income, excluding special items*, of $241 million, or $.34 per diluted share, compared to third quarter 2012 net income, excluding special items, of $97 million, or $.13 per diluted share. This was in line with the First Call consensus estimate of $.34 per diluted share.
- Record third quarter net income of $259 million, or $.37 per diluted share, which included $18 million (net) of favorable special items, compared to net income of $16 million, or $.02 per diluted share, in third quarter 2012, which included $81 million (net) of unfavorable special items.
- Return on invested capital* (before taxes and excluding special items) for the 12 months ended September 30, 2013, of 11 percent, as compared to 7 percent for the 12 months ended September 30, 2012.
- Cash and short-term investments at September 30, 2013, of $3.3 billion.
- Cash flow from operations of $428 million, and capital expenditures of $268 million, resulting in $160 million in free cash flow* in third quarter 2013.
- The Company returned approximately $178 million to Shareholders during third quarter 2013 through the payment of $28 million in dividends and the repurchase of approximately $150 million in common stock under an accelerated share repurchase program executed in September 2013. Since August 2011, the Company has repurchased approximately $1.1 billion, or approximately 111 million shares, under its $1.5 billion share repurchase authorization.
- Ranked first Value Airline Brand of the Year in the 2013 Harris Poll EquiTrend Rankings
- Named one of the Best Economy Class Flight Experience in 10 Best Readers' Choice travel award contest sponsored by USA TODAY
- Ranked fifth on the International Council on Clean Transportation list of the most fuel efficient domestic passenger airlines
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.