DALLAS (AP) _ Southwest Airlines Co. (LUV) on Tuesday reported a first-quarter loss of $94 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Dallas-based company said it had a loss of 18 cents. Losses, adjusted for non-recurring costs, came to 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 48 cents per share.
The airline posted revenue of $4.23 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $4.4 billion.
Southwest shares have fallen 46% since the beginning of the year, while the Standard & Poor’s 500 index has fallen 11%. The stock has decreased 45% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LUV at https://www.zacks.com/ap/LUV
The Associated Press