Southwest Profits More Than Expected?
Southwest Airlines Co. said Monday its second-quarter profits will exceed analysts’ expectations of 32 cents per share, but officials declined to name a figure.
The company earned 40 cents per share in the second quarter of 1994.
Chairman and chief executive Herbert Kelleher said the airline’s June traffic results were “much better than anticipated.” He added that the average amount a passenger pays to fly one mile was stronger than expected and higher than a year ago.
“I am delighted to report our earnings recovery from fourth quarter 1994 and first quarter 1995 levels is well under way,” Kelleher said Monday.
Southwest Airlines stock rose 87.5 cents to $26.50 on the New York Stock Exchange Monday.
Southwest expects to release its second-quarter results July 24. During the second quarter of 1994, the airline earned $58.52 million on revenue of $661.06 billion.