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Southwest Airlines Q3 profit falls YOY

Southwest Airlines Co. said its third-quarter normalized net income was 93 cents per share, compared with the S&P Capital IQ consensus estimate of 88 cents per share.

EPS declined year over year from 94 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $578.8 million, a decline of 6.8% from $621.3 million in the prior-year period.

The normalized profit margin fell to 11.0% from 12.1% in the year-earlier period.

Total revenue came to $5.14 billion, compared with $5.15 billion in the year-earlier period, and total operating expenses increased from the prior-year period to $4.17 billion from $4.10 billion.

Reported net income fell 33.5% from the prior-year period to $389.0 million, or 62 cents per share, from $585.0 million, or 88 cents per share.