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Southwest Airlines Q3 profit climbs 63.0% YOY

Southwest Airlines Co. said its third-quarter normalized net income amounted to 94 cents per share, compared with the S&P Capital IQ consensus estimate of 92 cents per share.

EPS increased 69.8% year over year from 55 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $621.3 million, an increase of 63.0% from $381.3 million in the year-earlier period.

The normalized profit margin rose to 12.1% from 7.9% in the year-earlier period.

Total revenue rose 7.2% on an annual basis to $5.15 billion from $4.80 billion, and total operating expenses decreased from the prior-year period to $4.10 billion from $4.15 billion.

Reported net income grew 77.3% from the prior-year period to $585.0 million, or 88 cents per share, from $330.0 million, or 48 cents per share.