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Southwest Airlines Q2 profit climbs 42.5% YOY

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Southwest Airlines Q2 profit climbs 42.5% YOY

Southwest Airlines Co. said its normalized net income for the second quarter came to $1.03 per share, compared with the S&P Capital IQ consensus estimate of $1.02 per share.

EPS rose 47.8% year over year from 70 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $693.1 million, a gain of 42.5% from $486.3 million in the prior-year period.

The normalized profit margin rose to 13.6% from 9.7% in the year-earlier period.

Total revenue climbed on an annual basis to $5.11 billion from $5.01 billion, and total operating expenses declined 5.5% on an annual basis to $3.96 billion from $4.19 billion.

Reported net income rose 30.7% on an annual basis to $609.0 million, or 90 cents per share, from $466.0 million, or 67 cents per share.