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Southwest Airlines Q4 profit falls YOY

Southwest Airlines Co. said its fourth-quarter normalized net income amounted to 74 cents per share, compared with the S&P Capital IQ consensus estimate of 70 cents per share.

EPS decreased 16.8% year over year from 89 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $459.4 million, a decrease of 21.2% from $583.1 million in the prior-year period.

The normalized profit margin dropped to 9.1% from 11.7% in the year-earlier period.

Total revenue climbed on an annual basis to $5.08 billion from $4.98 billion, and total operating expenses rose 7.6% year over year to $4.29 billion from $3.98 billion.

Reported net income fell year over year to $522.0 million, or 84 cents per share, from $537.0 million, or 82 cents per share.

For the year, the company's normalized net income totaled $3.70 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $3.70.

EPS rose from $3.51 in the prior year.

Normalized net income was $2.34 billion, compared with $2.35 billion in the prior year.

Full-year total revenue increased on an annual basis to $20.43 billion from $19.65 billion, and total operating expenses rose on an annual basis to $16.47 billion from $15.69 billion.

The company said reported net income rose year over year to $2.25 billion, or $3.55 per share, in the full year, from $2.19 billion, or $3.27 per share.