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Southwest Airlines Reports Q3 Profit of $67 Million, $0.15 per Share, Announces $250 Million Buyback

Oct 24, 2024, 11:13 AM

Southwest Airlines reported a third-quarter profit of $67 million, or $0.11 per diluted share, surpassing Wall Street's expectations. The airline's net income, excluding special items, was $89 million, or $0.15 per diluted share, with record operating revenues of $6.9 billion. Despite the profit, the company noted a two-thirds decline in profit compared to the previous year due to rising costs. Southwest also announced a $250 million accelerated share repurchase program and continues to expect approximately 20 Boeing 737-8 deliveries in 2024. In related news, American Airlines raised its 2024 profit forecast amid strong travel demand, reporting a significant profit beat and its best load factor in over a decade.