Southwest Airlines Stock Drops 5% Following Q2 Earnings
<p><a href='https://financialmodelingprep.com/financial-summary/LUV'>Southwest Airlines (NYSE:LUV)</a> shares dropped more than 5% pre-market today following the release of its Q2 financial results. The company's EPS for the quarter stood at $1.09, aligning with the Street estimate. Moreover, revenue showed a year-over-year increase of 4.6% to reach $7.04 billion, surpassing the Street forecast of $6.98 billion.</p>
<p>However, the load factor, which measures the percentage of seats filled on flights, came in weaker than anticipated at 83.4%, compared to the consensus expectation of 85.2%. This factor could potentially explain the drop in share value after the earnings report.</p>
<p>Looking ahead, based on the current revenue and cost trends, Southwest Airlines anticipates achieving record operating revenue and a positive outlook for Q3/23. Additionally, the company expects year-over-year margin expansion for the entire year of 2023.</p>

NYSE:LUV