Southwest rises above fuel prices, puts up strong 2Q profit

July 26, 2018 - 4:08 am

DALLAS (AP) — Southwest Airlines overcame rising fuel prices to top profit expectations, though an inflight disaster in which a passenger was killed had an adverse effect on revenue.

Second-quarter earnings were $733 million, or $1.27 per share. Removing one-time gains, per-share profit was $1.26, which, according to a survey by Zacks Investment Research, is a penny better than Wall Street expected.

Revenue of $5.74 billion was just short. In April, a fan blade snapped off an engine and struck a plane while it was in the air killing a passenger. The incident cut revenue by $100 million.

Shares of Southwest Airlines Co. edged lower early Thursday.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LUV at https://www.zacks.com/ap/LUV

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