WASHINGTON (dpa-AFX) - Southwest Airlines Co. (LUV) reported first-quarter net income of $453 million or $0.66 per share, compared to $152 million or $0.22 per share, prior year. Adjusted earnings per share was $0.66, for the quarter.
On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.65 for the quarter. Analysts' estimates typically exclude special items.
Revenue increased to $4.41 billion from $4.17 billion last year. Analysts expected revenue of $4.41 billion for the quarter.
Gary Kelly, CEO, stated: 'Total operating revenues were a first quarter record $4.4 billion, driven by a 6.2 percent year-over-year increase in passenger revenues and double-digit year-over-year percentage growth in freight revenues. Customer demand was strong throughout first quarter 2015, resulting in a record first quarter load factor of 80.1 percent. As expected, first quarter 2015 passenger revenues grew in line with our available seat mile (ASM) growth of 6.0 percent, year-over-year.'
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