Southwest Airlines Company (NYSE:LUV) is reporting third quarter financial results on Thursday 22nd October 2020, before market open.
According to analysts surveyed by Thomson Reuters, LUV is expected to report 3Q20 loss of $ 2.35 per share from revenue of $ 1700.78 million.
For the full year, analysts anticipate top line of $ 9246.31 million, while looking forward to loss of $ 6.69 per share bottom line.
Previous Quarter Performance
Southwest Airlines Company reported loss for the second quarter of $ 2.67 per share, from the revenue of $ 1,008.00 million. The quarterly revenues down 82.94 percent compared with the same quarter last year. Street analysts expected Southwest Airlines Company to report loss of $ 2.66 per share on revenue of $ 845.26 million for the second quarter. The bottom line results missed street analysts by $ 0.01 or 0.38 percent, at the same time, top line results outshined analysts by $ 162.74 million or 19.25 percent.
Stock Performance
Shares of Southwest Airlines Company traded low $ -0.42 or -1.05 percent on Wednesday, reaching $ 39.74 with volume of 4.19 million shares. The stock opened down for the day at $ 40.00, after closing the previous day trading at $ 40.16.
According to the previous trading day, closing price of $ 40.16, representing a 78.73 % increase from the 52 week low of $ 22.47 and a 31.74 % decrease over the 52 week high of $ 58.83.
The company has a market capital of $ 23.44 billion and is part of the Industrials sector and Airlines industry.
Recent Analyst recommendations
- On 7th October 2020, downgraded by JPMorgan Chase & Co. to Underweight from Neutral rating.
- On 5th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 56.00 target price.
- On 30th September 2020, maintained by Raymond James at Strong Buy rating, with $ 45.00 target price.
- On 8th September 2020, initiated by Morgan Stanley at Overweight rating, with $ 54.00 target price.
- On 2nd September 2020, upgraded by Berenberg Bank to Buy from Hold rating, with $ 45.00 target price.
Conference Call
Southwest Airlines Company will be hosting a conference call at 12:30 PM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.southwest.com
Southwest Airlines Co. operates a passenger airline that provides scheduled air transportation services in the United States and near-international markets. As of December 31, 2018, the company operated a total of 750 Boeing 737 aircraft; and served 99 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, as well as 10 near-international countries, including Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos.
