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Southwest Airlines | 10-Q: Q3 2024 Earnings Report

Southwest Airlines | 10-Q: Q3 2024 Earnings Report

西南航空 | 10-Q：2024財年三季報
美股SEC公告 ·  2024/10/29 04:11

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Southwest Airlines reported record third quarter operating revenues of $6.9 billion, driven by all-time Q3 highs in passenger revenue and passengers carried. However, operating income declined 67.5% year-over-year to $38 million, while net income fell 65.3% to $67 million, primarily due to higher operating expenses, particularly increased labor costs.The company's operating expenses increased 6.6% year-over-year, outpacing the 5.3% revenue growth. Salaries, wages and benefits expense rose 12.5% to $3.07 billion due to new labor contracts and higher contractual wages. This was partially offset by a 9.4% decrease in fuel costs to $1.42 billion, with economic fuel costs per gallon declining to $2.55 from $2.78 last year.Looking ahead, Southwest expects Q4 unit revenues to increase 3.5-5.5% year-over-year despite a 4% capacity reduction. The company announced several strategic initiatives including plans to implement assigned seating and premium seating options in 2025, introduce redeye flights, and launch new revenue management systems. Southwest also authorized a new $2.5 billion share repurchase program and plans to launch an initial $250 million accelerated buyback in Q4 2024.
Southwest Airlines reported record third quarter operating revenues of $6.9 billion, driven by all-time Q3 highs in passenger revenue and passengers carried. However, operating income declined 67.5% year-over-year to $38 million, while net income fell 65.3% to $67 million, primarily due to higher operating expenses, particularly increased labor costs.The company's operating expenses increased 6.6% year-over-year, outpacing the 5.3% revenue growth. Salaries, wages and benefits expense rose 12.5% to $3.07 billion due to new labor contracts and higher contractual wages. This was partially offset by a 9.4% decrease in fuel costs to $1.42 billion, with economic fuel costs per gallon declining to $2.55 from $2.78 last year.Looking ahead, Southwest expects Q4 unit revenues to increase 3.5-5.5% year-over-year despite a 4% capacity reduction. The company announced several strategic initiatives including plans to implement assigned seating and premium seating options in 2025, introduce redeye flights, and launch new revenue management systems. Southwest also authorized a new $2.5 billion share repurchase program and plans to launch an initial $250 million accelerated buyback in Q4 2024.
西南航空報告稱，第三季度營業收入創下690億的記錄，主要受到乘客收入和載客量的歷史新高的推動。然而，營業收入同比下降67.5%，降至3800萬，而凈利潤下降65.3%，降至6700萬，主要是由於營業費用增加，特別是勞動力成本上升。該公司的營業費用同比增長6.6%，超過了5.3%的營業收入增長。由於新勞動合同和更高的合同工資，工資、工資和福利支出增長了12.5%，達到307億。這部分被燃料成本的9.4%下降所抵消，燃料成本降至142億，經濟燃料每加侖成本從去年的2.78美元下降至2.55美元。展望未來，西南航空預計第四季度單位收入同比增長3.5%-5.5%，儘管運力減少4%。公司宣佈了若干戰略舉措，包括計劃在2025年實施指定座位和優質座位期權，引入紅眼航班，以及推出新的營業收入管理系統。西南航空還授權了一項新的250億的股票回購計劃，並計劃在2024年第四季度啓動25000萬的加速回購。
西南航空報告稱，第三季度營業收入創下690億的記錄，主要受到乘客收入和載客量的歷史新高的推動。然而，營業收入同比下降67.5%，降至3800萬，而凈利潤下降65.3%，降至6700萬，主要是由於營業費用增加，特別是勞動力成本上升。該公司的營業費用同比增長6.6%，超過了5.3%的營業收入增長。由於新勞動合同和更高的合同工資，工資、工資和福利支出增長了12.5%，達到307億。這部分被燃料成本的9.4%下降所抵消，燃料成本降至142億，經濟燃料每加侖成本從去年的2.78美元下降至2.55美元。展望未來，西南航空預計第四季度單位收入同比增長3.5%-5.5%，儘管運力減少4%。公司宣佈了若干戰略舉措，包括計劃在2025年實施指定座位和優質座位期權，引入紅眼航班，以及推出新的營業收入管理系統。西南航空還授權了一項新的250億的股票回購計劃，並計劃在2024年第四季度啓動25000萬的加速回購。
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