Southwest Airlines reports first-quarter loss in latest earnings – WFAA
2025-04-24T11:15:00Z
Dallas-based Southwest Airlines reported a first-quarter loss in revenue after announcing several changes in long-standing policy, including “bags fly free.”
Dallas-based Southwest Airlines reported a first-quarter loss in revenue after announcing several changes in long-standing policy, including “bags fly free.”
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DALLAS — Southwest Airlines on Wednesday reported a loss of $149 million in its first quarter.
The Dallas-based company had a loss of 26 cents per share, the airline announced in a press release. Losses, adjusted for non-recurring costs, came to 13 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The airline posted revenue of $6.43 billion in the period, also beating forecasts. Seven analysts surveyed by Zacks expected $6.4 billion.
“While the broader economic environment has been dynamic, we remain focused on executing our transformational plan,” Bob Jordan, president and CEO of Southwest Airlines, said. “On costs, we beat our previously adjusted guidance and are on track to achieve the increased cost reduction plan targets announced last month.”
The airline has announced a slew of policy changes over the last year. Checked bags will no longer fly free and seats will be assigned. The airline will also sell premium and base fares, offer red-eye flights and advertise flights on Expedia. In February, the company announced the first mass layoffs in its history.
“We are seeing positive results on recently rolled out initiatives, including the launch of Expedia as a new distribution channel and the further optimization of our loyalty program,” Jordan said. “Looking ahead, we are confident in the initiatives we have outlined and the value we expect them to produce. We are committed to executing on these plans while controlling what we can control.”
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