![]() These opportunities complement our network and fit within our existing 2018 growth plans, with available seat miles (ASMs) expected to increase in the low five percent range, year-over-year." Additionally, we entered into an agreement with Alaska Airlines to lease 12 slots at New York's LaGuardia Airport and 8 slots at Washington Reagan National Airport. "We continue to expect to begin selling tickets in 2018 for service to Hawaii, and today we announce our intent to begin service to four Hawaiian airports: Honolulu International Airport, Lihue Airport, Kona International Airport at Keahole, and Kahului Airport. We are encouraged by our first quarter results, and our goal for the year is to expand net income and net margin, excluding special items. We accrued another $102 million in profitsharing during first quarter 2018 for the benefit of our Employees. Our balance sheet and cash flows remained strong in first quarter, which enabled continued investment in fleet modernization, facilities, and technology allowed the early funding of 2017 profitsharing of $543 million last month for our Employees and provided $648 million of share buybacks and dividends for our Shareholders. With the reduction in the statutory federal income tax rate, our first quarter net income increased significantly, resulting in meaningful year-over-year net margin expansion. Year-over-year growth in operating revenues kept pace with our capacity growth, and costs per available seat mile were also comparable with first quarter last year. "With regard to our first quarter performance, our strong profits are a solid start to the year, and our margins are among the top in the industry. It is our highest priority-today and always. We will never compromise the Safety of our Customers and Employees. ![]() We continue to cooperate with the National Transportation Safety Board's thorough investigation to understand the cause of the accident. I want to extend my immense gratitude for the compassion and support shown by our Employees, Customers, and airline peers. Kelly, Chairman of the Board and Chief Executive Officer, stated, "It remains a somber time for the Southwest Family following the Flight 1380 accident, and our thoughts and prayers continue to be with the Riordan family, and all of our Customers on the flight. Revised Boeing firm order delivery schedule by exercising 40 737 MAX 8 options, adding 10 firm orders in each year 2019 through 2022, to support future fleet modernization.Return on invested capital (ROIC) 3 pre-tax of 27.1 percent for the 12 months ended March 31, 2018, or 20.8 percent on an after-tax basis.Returned $648 million to Shareholders through a combination of share repurchases and dividends.Operating cash flow of $1.0 billion and free cash flow 3 of $708 million.Excluding special items, operating income of $584 million and operating margin 5 of 11.8 percent.Excluding special items 3, net income of $438 million, net margin 4 of 8.9 percent, and earnings per diluted share of $.75.Operating income of $616 million and operating margin 2 of 12.5 percent.Net income of $463 million, net margin 1 of 9.4 percent, and record first quarter earnings per diluted share of $.79. ![]() (NYSE:LUV) (the "Company") today reported its first quarter 2018 results: DALLAS, April 26, 2018 /PRNewswire/ - Southwest Airlines Co.
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