Southwest Airlines revenue rises but Q3 profit falls by two-thirds on higher costs ...Middle East

DALLAS (AP) — Southwest Airlines’ third-quarter revenue rose to a record high but profit fell nearly two-thirds, to $67 million, on higher costs for labor and other expenses. The airline, which is under pressure from hedge fund Elliott Investment Management to boost profit, said Thursday that adjusted earnings were 15 cents per share, which beat a forecast of six cents per share among Wall Street analysts. Southwest also said it would speed up repurchase of $250 million worth of its stock, under a $2.5 billion share-buyback plan it announced last month. Revenue rose 5%, to $6.87 billion, $100 million more than the average forecast among analysts surveyed by FactSet. However, labor costs rose

Hence then, the article about southwest airlines revenue rises but q3 profit falls by two thirds on higher costs was published today ( Thursday 24/10/2024 - 02:08 PM ) and is available on News10NBC ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Southwest Airlines revenue rises but Q3 profit falls by two-thirds on higher costs )

Also on site :

• Neon Counters A24’s SCP Foundation Movie With “Open-Source” Project To Release Under Creative Commons License
• Box Office: ‘Verity’ Aims for $35 Million Debut and Anne Hathaway’s Third No. 1 Movie of the Year, ‘Digger’ Could Bomb With $12 Million
• In 1983, Congress set aside $42 million to move a Pennsylvania town off a burning coal seam; Centralia went from 1,017 residents to five by 2020