The uptick in air-travel demand in the United States can be gauged from the fact that 75.9% of second-quarter 2022 passenger revenues came from the domestic markets. In the year-ago quarter, Delta incurred a loss of $1.07 per share when air-travel demand was not as buoyant as in the current scenario.ĭAL’s revenues came in at $13,824 million, which not only beat the Zacks Consensus Estimate of $13,608.9 million and soared 94% from the year-ago quarter’s figure as air-travel demand rebounded from the pandemic lows. The earnings miss disappointed investors, resulting in the stock shedding value in early trading. Multiple flight cancellations in May and June also hurt results. Escalated operating expenses induced the earnings miss. Performance of Other Transportation Companiesĭelta AirLines’ DAL second-quarter 2022 earnings (excluding 29 cents from non-recurring items) of $1.44 per share fell short of the Zacks Consensus Estimate of $1.71. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The effective tax rate is expected to be 24-26% in the year.Ĭurrently, Southwest Airlines carries a Zacks Rank #3 (Hold). Interest expenses are expected to be $360 million in 2022. CASM, excluding fuel, oil and profit-sharing expenses, and special items, is anticipated to increase 12-16% in 2022 from 2019. Economic fuel costs per gallon are now estimated between $2.95 and $3.05 (prior guidance: $2.75-$2.85). Interest expenses are expected to be $90 million in the second quarter.įor 2022, Southwest continues to expect capacity to decline approximately 4% from the 2019 level.

LUV expects CASM, excluding fuel, oil and profit-sharing expenses, and special items, to increase 12-15% in the ongoing quarter from the comparable period in 2019. Economic fuel costs per gallonare expected to be $3.25 to $3.35. ASMs are estimated to remain flat from the comparable period in 2019. As of Jun 30, 2022, the company had long-term debt (less current maturities) of $8,877 million compared with $10,309 million at the end of March 2022.įor third-quarter 2022, operating revenues are expected to register 8-12% growth compared with 2019. Southwest Airlines ended the second quarter with cash and cash equivalents of $13,234 million compared with $13,098 million at the end of March 2022. However, consolidated unit cost or cost per available seat mile (CASM) excluding fuel, oil and profit-sharing expenses, and special items increased 4.7% year over year. Total adjusted operating expenses (excluding profit sharing, special items, fuel and oil expenses) increased 17.5%.įuel cost per gallon (inclusive of fuel tax: economic) rose 75% to $3.36. On an adjusted basis (excluding special items), the company reported operating income of $1,173million against a loss of $162 million. In the second quarter, Southwest incurred an operating income (as reported) of $1,158 million compared with $594 million in the year-ago period.

Revenue per available seat mile (RASM) improved 50.4% to 18.03 cents. Passenger revenue per available seat mile (PRASM: a key measure of unit revenues) ascended 53.5% year over year to 16.39 cents. Load factor (percentage of seats filled by passengers) improved to 87.1% from 82.9% in the year-ago quarter as traffic growth outweighed capacity expansion.

Capacity or available seat miles (ASMs) climbed 11.7% year over year to 37.32 billion. Quote Operating StatisticsĪirline traffic, measured in revenue passenger miles, surged 17.5% year over year to 32.52 billion in the quarter under review. price-consensus-eps-surprise-chart | Southwest Airlines Co.

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