- Southwest Airlines (NYSE:LUV) fell a touch short of revenue estimates with its Q3 report after being impacted by a technology outage in July.
- Passenger revenue yield was down 4.9% Y/Y during the quarter due in a large part to a lower level of fares.
- Key metrics: Capacity +4.2% to 37.881B ASMs, load factor -10 bps to 85.3%, average haul length +1.3% to 764 miles, revenue passenger miles +4.1% to 32.32B, average fare -4.8% to $146.96, fuel cost per gallon -8.2% to $2.02.
- Southwest expects Q4 revenue per available seat miles to fall 4% to 5%.
- Previously: Southwest Airlines beats by $0.05, misses on revenue (Oct. 26)
- LUV -6.67% premarket to $39.15.