Southwest (LUV) reported earnings, posting an adjusted loss of $1 billion, or $1.72 a share, vs. a loss of $77 million, or 15 cents a share, a year earlier. Analysts polled by FactSet had been expecting a loss of $1.85 a share.
“While the pandemic is not over, we believe the worst is behind us, in terms of the severity of the negative impact on travel demand,” CEO Gary Kelly said in a statement. "Vaccinations are on the rise, and COVID-19 hospitalizations in the United States are down significantly from their peak in January 2021. As a result, we are experiencing steady weekly improvements in domestic leisure bookings, which began in mid-February 2021."
For more on the rebounding U.S. travel industry, Watch: Travel is Back in the U.S., While Global Picture Looks Different
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