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![Southwest Airlines Co [LUV] reports annual net loss of $465.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FLUV.png&w=1200&q=75)
SOUTHWEST AIRLINES CO [LUV] has reported a net loss of $465.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $26.1 billion
Based in Dallas, Texas, SOUTHWEST AIRLINES CO operates in the TRANSPORT sector.
In the 12 months ended December 31, 2023, the company reported total operating revenues of $26.091 billion, showing an increase from $23.814 billion in the same period of the previous year and $15.79 billion in 2021.
Operating expenses, net of $25.867 billion in 2023, also increased compared to $22.797 billion in 2022 and $14.069 billion in 2021. This resulted in an operating income of $224 million for 2023, a decrease from $1.017 billion in 2022 and $1.721 billion in 2021.
Moving to other expenses (income), the company incurred a total of $(409) million in 2023, showing a decrease from $289 million in 2022 and $396 million in 2021.
Income before income taxes amounted to $633 million in 2023, down from $728 million in 2022 and $1.325 billion in 2021. The provision for income taxes was $168 million in 2023, compared to $189 million in 2022 and $348 million in 2021.
The net income for 2023 was reported at $465 million, lower than the $539 million in 2022 and $977 million in 2021. The net income (loss) per share for basic and diluted amounts in 2023 were $0.78 and $0.76 respectively, down from $0.91 and $0.87 in 2022, and $1.65 and $1.61 in 2021.
In the individual operating revenue segments, Passenger revenues were at $23.637 billion for 2023, increasing from $21.408 billion in 2022 and $14.066 billion in 2021. Freight revenues remained relatively stable at $175 million in 2023, $177 million in 2022, and $187 million in 2021. Other operating revenues were $2.279 billion in 2023, showing growth from $2.229 billion in 2022 and $1.537 billion in 2021.
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