secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHWEST AIRLINES CO (LUV)
CIK:        0000092380
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0000092380-23-000021
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southwest Q1 net loss $159M; record revenue $5.7B; cuts 2023 capacity and capex guidance on Boeing delays
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- Net loss $159M ($0.27 loss per share); record Q1 revenue $5.7B (+21.6% YoY).
- December 2022 disruption cost ~$380M pre-tax; $325M negative revenue impact mostly in Jan/Feb.
- 2023 capacity growth cut to 14-15% from 15-16% due to Boeing delivery delays (70 vs 90 aircraft).
- 2023 CASM-X guidance revised to down 2-4% (from down 3.5-5.5%); capex reduced to $3.5B.
- Liquidity $12.7B; net cash $3.6B; $214M in dividends paid in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/92380/000009238023000021/0000092380-23-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/92380/000009238023000021/luv-20230427.htm
  HTML page:      https://secwatch.observer/filing/0000092380-23-000021

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