Southwest Airlines updates Q4 2023 with additional $51M pilot bonus expense; lowers 2024 CASM-X guidance

SOUTHWEST AIRLINES CO

2023-FY EPS reported $0.76 revenue$26,091,000,000

Additional $51M expense accrued in Q4 2023 for pilot ratification bonus and payroll taxes.
Q1 2024 CASM-X guidance lowered to 5-6% YoY (prev. 6-7%).
Full-year 2024 CASM-X guidance narrowed to 5.5-7% (prev. 6-7%).
Other guidance (RASM, ASMs, fuel costs, capex) unchanged from Jan 25 release.
Pilot bonus accrual refined after Jan 22, 2024 CBA ratification; incremental expense reflects final estimate.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SOUTHWEST AIRLINES CO updated its fourth quarter and full year 2023 guidance (reaffirmed).

Period: fourth quarter and full year 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On January 25, 2024, Southwest Airlines Co. (the “Company”) issued a press release announcing its financial results for the fourth quarter and full year 2023 (the “2023 Earnings Release”), referencing a change in estimate related to the the ratification bonus for its Pilots which was recorded in fourth quarter 2023.

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Source: SEC EDGAR

accession 0000092380-24-000026

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