Southwest Airlines (NYSE:LUV) 4Q16 Profit Down 16.7%; Beats Street View

Southwest Airlines (NYSE:LUV) 4Q16 Profit Down 16.7%; Beats Street View

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Southwest Airlines (NYSE:LUV) LUV: (%) reported third quarter earnings , before market open today, that beat street view.

On a GAAP basis, LUV reported net income of $ 522.00 million or 84 cents per share, compared with income of $ 536.00 million or 82 cents per share, a year ago period.

Excluding items, the company announced Non-GAAP net income of $ 463.00 million or 75 cents per share, where as analysts from Thomson Reuters expected $ 0.70 a share.

The company Operating Revenue increased to $ 5.08 billion, Analysts from Thomson Reuters estimated $ 5.03 billion.

Gary C. Kelly, Chairman and CEO, stated that we are delighted to report record annual profits for 2016, our 44th consecutive year of profitability. Our total operating revenues reached a record $20.4 billion, with sustained demand for our legendary low fares and superior Customer Service. Our profit margins were very strong, and our ROIC was a near-record 30.0 percent.