Southwest Airlines Q3 net income up YoY

Southwest Airlines Co. (NYSE: LUV) said it has reported record third quarter net income, excluding special items, of USD623 million, or USD.94 per diluted share.

This represented a USD241 million increase from third quarter 2014 and exceeded the Thomson Reuters First Call mean estimate of USD.92 per diluted share.

Record third quarter GAAP2 net income was USD584 million, or USD.88 per diluted share, compared with third quarter 2014 GAAP net income of USD329 million.

Record quarterly GAAP operating income was USD1.2 billion. Excluding special items, record third quarter operating income of USD1.0 billion, resulting in an operating margin3 of 20.3 percent.