Southwest Airlines Cuts Profit Forecast
Southwest Airlines lowered its annual profit forecast after surging fuel costs overshadowed strong gains from higher airfares and a recent business overhaul. The carrier reported third-quarter earnings that beat expectations despite mounting cost pressures.
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SOUTHWEST AIRLINES CO cut its annual profit forecast to $2.60 to $2.85 per share on Wednesday, citing soaring fuel costs that offset higher airfares. The revised midpoint falls below the consensus analyst estimate of $2.85 per share compiled by LSEG. The earnings downgrade highlights ongoing margin pressures across the United States aviation sector as fuel expenses climb.
