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Southwest Airlines (LUV)

In its 50th year of service, Dallas-based Southwest Airlines Co. continues to differentiate itself from other air carriers with exemplary Customer Service to a Customer base topping 130 million passengers in 2019. Southwest became the nation's largest domestic air carrier in 2003 and maintains that ranking based on the U.S. Department of Transportation's most recent reporting of domestic originating passengers boarded. In peak travel seasons during 2019, Southwest operated more than 4,000 weekday departures among a network of 101 destinations in the United States and 10 additional countries. In early 2020, the carrier added service to Hilo, Hawaii, and Cozumel, Mexico. Southwest began service to Palm Springs, Calif. and Miami on Nov. 15, and will begin service to two new seasonal destinations in Colorado, Steamboat Springs and Montrose (Telluride and Crested Butte) on Dec. 19, 2020. On Feb. 14, 2021, Southwest will begin service to Chicago (O'Hare) and Sarasota/Bradenton. Service from Savanah, Georgia and Colorado Springs will begin on March 11, 2021, and operations from Houston (George Bush Intercontinental) and Jackson, Miss. are anticipated to begin in the first half of 2021. The carrier issued its Southwest® Promise in May 2020 to highlight new and round-the-clock efforts to support its Customers and Employees wellbeing and comfort. Among the changes are enhanced cleaning efforts at airports and onboard aircraft, and face covering requirements for Customers and Employees. Additional details about the Southwest Promise are available at Southwest.com/Promise. Southwest coined Transfarency® to describe its purposed philosophy of treating Customers honestly and fairly, and low fares actually staying low. Southwest is the only major U.S. airline to offer bags fly free® to everyone (first and second checked pieces of luggage, size and weight limits apply, some carriers offer free checked bags on select routes or in qualified circumstances). Southwest does not charge change fees, though fare differences might apply. Southwest is one of the most honored airlines in the world, known for a triple bottom line approach that contributes to the carrier's performance and productivity, the importance of its People and the communities they serve, and an overall commitment to efficiency and the planet. Learn more about how the carrier gives back to communities across the world by visiting Southwest.com/citizenship. Book Southwest Airlines' low fares online at Southwest.com or by phone at 800-I-FLY-SWA.

Company profile

Ticker
LUV
Exchange
CEO
Gary Kelly
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
AirTran Airways 717 Leasing Corporation • AirTran Airways, Inc. • AirTran Holdings, LLC • Southwest Jet Fuel Co. • Triple Crown Assurance Co. ...
IRS number
741563240

LUV stock data

Calendar

2 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 13.1B 13.1B 13.1B 13.1B 13.1B 13.1B
Cash burn (monthly) (no burn) (no burn) 125.33M (no burn) (no burn) (no burn)
Cash used (since last report) n/a n/a 359.6M n/a n/a n/a
Cash remaining n/a n/a 12.74B n/a n/a n/a
Runway (months of cash) n/a n/a 101.6 n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
27 May 22 Montford John T Common Stock Sell Dispose S No No 45.695 2,300 105.1K 23,296
18 May 22 Biegler David W Common Stock Grant Acquire A No No 0 3,844 0 23,310
18 May 22 Biggins J Veronica Common Stock Grant Acquire A No No 0 3,844 0 54,576
18 May 22 Brooks Douglas H Common Stock Grant Acquire A No No 0 3,844 0 64,076
76.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 976 971 +0.5%
Opened positions 119 147 -19.0%
Closed positions 114 186 -38.7%
Increased positions 332 299 +11.0%
Reduced positions 330 354 -6.8%
13F shares Current Prev Q Change
Total value 20.68B 19.43B +6.4%
Total shares 451.6M 453.4M -0.4%
Total puts 9.01M 14.64M -38.5%
Total calls 10.36M 13.97M -25.9%
Total put/call ratio 0.9 1.0 -17.0%
Largest owners Shares Value Change
Vanguard 63.03M $2.89B +2.0%
Primecap Management 53.55M $2.45B -1.4%
STT State Street 40.76M $1.87B -0.3%
BLK Blackrock 32.59M $1.49B -0.5%
TROW T. Rowe Price 28.39M $1.3B +5.4%
AMP Ameriprise Financial 16.33M $748.11M +57.3%
FMR 16.06M $735.61M +17.5%
Artisan Partners Limited Partnership 11.81M $541.11M -0.9%
Geode Capital Management 11.1M $507.67M +4.0%
JPM JPMorgan Chase & Co. 10.51M $481.57M -1.6%
Largest transactions Shares Bought/sold Change
BEN Franklin Resources 2.37M -7.07M -74.9%
AMP Ameriprise Financial 16.33M +5.95M +57.3%
IVZ Invesco 2.63M -2.8M -51.6%
Point72 Asset Management 2.93M +2.75M +1523.4%
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 64.41K -2.7M -97.7%
Renaissance Technologies 228.2K -2.59M -91.9%
FMR 16.06M +2.4M +17.5%
Oldfield Partners 2.28M +2.28M NEW
Marshall Wace 2.24M +2.24M NEW
Scout Investments 2.02M +2.02M NEW

Financial report summary

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Management Discussion
  • Passenger revenues for 2021 increased by $6.4 billion, or 83.5 percent, compared with 2020. On a unit basis, Passenger revenues increased 43.9 percent, year-over-year. The increase in Passenger revenues on both a dollar and unit basis were primarily due to the improvements in leisure Passenger demand and bookings in 2021, compared with the severe decline in demand and bookings resulting from the COVID-19 pandemic for the majority of 2020.
  • Freight revenues for 2021 increased by $26 million, or 16.1 percent, compared with 2020, primarily due to increased demand for consumer goods.
  • Other revenues for 2021 increased by $315 million, or 25.8 percent, compared with 2020. The increase was primarily due to an increase in income from business partners, including Chase Bank USA, N.A. ("Chase"). The improving economy throughout 2021 and rebound in travel demand resulted in higher spend on the Company's co-branded credit card, as well as additional revenues earned through the Company's rental car and hotel partners.

Content analysis

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