Why Southwest Airlines (LUV) Shares Are Trading Lower

Southwest Airlines Co LUV shares are trading lower by 4.5% to $28.51 during Friday’s session. Shares of airline stocks are trading lower in sympathy with Delta, which dropped after reporting fourth-quarter results and issuing 2024 guidance.

What Happened?

In fourth-quarter of FY23, Delta saw a 5.9% YoY growth in operating revenue, reaching $14.22 billion. Adjusted operating revenue rose by 11.1% to $13.66 billion, surpassing the expected $13.52 billion.

Adjusted EPS was $1.28, beating the consensus of $1.17. Total passenger revenue increased by 12% YoY to $12.17 billion, but cargo revenue declined by 24% YoY to $188 million…Read More

According to data from Benzinga Pro, LUV has a 52-week high of $39.53 and a 52-week low of $21.91.