Southwest reports a second quarter net profit of $228 million

Southwest Airlines Company (Dallas) today reported its second quarter 2012 results. Second quarter 2012 net income was $228 million, or $.30 per diluted share, which included $45 million (net) of unfavorable special items. This compared to net income of $161 million, or $.21 per diluted share, in second quarter 2011, which included favorable special items totaling $40 million (net). Excluding special items, second quarter 2012 net income was a record $273 million, or $.36 per diluted share, compared to $121 million, or $.15 per diluted share, in second quarter 2011. This compared favorably to Thomson’s First Call mean estimate of $.33 per diluted share. Operating income for second quarter 2012 was $460 million, compared to $207 million in second quarter 2011. Excluding special items, operating income was a record $485 million for second quarter 2012, compared to $276 million for the same period last year.

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