For the quarter ended June 2023, Southwest Airlines (LUV) reported revenue of $7.04 billion, up 4.6% over the same period last year. EPS came in at $1.09, compared to $1.30 in the year-ago quarter.

The reported revenue represents a surprise of +0.69% over the Zacks Consensus Estimate of $6.99 billion. With the consensus EPS estimate being $1.08, the EPS surprise was +0.93%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Southwest performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Load factor: 83.4% versus the five-analyst average estimate of 86.25%.

• CASM, excluding Fuel and oil expense, special items, and profit sharing expense: 11.05 cents versus 11.1 cents estimated by four analysts on average.

• Available seat miles (ASMs): 42579 million compared to the 42546.31 million average estimate based on four analysts.

• Revenue passenger miles (RPMs): 35505 million versus the four-analyst average estimate of 36684.64 million.

• Revenue Per Available Seat Mile (RASM): 16.53 cents versus the four-analyst average estimate of 16.45 cents.

• Passenger revenue per ASM (PRASM): 15.05 cents compared to the 14.87 cents average estimate based on four analysts.

• Operating Expense per ASM (CASM): 14.66 cents versus 14.68 cents estimated by three analysts on average.

• Passenger revenue yield per RPM: 18.05 cents versus 17.46 cents estimated by three analysts on average.

• Fuel consumed: 538 Mgal versus 533.15 Mgal estimated by three analysts on average.

• Operating Revenues- Passenger [$M]: $6.41 billion versus $6.33 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.

• Operating Revenues- Other: $581 million compared to the $607.63 million average estimate based on five analysts. The reported number represents a change of +3.4% year over year.

• Operating Revenues- Freight [$M]: $47 million versus the five-analyst average estimate of $50.65 million. The reported number represents a year-over-year change of 0%.

View all Key Company Metrics for Southwest here>>>

Shares of Southwest have returned +2.2% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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