"As we look to realize ongoing benefits of modernizing our fleet and optimizing our route network, we are enthusiastic about our ability to leverage our strengths and scale to meet Customer demand. Based on our current outlook, the reduction in the statutory federal rate will result in hundreds of millions in tax savings, which will significantly boost our earnings in 2018. The tax reform is very meaningful to Southwest Airlines, reducing our 2017 deferred tax liability by $1.4 billion. We also announced an incremental donation to charitable causes and an additional investment in our fleet to support future growth opportunities and fleet modernization. We celebrated the passage of tax reform with our Employees through a $1,000 per person cash bonus paid on January 8, 2018. "We applaud Congress and the President for the tax reform legislation passed on December 22, 2017. As ever, the Warrior Spirits and fortitude of our People resulted in an outstanding overall 2017 performance, which earned them $543 million in profitsharing during 2017. These achievements are significant, especially considering the backdrop of unprecedented natural disasters and the competitive industry environment. Our Employees delivered another outstanding year of operational Reliability and Hospitality, including the best baggage delivery rates in our history. We celebrated several notable milestones during 2017, including the implementation of our new reservation system the retirement of our Boeing 737-300 Classic fleet the launch of the new Boeing 737 MAX 8 the launch of service to Cincinnati, Grand Cayman, and Turks & Caicos and the announcement of our commitment to serve Hawaii. We made significant progress modernizing our fleet, investing in technology and facilities, and returning value in excess of our free cash flow 1 to Shareholders. "Our strong profits, cash flow, and financial position enabled us to deploy capital wisely and sustain high returns on invested capital. I want to thank our People for their exceptional results and congratulate them on this outstanding honor. Last week, for the 24th consecutive year, Southwest was named to FORTUNE's 2018 list of World's Most Admired Companies. Kelly, Chairman of the Board and Chief Executive Officer, stated, "Our strong fourth quarter earnings performance capped another year of extraordinary achievements, including 45 straight years of profitability. Annual return on invested capital (ROIC) 1 of 25.9 percent.Returned approximately $1.9 billion to Shareholders through a combination of $274 million in dividends and $1.6 billion in share repurchases.Annual operating cash flow of $3.9 billion, and annual free cash flow 1 of $1.8 billion.Annual operating income of $3.5 billion, resulting in an operating margin 2 of 16.6 percent, or 16.3 percent, excluding special items 3.Excluding special items 1, annual net income of $2.1 billion, or $3.50 per diluted share.Record annual net income and earnings per diluted share of $3.5 billion and $5.79, respectively.Excluding special items 1, fourth quarter net income of $459 million, or $.77 per diluted share.Record fourth quarter net income and earnings per diluted share of $1.9 billion and $3.18, respectively.(NYSE: LUV) (the "Company") today reported its fourth quarter and annual 2017 results: # with open("lvis_v0.5_val.DALLAS, Jan. 25, 2018 /PRNewswire/ - Southwest Airlines Co.
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