LULUVEarnings Analysis财报电话会Source pending来源待核by InvestLog AIInvestLog AI 整理
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LUV earnings call: We expect fourth quarter adjusted earnings per share of $0.55 to $0.80 based on an average fuel price of approximately $4.55 per gallon using the forward curve as of October 15.西南航空 (LUV) 电话会：我们预计第四季度调整后每股收益为0.55美元至0.80美元，基于10月15日远期曲线所显示的约每加仑4.55美元的平均燃油价格。
Management remarks
Call period: 2026 Q3 · 2026-10-22
Guidance: Tom Doxey: We expect fourth quarter adjusted earnings per share of $0.55 to $0.80 based on an average fuel price of approximately $4.55 per gallon using the forward curve as of October 15.
Demand and orders: Justin Jones: With approximately 65% of fourth quarter revenue already booked, Demand remains healthy and broad based.
Margins: Robert E. Jordan: In the third quarter, we delivered an adjusted operating margin of 5.4%, up 4.8 points year over year and that is despite an $820 million year over year headwind from higher fuel prices.
Analyst Q&A
Analyst Thomas Fitzgerald asked: And then just a follow-up on loyalty. Specifically as it relates to other revenue. I think that line item's up around 7.5%, call it, year to date. And like you are going to have a lot of momentum next year with the new credit card product, presumably a big upgrade cycle. Is it fair to think other revenue could accelerate further next year, maybe into the high single digits or low double digits? Management Tom Doxey answered: On the initiatives, the 2 really big ones, of course, were bag fees and then the seat assignments, the extra legroom seats. We have talked about going from $1 billion of EBIT in 2026 to about $1 billion in EBIT again for the seat side of it in 2027. We are still on track for that if not ahead. On the bag side, that $1 billion that we had talked about for the bags has tracked. And the 1 change that is a positive change that we have had this year is bag fees increased a bit, it just stepped that up.
