RTTNews | Jan 27, 2022 06:50AM EST

06:49 Thursday, January 27, 2022 (RTTNews.com) - Southwest Airlines Co. (LUV) reported fourth-quarter adjusted profit per share of $0.14 compared to a loss of $1.29, prior year. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.07, for the quarter. Analysts' estimates typically exclude special items.

Net profit was $68 million or $0.11 per share compared to a loss of $908 million or $1.54 per share, last year. Revenue increased to $5.05 billion from $2.01 billion, a year ago. Analysts on average had estimated $5.01 billion in revenue.

"With the Omicron variant and weather impacting our results, we expect losses in January and February and a return to profitability in March 2022. Based on our current plan, while we no longer expect to be profitable in first quarter, we expect to beprofitable for the remaining three quarters of this year, and for full year 2022," Bob Jordan, Incoming CEO, stated.

The company ended 2021 with liquidity of $16.5 billion, well in excess of debt outstanding of $10.7 billion.

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