Southwest Airlines Co. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Revenue Guidance for the First Quarter of Fiscal 2017 and Capital Expenditure Guidance for the Full Year of Fiscal 2017
For the full year, the company announced total operating revenues of $20,425 million compared to $19,820 million for the same period a year ago. Operating income was $3,760 million compared to $4,116 million for the same period a year ago. Income before income taxes was $3,547 million compared to $3,479 million for the same period a year ago. Net income was $2,244 million compared to $2,181 million for the same period a year ago. Net income per share, diluted was $3.55 compared to $3.27 for the same period a year ago. Operating income, non-GAAP was $3,957 million compared to $3,957 million for the same period a year ago. Net income, non-GAAP was $2,370 million compared to $2,355 million for the same period a year ago. Net income per share, diluted, non-GAAP was $3.75 compared to $3.52 for the same period a year ago. Net cash provided by operating activities was $4,293 million compared to $3,238 million for the same period a year ago. Capital expenditures were $2,038 million compared to $2,041 million for the same period a year ago.
The company provided revenue guidance for the first quarter of fiscal 2017 and capital expenditure guidance for the full year of fiscal 2017. Based on current bookings and revenue trends, the company estimates first quarter 2017 operating unit revenues will be flat to down 1%, year-over-year.
The company currently estimates its 2017 capital expenditures will be approximately $2.3 billion.