Southwest Airlines Tosses Out Profit Guidance Amid 'Macroeconomic Uncertainty,' Shares Slide Despite Better-Than-Expected Q1 Results Southwest Airlines Tosses Out Profit Guidance Amid 'Macroeconomic Uncertainty' - Southwest Airlines (NYSE:LUV)

Southwest Airlines Co LUV reported first-quarter financial results after the market close on Wednesday. Here’s a rundown of the report.Q1 Revenue: $6.43 billion, versus estimates of $6.40 billionQ1 EPS: Loss of 13 cents, versus estimates for a loss of 18 centsFirst-quarter operating revenue increased 1.6% year-over-year. The company said passenger revenue increased 1.7% year-over-year. Revenue per available seat mile (RASM) increased 3.5% year-over-year. Growth was primarily driven by yield improvements from revenue management actions and capacity moderation.The company ended the quarter $8.3 billion in cash, cash equivalents and short-term investments, resulting in a net cash position of $1.6 billion, which includes debt. Southwest returned $857 million to shareholders in the first quarter in dividends and share repurchases and said it expects to repurchase the remaining $1.5 billion under its buyback by the end of July. “While the broader economic environment has been dynamic, we rem...