Southwest Results Beat Expectations but We’re Focused on RASM and Domestic Capacity; Maintaining FVE
No-moat Southwest Airlines reported fourth-quarter and full-year 2016 results ahead of consensus. We think the two key pacing items for the stock in 2017 are a return to year- over-year unit revenue growth during the first half and the ability to constrain domestic capacity expansion. Despite better close-in yields in the fourth quarter of 2016 and improving unit revenue trends, we continue to posit that the backdrop is getting harder for U.S. airlines because of increasing fuel and labor costs....Southwest Airlines operates Southwest Airlines, a passenger airline that provides scheduled air transportation in the United States and near-international markets. The company has Boeing 737 aircraft in its fleet and serves destinations in various states, the District of Columbia, the Commonwealth of Puerto Rico, and other near-international countries such as Mexico, Jamaica, The Bahamas, Aruba, Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos. The company principally provides point-to-point service, which allows for direct nonstop routing. The company also provides a suite of digital platforms to support Customers' needs prior to and during the course of their travel.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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