Southwest Airlines stock was rising early Thursday after the company lifted its outlook for second-quarter operating revenue.
The carrier now expects revenue to rise 12% to 15% versus 2019—before the start of the Covid-19 pandemic—compared with its previous forecast of an 8% to 12% gain.
Southwest (ticker: LUV) stock rose 1.5% in premarket trading to $43.09, outpacing the 0.6% gains in futures on the Dow Jones Industrial Average futures and S&P 500.
"The Company continues to experience strong load factors and an acceleration in bookings for summer travel," Southwest said in a regulatory filing .
"The improvement in the company's second quarter 2022 operating revenue guidance is primarily attributable to continued passenger yield strength, which has more than offset the increase in its second quarter 2022 fuel price projection. Barring any unforeseen events and based on current trends, the company expects solid profits and operating margins, excluding special items, in second quarter 2022 and for the remainder of this year," Southwest added.
Southwest stock has fallen more than 31% in the past year, worse than both the Dow and the S&P 500.