Wall Street analysts expect Southwest Airlines (LUV Quick QuoteLUV - Free Report) to post quarterly loss of $0.31 per share in its upcoming report, which indicates a year-over-year decline of 14.8%. Revenues are expected to be $6.45 billion, up 13.1% from the year-ago quarter.

The consensus EPS estimate for the quarter has undergone a downward revision of 3.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

Bearing this in mind, let's now explore the average estimates of specific Southwest metrics that are commonly monitored and projected by Wall Street analysts.

The consensus estimate for 'Operating Revenues- Passenger [$M]' stands at $5.84 billion. The estimate suggests a change of +14.4% year over year.

The collective assessment of analysts points to an estimated 'Operating Revenues- Other' of $570.45 million. The estimate points to a change of +1.9% from the year-ago quarter.

According to the collective judgment of analysts, 'Operating Revenues- Freight [$M]' should come in at $44.69 million. The estimate indicates a change of +9% from the prior-year quarter.

The combined assessment of analysts suggests that 'Load factor' will likely reach 81.5%. Compared to the current estimate, the company reported 77.6% in the same quarter of the previous year.

Analysts forecast 'Revenue Per Available Seat Mile (RASM)' to reach 15.27 cents. Compared to the current estimate, the company reported 14.99 cents in the same quarter of the previous year.

Analysts predict that the 'Available seat miles (ASMs)' will reach 42,178.80 million. Compared to the current estimate, the company reported 38,062 million in the same quarter of the previous year.

It is projected by analysts that the 'Passenger revenue per ASM (PRASM)' will reach 13.84 cents. Compared to the present estimate, the company reported 13.41 cents in the same quarter last year.

The consensus among analysts is that 'CASM, excluding Fuel and oil expense, special items, and profitsharing expense' will reach 12.40 cents. Compared to the present estimate, the company reported 11.67 cents in the same quarter last year.

Analysts' assessment points toward 'Revenue passenger miles (RPMs)' reaching 34,505.87 million. Compared to the present estimate, the company reported 29,547 million in the same quarter last year.

The average prediction of analysts places 'Fuel consumed' at 524.68 Mgal. The estimate is in contrast to the year-ago figure of 483 Mgal.

Analysts expect 'CASM, excluding special items' to come in at 16.04 cents. The estimate compares to the year-ago value of 15.74 cents.

Based on the collective assessment of analysts, 'Passenger revenue yield per RPM' should arrive at 17.07 cents. The estimate is in contrast to the year-ago figure of 17.28 cents.

View all Key Company Metrics for Southwest here>>>

Over the past month, Southwest shares have recorded returns of +3.3% versus the Zacks S&P 500 composite's -4% change. Based on its Zacks Rank #3 (Hold), LUV will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>