DALLAS — Southwest Airlines turned a profit in June without assistance from the U.S., which the company is calling a milestone in its recovery from the pandemic.

Net income reached $348 million, reversing last year’s loss in the same stretch.

Per share profit was 57 cents per share, but it was a loss of 35 cents per-share when one-time events are included. That was worse than the per-share loss of 21 cents that Wall Street expected, according to a survey by Zacks Investment Research.

Shares dipped 1.5% before the opening bell Thursday.

Revenue, at $4.01 billion was better than projected, however.

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A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LUV at https://www.zacks.com/ap/LUV