(Bloomberg) -- Southwest Airlines Co. plunged after the carrier said it expects economic turmoil to wipe out as much as $1 billion of its annual pre-tax profit this year and offered shareholders a much-reduced outlook for the balance of 2025. Most Read from Bloomberg Earnings before interest and taxes for the year will be $600 million to $800 million, Southwest said in a statement on Wednesday that also included second-quarter results that fell short of analyst expectations. The carrier originally expected $1.7 billion in pre-tax profit at the start of the year. Southwest is one of a few companies so far to put a price on the fallout from President Donald Trump's efforts to reset global trade, inflation and economic uncertainty that caused travel demand to collapse early this year. Most carriers pulled financial guidance in April, saying it was impossible to forecast demand.