Southwest Airlines

LUV Industrials Market cap $19.3B as of Sep 14, 2026 16:00 ET S&P 500

Q2 FY26 Apr 1 – Jun 30, 2026 reported Jul 23, 2026

Revenue$8.43B +16% year over year

Operating profit$0.29B 3% margin

Net profit$0.23B 3% margin

The numbers behind the diagram

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	8.43	100%	+16%
Revenue non loyalty	6.10	72%	+12%
Ancillary sold separately	0.88	10%	+183%
Passenger loyalty air	0.77	9%	−12%
Loyalty program	0.58	7%	+8%
Miscellaneous	0.06	1%	+59%
Cargo & freight	0.05	1%	+14%
Operating expenses	−8.15	97%
Compensation	−3.50	42%	−4pp
Property operating	−3.48	41%	+0pp
Interest	−0.06	1%	+0pp
Underwriting	−1.10	13%	−3pp
Operating profit	0.29	3% margin	+0pp
Tax	−0.05
Net profit	0.23	3% margin	+0pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	7.25	100%	+13%
Revenue Non Loyalty	5.19	71%	+9%
Ancillary Sold Separately	0.72	10%	+192%
Passenger… Transportation	0.69	9%	−14%
Loyalty Program	0.56	8%	+2%
Miscellaneous	0.06	1%	+78%
Cargo and Freight	0.04	1%	+7%
Operating expenses	−6.92	95%
Operating profit	0.33	5% margin	+8pp
Interest & other costs	−0.05
Tax	−0.06
Net profit	0.23	3% margin	+5pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	7.44	100%	+7%
Revenue non loyalty	5.33	72%	+3%
Air transportation	0.78	10%	−12%
Passenger ancillary sold	0.67	9%	+156%
Product & service other	0.61	8%	+6%
Cargo & freight	0.04	1%	+0%
Operating expenses	−7.05	95%
Compensation	−3.38	45%	−1pp
Property operating	−2.50	34%	−1pp
Interest	−0.05	1%	+0pp
Underwriting	−1.12	15%	+1pp
Operating profit	0.39	5% margin	+1pp
Tax	−0.07
Net profit	0.32	4% margin	+1pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	6.95	100%	+1%
Revenue non loyalty	4.90	70%	−4%
Air transportation	0.81	12%	−10%
Passenger ancillary sold	0.61	9%	+134%
Product & service other	0.59	8%	+3%
Cargo & freight	0.04	1%	−2%
Operating expenses	−6.91	99%
Compensation	−3.22	46%	+2pp
Property operating	−2.54	37%	+0pp
Interest	−0.04	0%	+0pp
Underwriting	−1.12	16%	+0pp
Operating profit	0.04	1% margin	+0pp
Other income, net	0.02
Net profit	0.05	1% margin	+0pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

Financial health

The balance sheet, the quarter's capital flow, the debt schedule and the capital structure of the quarter shown above.

Every set of results we hold, newest first. Open one on its own page.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26 Apr 1 – Jun 30, 2026 reported Jul 23, 2026 Operating margin 3% Net profit $0.23B	Apr 1 – Jun 30, 2026	Jul 23, 2026	$8.4B	+16%	3%	$0.23B	3%
Q1 FY26 Jan 1 – Mar 31, 2026 reported Apr 23, 2026 Operating margin 5% Net profit $0.23B	Jan 1 – Mar 31, 2026	Apr 23, 2026	$7.2B	+13%	5%	$0.23B	3%
Q4 FY25 Oct 1 – Dec 31, 2025 reported Feb 5, 2026 Operating margin 5% Net profit $0.32B	Oct 1 – Dec 31, 2025	Feb 5, 2026	$7.4B	+7%	5%	$0.32B	4%
Q3 FY25 Jul 1 – Sep 30, 2025 reported Oct 23, 2025 Operating margin 1% Net profit $0.05B	Jul 1 – Sep 30, 2025	Oct 23, 2025	$6.9B	+1%	1%	$0.05B	1%