FINHUB Insights

LUV · Q1 FY26 · Jan 1 – Mar 31, 2026

Southwest Airlines Q1 FY26: where the revenue came from and where it went

Southwest Airlines Q1 FY26: revenue $7.2B (+13% year over year). Net profit $0.2B. Largest cohort Passenger Revenue Non Loyalty $5.2B. The whole income statement as a sankey diagram from the SEC filing.

Period
Jan 1 – Mar 31, 2026
Reported
Apr 23, 2026 10-Q
Sankey diagram of Southwest Airlines's income statement for Q1 FY26: revenue of $7.2 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$7.2B +13% year over year
Operating profit$0.3B 5% margin
Net profit$0.2B 3% margin

The numbers

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
ItemValueShare of revenueYear over year
Revenue 7.2 100% +13%
Passenger Revenue Non Loyalty 5.2 72% +9%
Passenger Ancillary Sold… 0.7 10% +192%
Passenger Loyalty Air… 0.7 10% −14%
Loyalty Program 0.6 8% +2%
Miscellaneous 0.1 1% +78%
Operating expenses−6.995%+0pp
Operating profit0.35% margin+8pp
Tax−0.1
Net profit0.23%+5pp
Filing on EDGAR More quarters of LUV

Source of the numbers: structured XBRL data from the filing (10-Q). The diagram is generated automatically and checked against EDGAR before release. How we calculate it → About and methodology.

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