Southwest Airlines Q2 FY26: where the revenue came from and where it went
The whole income statement of Southwest Airlines for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- 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
| 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 |
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