Southwest Airlines Co. (LUV)LUVSouthwest Airlines Co.

Financials

Quarterly Income Statement (USD)

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Quarterly Report	TTM	Quarter ended Jun 2026	Quarter ended Mar 2026	Quarter ended Dec 2025	Quarter ended Sep 2025	Quarter ended Jun 2025	Quarter ended Mar 2025	Quarter ended Dec 2024	Quarter ended Sep 2024
Revenue	30.07B	8.43B	7.25B	7.44B	6.95B	7.24B	6.43B	6.93B	6.87B
Cost of Goods Sold	11.72B	-6.52B	6.52B	5.93B	5.79B	5.89B	5.56B	5.70B	5.75B
Gross Profit	18.35B	14.95B	728.00M	1.51B	1.16B	1.36B	867.00M	1.23B	1.12B
Gross Profit Margin	61.0%	177.3%	10.0%	20.3%	16.7%	18.7%	13.5%	17.7%	16.3%
Total Operating Expenses	17.31B	14.67B	398.00M	1.12B	1.12B	1.13B	1.09B	950.00M	1.08B
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	2.24B	0.00	0.00	1.12B	1.12B	0.00	0.00	346.00M	0.00
Operating Income (EBIT)	1.04B	285.00M	330.00M	391.00M	35.00M	225.00M	-223.00M	278.00M	38.00M
Operating Margin	3.5%	3.4%	4.6%	5.3%	0.5%	3.1%	-3.5%	4.0%	0.6%
Income Before Tax (EBT)	1.07B	307.00M	285.00M	407.00M	68.00M	280.00M	-192.00M	329.00M	89.00M
Interest Income	10.00M	-80.00M	23.00M	33.00M	34.00M	54.00M	84.00M	105.00M	121.00M
Interest Expense	171.00M	76.00M	42.00M	31.00M	22.00M	26.00M	35.00M	47.00M	54.00M
Other Income/Expense	26.00M	22.00M	-45.00M	16.00M	33.00M	55.00M	31.00M	51.00M	51.00M
Net Income	837.00M	233.00M	227.00M	323.00M	54.00M	213.00M	-149.00M	261.00M	67.00M
Income Tax Expense	230.00M	74.00M	58.00M	84.00M	14.00M	67.00M	-43.00M	68.00M	22.00M
Net Profit Margin	2.8%	2.8%	3.1%	4.3%	0.8%	2.9%	-2.3%	3.8%	1.0%
EBITDA	2.61B	687.00M	728.00M	762.00M	429.00M	625.00M	173.00M	685.00M	476.00M
EBITDA Margin	8.7%	8.1%	10.0%	10.2%	6.2%	8.6%	2.7%	9.9%	6.9%
Depreciation & Amortization	1.56B	402.00M	398.00M	371.00M	394.00M	400.00M	396.00M	407.00M	438.00M
EPS Basic	1.66	0.48	0.45	0.63	0.10	0.40	-0.26	0.45	0.11
EPS Diluted	1.63	0.47	0.45	0.61	0.10	0.39	-0.26	0.42	0.11
Shares Outstanding	494.00M	494.00M	498.00M	516.00M	523.00M	538.00M	584.00M	595.00M	599.00M
Diluted Shares Outstanding	498.00M	498.00M	503.00M	521.00M	526.00M	541.00M	584.00M	641.00M	601.00M

Annual Income Statement (USD)

Swipe horizontally to review earlier years. The line-item column stays pinned.

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	28.06B	27.48B	26.09B	23.81B	15.79B	9.05B	22.43B	21.96B
Cost of Goods Sold	23.17B	23.02B	21.87B	19.06B	11.68B	10.94B	16.45B	15.91B
Gross Profit	4.89B	4.46B	4.22B	4.75B	4.12B	-1.89B	5.98B	6.06B
Gross Profit Margin	17.4%	16.2%	16.2%	20.0%	26.1%	-20.9%	26.7%	27.6%
Total Operating Expenses	4.47B	4.14B	4.00B	3.73B	2.39B	1.93B	3.03B	2.85B
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	4.47B	346.00M	266.00M	224.00M	185.00M	0.00	0.00	0.00
Operating Income (EBIT)	428.00M	321.00M	224.00M	1.02B	1.72B	-3.82B	2.96B	3.21B
Operating Margin	1.5%	1.2%	0.9%	4.3%	10.9%	-42.2%	13.2%	14.6%
Income Before Tax (EBT)	563.00M	598.00M	633.00M	728.00M	1.32B	-4.26B	2.96B	3.16B
Interest Income	205.00M	497.00M	583.00M	217.00M	13.00M	32.00M	90.00M	69.00M
Interest Expense	113.00M	214.00M	236.00M	301.00M	431.00M	314.00M	82.00M	93.00M
Other Income/Expense	135.00M	277.00M	409.00M	-289.00M	-396.00M	-440.00M	0.00	-42.00M
Net Income	441.00M	465.00M	465.00M	539.00M	977.00M	-3.07B	2.30B	2.46B
Income Tax Expense	122.00M	133.00M	168.00M	189.00M	348.00M	-1.18B	657.00M	699.00M
Net Profit Margin	1.6%	1.7%	1.8%	2.3%	6.2%	-34.0%	10.3%	11.2%
EBITDA	1.99B	1.98B	1.75B	2.37B	2.99B	-2.56B	4.18B	4.41B
EBITDA Margin	7.1%	7.2%	6.7%	9.9%	19.0%	-28.3%	18.6%	20.1%
Depreciation & Amortization	1.56B	1.66B	1.52B	1.35B	1.27B	1.25B	1.22B	1.20B
EPS Basic	0.82	0.81	0.81	0.91	1.65	-5.44	4.28	4.30
EPS Diluted	0.79	0.75	0.76	0.87	1.61	-5.44	4.27	4.29
Shares Outstanding	540.00M	598.00M	595.00M	593.00M	592.00M	565.00M	538.00M	573.00M
Diluted Shares Outstanding	558.00M	643.00M	640.00M	642.00M	609.00M	565.00M	539.00M	574.00M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Southwest Airlines Co.

Southwest Airlines Co. functions as a passenger airline, offering scheduled air travel services predominantly across the United States and to select neighboring international markets. As of December 31, 2021, the company maintained a consistent fleet of 728 Boeing 737 aircraft. Its extensive route network served 121 different locations, spanning 42 U.S. states, the District of Columbia, and the Commonwealth of Puerto Rico, along with 10 international countries close by. These international destinations include Mexico, Jamaica, the Bahamas, Aruba, the Dominican Republic, Costa Rica, Belize, Cuba, the Cayman Islands, and Turks and Caicos. To enhance the passenger journey, Southwest provides in-flight entertainment and internet access on its Wi-Fi-enabled planes. The airline also runs the Rapid Rewards loyalty program, enabling members to accumulate points proportional to the money spent on Southwest's base fares. For customer convenience in travel planning, the company offers a range of digital tools, including its official websites and mobile applications, as well as SWABIZ, a dedicated online booking platform for business clients. Additional services available include EarlyBird Check-In, preferred boarding options, and transportation for pets and unaccompanied minors. The company was founded in 1967 and its corporate headquarters are situated in Dallas, Texas.

Dallas, TX

72,790 employees

www.southwest.com

Industrials / Airlines, Airports & Air Services

Sector: Industrials
Industry: Airlines, Airports & Air Services
CEO: Robert E. Jordan

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