# Southwest Airlines (LUV) — Earnings

LUV · NYSE · Stock

Canonical page: https://www.lighthorse.io/tickers/luv/earnings

## Most recent quarter

| Metric | Value |
| --- | --- |
| Fiscal period | Q2 2026 |
| Period end | Jun 30, 2026 |
| EPS actual | $0.94 |
| EPS estimate | $0.51 |
| EPS surprise | +84.39% |
| Revenue surprise | −1.77% |
| Revenue | $8.4B |
| Revenue estimate | $8.6B |
| Reported | Jul 22, 2026 |
| SEC filing | [View filing](https://www.sec.gov:443/Archives/edgar/data/92380/000009238026000077/luv-20260630.htm) |
| Earnings call | [Transcript](http://o.thsi.cn/dc-d-stock-america.teleconference/0326b3a9-f15a-0e51-41bd-5e21be7a9bbe.html) |

Southwest Airlines reported Q2 2026 results on July 22, 2026. Earnings per share came in at $0.94, ahead of the $0.51 estimate by 84.39%. Revenue was $8.4 billion, 1.77% below the $8.6 billion consensus. Compared with Q2 2025, EPS more than doubled from $0.43 and revenue rose about 17% from $7.2 billion.

The table shows a strong seasonal pattern. Southwest posted a loss in Q1 of 2022, 2023, 2024 and 2025, while Q2 has been its strongest quarter in most years. Q1 2026 broke that run, with a profit of $0.45 per share. The largest loss in the table was Q4 2022, at $0.38 per share. Annual EPS was $1.10 in 2022, $1.57 in 2023, $0.93 in 2024 and $0.99 in 2025. Revenue rose every year, from $23.8 billion in 2022 to $27.9 billion in 2025. The first half of 2026 adds up to $1.39 per share, against $0.30 a year earlier. Q2 2026 set the revenue high in the table. Over the last 20 quarters, Southwest beat the EPS estimate 13 times.

Southwest reported Q3 between October 21 and October 27 in each of the past five years. That points to late October 2026 for the next report.

## Earnings history

| Fiscal period | Report date | EPS estimate | EPS actual | Surprise | Revenue estimate | Revenue actual |
| --- | --- | --- | --- | --- | --- | --- |
| Q2 2026 | Jul 22, 2026 | $0.51 | $0.94 | 84.39% | $8.6B | $8.4B |
| Q1 2026 | Apr 22, 2026 | $0.47 | $0.45 | -3.85% | $7.3B | $7.2B |
| Q4 2025 | Jan 28, 2026 | $0.57 | $0.58 | 2.06% | $7.5B | $7.4B |
| Q3 2025 | Oct 22, 2025 | −$0.04 | $0.11 | 398.91% | $6.9B | $6.9B |
| Q2 2025 | Jul 23, 2025 | $0.51 | $0.43 | -15.93% | $7.3B | $7.2B |
| Q1 2025 | Apr 23, 2025 | −$0.18 | −$0.13 | 29.19% | $6.4B | $6.4B |
| Q4 2024 | Jan 30, 2025 | $0.46 | $0.56 | 21.32% | $7.0B | $6.9B |
| Q3 2024 | Oct 24, 2024 | $0.05 | $0.15 | 214.47% | $6.8B | $6.9B |
| Q2 2024 | Jul 25, 2024 | $0.52 | $0.58 | 12.38% | $7.3B | $7.4B |
| Q1 2024 | Apr 25, 2024 | −$0.34 | −$0.36 | -7.05% | $6.4B | $6.3B |
| Q4 2023 | Jan 25, 2024 | $0.12 | $0.37 | 197.19% | $6.7B | $6.8B |
| Q3 2023 | Oct 26, 2023 | $0.38 | $0.38 | 0.50% | $6.6B | $6.5B |
| Q2 2023 | Jul 27, 2023 | $1.09 | $1.09 | -0.30% | $7.0B | $7.0B |
| Q1 2023 | Apr 27, 2023 | −$0.23 | −$0.27 | -16.43% | $5.7B | $5.7B |
| Q4 2022 | Jan 26, 2023 | −$0.07 | −$0.38 | -444.41% | $6.2B | $6.2B |
| Q3 2022 | Oct 27, 2022 | $0.41 | $0.50 | 20.66% | $6.2B | $6.2B |
| Q2 2022 | Jul 28, 2022 | $1.17 | $1.30 | 11.04% | $6.7B | $6.7B |
| Q1 2022 | Apr 28, 2022 | −$0.30 | −$0.32 | -5.09% | $4.7B | $4.7B |
| Q4 2021 | Jan 27, 2022 | $0.07 | $0.14 | 96.08% | $5.0B | $5.1B |
| Q3 2021 | Oct 21, 2021 | −$0.27 | −$0.23 | 15.81% | $4.6B | $4.7B |

## Frequently Asked Questions

### When did Southwest Airlines (LUV) last report earnings?

Southwest Airlines last reported on Jul 22, 2026, covering fiscal Q2 2026.

### Did LUV beat earnings estimates?

Yes. Southwest Airlines reported EPS of $0.94 for Q2 2026 against a $0.51 estimate — a 84.39% beat.

### How much revenue did LUV report last quarter?

Southwest Airlines reported $8.4B in revenue for Q2 2026, against a consensus estimate of $8.6B.

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Earnings figures may be restated, revised or corrected by the issuer. Past results do not indicate future performance.

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