Southwest Airlines Co. (LUV) Earnings History
Annual and quarterly earnings data from 1989 to 2025
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LUV EPS Growth (CAGR)
Compound annual growth rate of diluted earnings per share
CAGR (Compound Annual Growth Rate) shows the annualized growth rate of EPS over the specified period. A higher CAGR indicates stronger earnings momentum.
LUV Profitability Analysis
Margin trends over time
| Year | Gross Margin | Operating Margin | Net Margin |
|---|---|---|---|
| 2025 | 17.4% | 1.5% | 1.6% |
| 2024 | 16.2% | 1.2% | 1.7% |
| 2023 | 16.2% | 0.9% | 1.8% |
| 2022 | 20.0% | 4.3% | 2.3% |
| 2021 | 26.1% | 10.9% | 6.2% |
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Southwest Airlines Co. (LUV) Earnings Overview
As of May 7, 2026, Southwest Airlines Co. (LUV) reported trailing twelve-month net income of $817M, reflecting +5.3% year-over-year growth. The company earned $1.62 per diluted share over the past four quarters, with a net profit margin of 1.6%.
Looking at the long-term picture, LUV's historical earnings data spans multiple years. The company achieved its highest annual net income of $3.49B in fiscal 2017.
Southwest Airlines Co. maintains positive profitability with a gross margin of 17.4%, operating margin of 1.5%, and net margin of 1.6%. The company continues to generate positive earnings from operations. View revenue history →
Compared to peers including DAL ($5.01B net income, 7.9% margin), UAL ($3.67B net income, 5.7% margin), AAL ($202M net income, 0.2% margin), LUV has room to improve margins relative to the peer group. Compare LUV vs DAL →
LUV Earnings vs Peers
Earnings metrics vs comparable public companies
LUV Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $441M | -5.2% | $428M | $0.79 | 1.6% | 1.5% |
| 2024 | $465M | +0.0% | $321M | $0.75 | 1.7% | 1.2% |
| 2023 | $465M | -13.7% | $224M | $0.76 | 1.8% | 0.9% |
| 2022 | $539M | -44.8% | $1.02B | $0.87 | 2.3% | 4.3% |
| 2021 | $977M | +131.8% | $1.72B | $1.61 | 6.2% | 10.9% |
| 2020 | -$3.07B | -233.7% | -$3.82B | $-5.44 | -34.0% | -42.2% |
| 2019 | $2.30B | -6.7% | $2.96B | $4.27 | 10.3% | 13.2% |
| 2018 | $2.46B | -29.3% | $3.21B | $4.29 | 11.2% | 14.6% |
| 2017 | $3.49B | +55.4% | $3.41B | $5.78 | 16.5% | 16.1% |
| 2016 | $2.24B | +2.9% | $3.52B | $3.55 | 11.0% | 17.2% |
Full LUV Stock Analysis
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Start ComparisonLUV — Frequently Asked Questions
Quick answers to the most common questions about buying LUV stock.
Is LUV growing earnings?
LUV EPS stands at $1.62, with +5.3% growth matching the 5-year CAGR of N/A. TTM net income is $817M. Earnings trajectory remains consistent.
What are LUV's profit margins?
Southwest Airlines Co. net margin is +1.6%, with operating margin at +1.5%. Below-average margins reflect competitive or cost pressures.
How consistent are LUV's earnings?
LUV earnings data spans 1989-2025. The current earnings trend is +5.3% YoY. Historical data enables comparison across business cycles.