Southwest Airlines Co. (LUV) Earnings History
Profitable37 years of earnings data (1989–2025) · Positive TTM net income
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Southwest Airlines Co. (LUV) Earnings Overview
As of June 21, 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
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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% |
| 2015 | $2.18B | +92.0% | $4.12B | $3.26 | 11.0% | 20.8% |
| 2014 | $1.14B | +50.7% | $2.23B | $1.63 | 6.1% | 12.0% |
| 2013 | $754M | +79.1% | $1.28B | $1.05 | 4.3% | 7.2% |
| 2012 | $421M | +136.5% | $623M | $0.56 | 2.5% | 3.6% |
| 2011 | $178M | -61.2% | $693M | $0.23 | 1.1% | 4.4% |
| 2010 | $459M | +363.6% | $988M | $0.61 | 3.8% | 8.2% |
| 2009 | $99M | -44.4% | $262M | $0.13 | 1.0% | 2.5% |
| 2008 | $178M | -72.4% | $449M | $0.24 | 1.6% | 4.1% |
| 2007 | $645M | +29.3% | $791M | $0.84 | 6.5% | 8.0% |
| 2006 | $499M | -8.9% | $934M | $0.61 | 5.5% | 10.3% |
| 2005 | $548M | +75.1% | $725M | $0.68 | 7.2% | 9.6% |
| 2004 | $313M | -29.2% | $554M | $0.38 | 4.8% | 8.5% |
| 2003 | $442M | +83.4% | $379M | $0.55 | 7.4% | 6.4% |
| 2002 | $241M | -52.9% | $341M | $0.24 | 4.4% | 6.2% |
| 2001 | $511M | -15.2% | $631M | $0.63 | 9.2% | 11.4% |
| 2000 | $603M | +27.1% | $1.02B | $0.76 | 10.7% | 18.1% |
| 1999 | $474M | +9.4% | $782M | $0.59 | 10.0% | 16.5% |
| 1998 | $433M | +36.4% | $684M | $0.55 | 10.4% | 16.4% |
| 1997 | $318M | +53.3% | $524M | $0.41 | 8.3% | 13.7% |
| 1996 | $207M | +13.5% | $351M | $0.27 | 6.1% | 10.3% |
| 1995 | $183M | +1.8% | $314M | $0.25 | 6.4% | 10.9% |
| 1994 | $179M | +5.7% | $317M | $0.24 | 6.9% | 12.2% |
| 1993 | $170M | +63.9% | $292M | $0.23 | 7.4% | 12.7% |
| 1992 | $104M | +284.8% | $183M | $0.15 | 6.1% | 10.8% |
| 1991 | $27M | -42.9% | $63M | $0.04 | 2.0% | 4.8% |
| 1990 | $47M | -34.2% | $82M | $0.07 | 4.0% | 6.9% |
| 1989 | $72M | - | $98M | $0.10 | 7.1% | 9.6% |
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LUV — Frequently Asked Questions
Quick answers to the most common questions about buying LUV stock.
What is LUV earnings per share (EPS)?
LUV trailing twelve-month (TTM) diluted EPS is $1.62, reflecting +5.3% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 1989 to 2025 is available in the table on this page.
What is Southwest Airlines Co.'s net income?
Southwest Airlines Co. (LUV) trailing twelve-month net income is $817M as of 2025. Earnings grew +5.3% year-over-year. Southwest Airlines Co. has been profitable for 5 consecutive years.
Is LUV profitable?
Yes, LUV is profitable with a TTM net income of $817M and a net profit margin of +1.6%. Southwest Airlines Co. has generated profits for 5 consecutive years.
What is LUV's earnings growth rate?
LUV compound annual EPS growth rates (CAGR): 1-Year: +5.3%, 3-Year: -3.2%, 5-Year: N/A, 10-Year: -13.2%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1989 to 2025.
What are LUV's profit margins?
Southwest Airlines Co. net profit margin is +1.6%, operating margin is +1.5%, and gross margin is +17.4%. Below-average margins reflect competitive or cost pressures. Return on Equity is +4.8%.
Is LUV growing earnings?
LUV is growing earnings steadily. YoY EPS growth of +5.3% is consistent with the 5-year CAGR of N/A. TTM net income is $817M.
What was LUV's best earnings year?
Southwest Airlines Co.'s highest annual net income on record is $3.5B, achieved in fiscal year 2017. Earnings history on this page spans 1989 to 2025 and includes all annual and quarterly figures.
What were LUV's earnings last quarter?
LUV's most recent reported quarter was Q1 2026. Net income was $227M with diluted EPS of $0.45. For a full breakdown of all quarters, see the quarterly earnings table on this page.