Southwest Airlines Co. (LUV) Quarterly Income Statement

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Southwest Airlines Co. (LUV) quarterly income statement — complete revenue, gross profit & net income history

Quarterly statement

LUV Income Statement

Southwest Airlines Co. (LUV) annual income statement — 30-year revenue, gross profit & net income history

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21

Sales/Revenue	8.42B	8.43B	7.25B	7.44B	6.95B	7.24B	6.43B	6.93B	6.87B	7.35B	6.33B	6.82B	6.53B	7.04B	5.71B	6.17B	6.22B	6.73B	4.69B	5.05B
Revenue Growth %	21.2%	16.41%	12.77%	7.39%	1.15%	-1.5%	1.56%	1.57%	5.29%	4.5%	10.92%	10.55%	4.9%	4.59%	21.56%	22.19%	32.93%	67.86%	128.75%	150.92%
Cost of Goods Sold	8.04B	-6.52B	6.52B	5.93B	5.79B	5.89B	5.56B	5.7B	5.75B	5.86B	5.7B	6.1B	5.45B	5.29B	5.04B	5.17B	5.01B	4.78B	4.11B	4.17B
COGS % of Revenue	95.5%	-77.33%	89.96%	79.7%	83.34%	81.25%	86.51%	82.28%	83.74%	79.73%	90.12%	89.34%	83.52%	75.12%	88.29%	83.68%	80.48%	71.03%	87.64%	82.6%
Gross Profit	379M	14.95B	728M	1.51B	1.16B	1.36B	867M	1.23B	1.12B	1.49B	625M	727M	1.07B	1.75B	668M	1.01B	1.21B	1.95B	580M	879M
Gross Margin %	4.5%	177.33%	10.04%	20.3%	16.66%	18.75%	13.49%	17.72%	16.26%	20.27%	9.88%	10.66%	16.48%	24.88%	11.71%	16.32%	19.52%	28.97%	12.36%	17.4%
Gross Profit Growth %	-67.27%	1001.18%	-16.03%	23.05%	3.67%	-8.92%	38.72%	68.91%	3.91%	-14.85%	-6.44%	-27.81%	-11.45%	-10.16%	15.17%	14.56%	-12.97%	65.17%	-12.39%	235.86%
Operating Expenses	0	14.67B	398M	1.12B	1.12B	1.13B	1.09B	950M	1.08B	1.09B	1.02B	1.13B	958M	956M	952M	1.39B	819M	791M	731M	684M
OpEx % of Revenue	-	173.95%	5.49%	15.05%	16.16%	15.64%	16.96%	13.71%	15.71%	14.86%	16.08%	16.58%	14.68%	13.59%	16.68%	22.55%	13.17%	11.76%	15.57%	13.54%
Selling, General & Admin	0	0	0	1.12B	1.12B	0	0	346M	0	0	0	0	0	0	0	0	0	0	0	0
SG&A % of Revenue	-	-	-	15.05%	16.16%	-	-	4.99%	-	-	-	-	-	-	-	-	-	-	-	-
Research & Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	1000K	1000K	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Operating Income	379M	285M	330M	391M	35M	225M	-223M	278M	38M	398M	-393M	-404M	117M	795M	-284M	-385M	395M	1.16B	-151M	195M
Operating Margin %	4.5%	3.38%	4.55%	5.25%	0.5%	3.11%	-3.47%	4.01%	0.55%	5.41%	-6.21%	-5.92%	1.79%	11.3%	-4.98%	-6.24%	6.35%	17.21%	-3.22%	3.86%
Operating Income Growth %	982.86%	26.67%	247.98%	40.65%	-7.89%	-43.47%	43.26%	168.81%	-67.52%	-49.94%	-38.38%	-4.94%	-70.38%	-31.35%	-88.08%	-297.44%	-46.11%	94.95%	-175.88%	116.7%
EBITDA	777M	687M	728M	762M	429M	625M	173M	685M	476M	802M	15M	11M	492M	1.16B	81M	-18M	730M	1.48B	173M	518M
EBITDA Margin %	9.23%	8.15%	10.04%	10.24%	6.17%	8.63%	2.69%	9.88%	6.93%	10.91%	0.24%	0.16%	7.54%	16.51%	1.42%	-0.29%	11.74%	22.04%	3.69%	10.26%
EBITDA Growth %	81.12%	9.92%	320.81%	11.24%	-9.87%	-22.07%	1053.33%	6127.27%	-3.25%	-30.98%	-81.48%	161.11%	-32.6%	-21.65%	-53.18%	-103.47%	-30.81%	63.15%	-66.14%	160.73%
D&A (Non-Cash Add-back)	398M	402M	398M	371M	394M	400M	396M	407M	438M	404M	408M	415M	375M	367M	365M	367M	335M	325M	324M	323M
EBIT	412M	288M	327M	438M	90M	306M	-157M	376M	143M	533M	-240M	-228M	296M	946M	-145M	-225M	428M	1.12B	-292M	192M
Net Interest Income	-24M	-156M	-19M	2M	12M	28M	49M	58M	67M	75M	83M	100M	97M	84M	65M	56M	-5M	-54M	-81M	-108M
Interest Income	33M	-80M	23M	33M	34M	54M	84M	105M	121M	130M	141M	158M	156M	144M	125M	116M	70M	28M	3M	7M
Interest Expense	57M	76M	42M	31M	22M	26M	35M	47M	54M	55M	58M	58M	59M	60M	60M	60M	75M	82M	84M	115M
Other Income/Expense	-24M	22M	-45M	16M	33M	55M	31M	51M	51M	80M	95M	118M	120M	91M	79M	100M	-42M	-122M	-225M	-118M
Pretax Income	355M	307M	285M	407M	68M	280M	-192M	329M	89M	478M	-298M	-286M	237M	886M	-205M	-285M	353M	1.04B	-376M	77M
Pretax Margin %	4.22%	3.64%	3.93%	5.47%	0.98%	3.87%	-2.99%	4.75%	1.3%	6.5%	-4.71%	-4.19%	3.63%	12.59%	-3.59%	-4.62%	5.68%	15.4%	-8.01%	1.52%
Income Tax	85M	74M	58M	84M	14M	67M	-43M	68M	22M	111M	-67M	-34M	44M	203M	-46M	-65M	76M	276M	-98M	9M
Effective Tax Rate %	23.94%	24.1%	20.35%	20.64%	20.59%	23.93%	22.4%	20.67%	24.72%	23.22%	22.48%	11.89%	18.57%	22.91%	22.44%	22.81%	21.53%	26.64%	26.06%	11.69%
Net Income	270M	233M	227M	323M	54M	213M	-149M	261M	67M	367M	-231M	-252M	193M	683M	-159M	-220M	277M	760M	-278M	68M
Net Margin %	3.21%	2.76%	3.13%	4.34%	0.78%	2.94%	-2.32%	3.77%	0.98%	4.99%	-3.65%	-3.69%	2.96%	9.71%	-2.79%	-3.56%	4.45%	11.3%	-5.92%	1.35%
Net Income Growth %	400%	9.39%	252.35%	23.75%	-19.4%	-41.96%	35.5%	203.57%	-65.29%	-46.27%	-45.28%	-14.55%	-30.32%	-10.13%	42.81%	-423.53%	-37.89%	118.39%	-339.66%	107.49%
Net Income (Continuing)	270M	233M	227M	323M	54M	213M	-149M	261M	67M	367M	-231M	-252M	193M	683M	-159M	-220M	277M	760M	-278M	68M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	0.55	0.47	0.45	0.61	0.10	0.39	-0.26	0.42	0.11	0.58	-0.39	-0.37	0.30	1.07	-0.27	-0.37	0.43	1.20	-0.47	0.11
EPS Growth %	450%	20.51%	273.08%	45.24%	-9.09%	-32.76%	33.33%	213.51%	-63.33%	-45.79%	-44.44%	0%	-30.23%	-10.83%	42.55%	-436.36%	-41.1%	110.53%	-347.37%	107.14%
EPS (Basic)	0.55	0.48	0.45	0.63	0.10	0.40	-0.26	0.45	0.11	0.62	-0.39	-0.37	0.32	1.15	-0.27	-0.37	0.44	1.20	-0.47	0.11
Diluted Shares Outstanding	494M	498M	503M	521M	526M	541M	584M	641M	601M	643M	597M	596M	640M	639M	594M	594M	639M	635M	592M	603M
Basic Shares Outstanding	489M	494M	498M	516M	523M	538M	584M	595M	599M	599M	597M	596M	596M	595M	594M	594M	627.67M	631.68M	591.49M	592M
Dividend Payout Ratio	65.19%	37.77%	40.97%	-	350%	48.36%	-	0.38%	322.39%	-	-	-	110.88%	-	-	-	-	-	-	-