# Southwest Airlines Co: financial statements, quarterly

LUV · NYSE · CIK 92380 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/luv.md) · [Financials](/companies/luv/financials.md) · [Filings](/companies/luv/filings.md) · [Insiders](/companies/luv/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/luv/financials.md?period=annual).

## Income statement

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [6,823 d](/filings/0000092380-26-000004.md) | [6,329](/filings/0000092380-25-000083.md) | [7,354](/filings/0000092380-25-000134.md) | [6,870](/filings/0000092380-25-000140.md) | [6,930 d](/filings/0000092380-26-000004.md) | [6,428](/filings/0000092380-26-000047.md) | [7,244](/filings/0000092380-26-000077.md) | [6,949](/filings/0000092380-26-000107.md) | [7,442 d](/filings/0000092380-26-000004.md) | [7,249](/filings/0000092380-26-000047.md) | [8,432](/filings/0000092380-26-000077.md) | [8,422](/filings/0000092380-26-000107.md) |
| Operating income | $m | [(404) d](/filings/0000092380-26-000004.md) | [(393)](/filings/0000092380-25-000083.md) | [398](/filings/0000092380-25-000134.md) | [38.0](/filings/0000092380-25-000140.md) | [278 d](/filings/0000092380-26-000004.md) | [(223)](/filings/0000092380-26-000047.md) | [225](/filings/0000092380-26-000077.md) | [35.0](/filings/0000092380-26-000107.md) | [391 d](/filings/0000092380-26-000004.md) | [330](/filings/0000092380-26-000047.md) | [285](/filings/0000092380-26-000077.md) | [379](/filings/0000092380-26-000107.md) |
| Interest expense | $m | [66.0 d](/filings/0000092380-26-000004.md) | [65.0](/filings/0000092380-25-000083.md) | [63.0](/filings/0000092380-25-000134.md) | [63.0](/filings/0000092380-25-000140.md) | [58.0 d](/filings/0000092380-26-000004.md) | [46.0](/filings/0000092380-26-000047.md) | [39.0](/filings/0000092380-26-000077.md) | [35.0](/filings/0000092380-26-000107.md) | [47.0 d](/filings/0000092380-26-000004.md) | [54.0](/filings/0000092380-26-000047.md) | [64.0](/filings/0000092380-26-000077.md) | [70.0](/filings/0000092380-26-000107.md) |
| Income tax | $m | [(34.0) d](/filings/0000092380-26-000004.md) | [(67.0)](/filings/0000092380-25-000083.md) | [111](/filings/0000092380-25-000134.md) | [22.0](/filings/0000092380-25-000140.md) | [68.0 d](/filings/0000092380-26-000004.md) | [(43.0)](/filings/0000092380-26-000047.md) | [67.0](/filings/0000092380-26-000077.md) | [14.0](/filings/0000092380-26-000107.md) | [85.0 d](/filings/0000092380-26-000004.md) | [58.0](/filings/0000092380-26-000047.md) | [73.0](/filings/0000092380-26-000077.md) | [85.0](/filings/0000092380-26-000107.md) |
| Net income | $m | [(252) d](/filings/0000092380-26-000004.md) | [(231)](/filings/0000092380-25-000083.md) | [367](/filings/0000092380-25-000134.md) | [67.0](/filings/0000092380-25-000140.md) | [261 d](/filings/0000092380-26-000004.md) | [(149)](/filings/0000092380-26-000047.md) | [213](/filings/0000092380-26-000077.md) | [54.0](/filings/0000092380-26-000107.md) | [323 d](/filings/0000092380-26-000004.md) | [227](/filings/0000092380-26-000047.md) | [233](/filings/0000092380-26-000077.md) | [270](/filings/0000092380-26-000107.md) |
| Diluted EPS | $ per share | not reported | [(0.39)](/filings/0000092380-25-000083.md) | [0.58](/filings/0000092380-25-000134.md) | [0.11](/filings/0000092380-25-000140.md) | not reported | [(0.26)](/filings/0000092380-26-000047.md) | [0.39](/filings/0000092380-26-000077.md) | [0.10](/filings/0000092380-26-000107.md) | not reported | [0.45](/filings/0000092380-26-000047.md) | [0.47](/filings/0000092380-26-000077.md) | [0.55](/filings/0000092380-26-000107.md) |
| Basic EPS | $ per share | not reported | [(0.39)](/filings/0000092380-25-000083.md) | [0.61](/filings/0000092380-25-000134.md) | [0.11](/filings/0000092380-25-000140.md) | not reported | [(0.26)](/filings/0000092380-26-000047.md) | [0.40](/filings/0000092380-26-000077.md) | [0.10](/filings/0000092380-26-000107.md) | not reported | [0.45](/filings/0000092380-26-000047.md) | [0.48](/filings/0000092380-26-000077.md) | [0.55](/filings/0000092380-26-000107.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $bn | [9.3](/filings/0000092380-25-000024.md) | [8.4](/filings/0000092380-24-000055.md) | [8.1](/filings/0000092380-24-000111.md) | [8.5](/filings/0000092380-24-000147.md) | [7.5](/filings/0000092380-26-000004.md) | [8.1](/filings/0000092380-25-000083.md) | [3.5](/filings/0000092380-25-000134.md) | [2.9](/filings/0000092380-25-000140.md) | [3.2](/filings/0000092380-26-000107.md) | [3.3](/filings/0000092380-26-000047.md) | [3.8](/filings/0000092380-26-000077.md) | [3.6](/filings/0000092380-26-000107.md) |
| Current assets | $bn | [14.0](/filings/0000092380-25-000024.md) | [13.3](/filings/0000092380-24-000055.md) | [12.8](/filings/0000092380-24-000111.md) | [11.9](/filings/0000092380-24-000147.md) | [11.3](/filings/0000092380-26-000004.md) | [10.7](/filings/0000092380-25-000083.md) | [6.1](/filings/0000092380-25-000134.md) | [5.4](/filings/0000092380-25-000140.md) | [5.6](/filings/0000092380-26-000107.md) | [6.0](/filings/0000092380-26-000047.md) | [6.5](/filings/0000092380-26-000077.md) | [6.5](/filings/0000092380-26-000107.md) |
| Total assets | $bn | [36.5](/filings/0000092380-25-000024.md) | [36.0](/filings/0000092380-24-000055.md) | [35.6](/filings/0000092380-24-000111.md) | [34.8](/filings/0000092380-24-000147.md) | [33.8](/filings/0000092380-26-000004.md) | [33.2](/filings/0000092380-25-000083.md) | [28.7](/filings/0000092380-25-000134.md) | [28.3](/filings/0000092380-25-000140.md) | [29.1](/filings/0000092380-26-000107.md) | [29.4](/filings/0000092380-26-000047.md) | [30.1](/filings/0000092380-26-000077.md) | [30.5](/filings/0000092380-26-000107.md) |
| Current liabilities | $bn | [12.3](/filings/0000092380-25-000024.md) | [12.2](/filings/0000092380-24-000055.md) | [14.1](/filings/0000092380-24-000111.md) | [13.5](/filings/0000092380-24-000147.md) | [12.3](/filings/0000092380-26-000004.md) | [13.9](/filings/0000092380-25-000083.md) | [10.9](/filings/0000092380-25-000134.md) | [11.0](/filings/0000092380-25-000140.md) | [10.9](/filings/0000092380-26-000107.md) | [12.5](/filings/0000092380-26-000047.md) | [13.3](/filings/0000092380-26-000077.md) | [13.7](/filings/0000092380-26-000107.md) |
| Long-term debt | $bn | [8.0](/filings/0000092380-24-000027.md) | not reported | not reported | not reported | [6.7](/filings/0000092380-25-000024.md) | not reported | not reported | not reported | [4.9](/filings/0000092380-26-000004.md) | not reported | not reported | not reported |
| Current portion of debt | $bn | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $bn | [10.5](/filings/0000092380-26-000004.md) | [10.2](/filings/0000092380-25-000140.md) | [10.5](/filings/0000092380-25-000140.md) | [10.4](/filings/0000092380-25-000140.md) | [10.4](/filings/0000092380-26-000107.md) | [9.4](/filings/0000092380-26-000107.md) | [8.0](/filings/0000092380-26-000107.md) | [7.8](/filings/0000092380-26-000107.md) | [8.0](/filings/0000092380-26-000107.md) | [6.9](/filings/0000092380-26-000107.md) | [7.1](/filings/0000092380-26-000107.md) | [7.3](/filings/0000092380-26-000107.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Long-term debt: us-gaap:LongTermDebt
- Current portion of debt: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [425 d](/filings/0000092380-26-000004.md) | [(104)](/filings/0000092380-25-000083.md) | [(23.0)](/filings/0000092380-25-000134.md) | [113](/filings/0000092380-25-000140.md) | [476 d](/filings/0000092380-26-000004.md) | [860](/filings/0000092380-26-000047.md) | [401](/filings/0000092380-26-000077.md) | [287](/filings/0000092380-26-000107.md) | [295 d](/filings/0000092380-26-000004.md) | [1,418](/filings/0000092380-26-000047.md) | [530](/filings/0000092380-26-000077.md) | [513](/filings/0000092380-26-000107.md) |
| Capital expenditure | $m | [708 d](/filings/0000092380-26-000004.md) | [583](/filings/0000092380-25-000083.md) | [494](/filings/0000092380-25-000134.md) | [517](/filings/0000092380-25-000140.md) | [460 d](/filings/0000092380-26-000004.md) | [527](/filings/0000092380-26-000047.md) | [660](/filings/0000092380-26-000077.md) | [735](/filings/0000092380-26-000107.md) | [751 d](/filings/0000092380-26-000004.md) | [630](/filings/0000092380-26-000047.md) | [818](/filings/0000092380-26-000077.md) | [1,006](/filings/0000092380-26-000107.md) |
| Dividends paid | $m | [0.0 d](/filings/0000092380-26-000004.md) | [215](/filings/0000092380-25-000083.md) | [0.0](/filings/0000092380-25-000134.md) | [216](/filings/0000092380-25-000140.md) | [(1.0) d](/filings/0000092380-26-000004.md) | [107](/filings/0000092380-26-000047.md) | [103](/filings/0000092380-26-000077.md) | [189](/filings/0000092380-26-000107.md) | [0.0 d](/filings/0000092380-26-000004.md) | [93.0](/filings/0000092380-26-000047.md) | [88.0](/filings/0000092380-26-000077.md) | [176](/filings/0000092380-26-000107.md) |
| Share repurchases | $m | not reported | [0.0](/filings/0000092380-25-000083.md) | [0.0](/filings/0000092380-25-000134.md) | [0.0](/filings/0000092380-25-000140.md) | [250](/filings/0000092380-25-000024.md) | [750](/filings/0000092380-26-000047.md) | [1,500](/filings/0000092380-26-000077.md) | [250](/filings/0000092380-26-000107.md) | [50.0 d](/filings/0000092380-26-000004.md) | [1,250](/filings/0000092380-26-000047.md) | [0.0](/filings/0000092380-26-000077.md) | [0.0](/filings/0000092380-26-000107.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquireProductiveAssets
- Dividends paid: us-gaap:PaymentsOfDividends
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [594](/filings/0000092380-24-000055.md) | [639](/filings/0000092380-24-000111.md) | [640](/filings/0000092380-24-000147.md) | [597](/filings/0000092380-25-000083.md) | [643](/filings/0000092380-25-000134.md) | [601](/filings/0000092380-25-000140.md) | [584](/filings/0000092380-26-000047.md) | [541](/filings/0000092380-26-000077.md) | [526](/filings/0000092380-26-000107.md) | [503](/filings/0000092380-26-000047.md) | [493](/filings/0000092380-26-000077.md) | [494](/filings/0000092380-26-000107.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 489,602,380 at 2026-10-21, from the cover of the [10-Q filed 2026-10-22](/filings/0000092380-26-000107.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:20 ET. No prices; not investment advice.