The financials
Southwest Airlines by the numbers
Southwest Airlines (LUV) reported revenue of $8.43B in Q2 2026 (quarter ended June 30, 2026), up 16% from the same quarter a year earlier. That came with net income of $233M (2.8% of revenue). For the full year FY2025, revenue was $28.1B (+2.1% year on year) and net income $441M. Its largest product in 2026-Q1 was Passenger Revenue Non Loyalty at $5.19B, 66% of the disclosed total, just ahead of Passenger Ancillary Sold Separately at 9.1%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $8.43B | $7.24B | +16% |
| Operating income | $285M | $225M | +27% |
| Net income | $233M | $213M | +9.4% |
| Diluted EPS | $0.47 | $0.39 | +21% |
| Product | Revenue | Share |
|---|---|---|
| Passenger Revenue Non Loyalty | $5.19B | 66% |
| Passenger Ancillary Sold Separately | $715M | 9.1% |
| Passenger Loyalty Air Transportation | $688M | 8.7% |
| Product And Service Other | $614M | 7.8% |
| Product And Service Other Loyalty Program | $557M | 7.1% |
| Product And Service Other Other Miscellaneous | $57M | 0.7% |
| Cargo And Freight | $44M | 0.6% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $7.86B (+13%)
Passenger Ancillary Sold Separately grew +192% year on yearPassenger Loyalty Air Transportation -14% year on year
Segment Latestquarter on quarteryear on year
- Passenger Revenue Non Loyalty$5.19B$5.19BQoQ +6.0%year on year +8.9%+6.0%+8.9%
- Passenger Ancillary Sold Separately$715.0M$715.0MQoQ +17%year on year +192%+17%+192%
- Passenger Loyalty Air Transportation$688.0M$688.0MQoQ -15%year on year -14%-15%-14%
- Product And Service Other$614.0M$614.0MQoQ +3.4%year on year +6.6%+3.4%+6.6%
- Product And Service Other Loyalty Program$557.0M$557.0MQoQ -year on year +2.4%-+2.4%
- Product And Service Other Other Miscellaneous$57.0M$57.0MQoQ -year on year +78%-+78%
- Cargo And Freight$44.0M$44.0MQoQ +4.8%year on year +7.3%+4.8%+7.3%