The financials
Southwest Airlines by the numbers
Southwest Airlines (LUV) reported revenue of $8.43B in Q2 2026 (quarter ended Jun 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 Q2 2026 was Passenger Revenue Non Loyalty at $6.10B, 73% of the disclosed total, well ahead of Passenger Ancillary Sold Separately at 10%.
| 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 | $6.10B | 73% |
| Passenger Ancillary Sold Separately | $875M | 10% |
| Passenger Loyalty Air Transportation | $766M | 9.1% |
| Product And Service Other Loyalty Program | $578M | 6.9% |
| Product And Service Other Other Miscellaneous | $59M | 0.7% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $8.38B (+16%)
Passenger Ancillary Sold Separately grew +183% year on yearPassenger Loyalty Air Transportation -12% year on year
Segment Latestquarter on quarteryear on year
- Passenger Revenue Non Loyalty$6.10B$6.10BQoQ +18%year on year +12%+18%+12%
- Passenger Ancillary Sold Separately$875.0M$875.0MQoQ +22%year on year +183%+22%+183%
- Passenger Loyalty Air Transportation$766.0M$766.0MQoQ +11%year on year -12%+11%-12%
- Product And Service Other Loyalty Program$578.0M$578.0MQoQ +3.8%year on year +7.8%+3.8%+7.8%
- Product And Service Other Other Miscellaneous$59.0M$59.0MQoQ +3.5%year on year +59%+3.5%+59%
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