Southwest Airlines (LUV) Cost of Revenue (2009 - 2026)

Southwest Airlines (LUV) has reported Cost of Revenue for 18 consecutive years, with $1.1 billion the latest figure, recorded in Q2 2026.

• Quarterly Cost of Revenue fell 2.82% year-over-year to $1.1 billion in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $4.4 billion (up 3.06% YoY) and the FY2025 annual result came in at $4.5 billion, up 7.95% from the prior year.
• Cost of Revenue improved to $1.1 billion in Q2 2026 per LUV's latest filing, from $1.0 billion in the prior quarter.
• Over the last five years, Cost of Revenue for LUV reached as high as $1.4 billion in Q4 2022 and fell as low as $731.0 million in Q1 2022.
• A 5-year average of $1.0 billion and a median of $1.1 billion in 2024 frame the typical range for Cost of Revenue.
• Annual changes were most pronounced in 2022 — Cost of Revenue soared 103.51% — and 2023, when it dropped 18.75%.
• Year by year, Cost of Revenue stood at $1.4 billion in 2022, then slipped by 18.75% to $1.1 billion in 2023, then dropped by 16.0% to $950.0 million in 2024, then increased by 18.0% to $1.1 billion in 2025, then declined by 1.78% to $1.1 billion in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $1.1 billion, $1.0 billion, and $1.1 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.