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.

• For the quarter ending Q2 2026, Cost of Revenue fell 2.82% year-over-year to $1.1 billion; the trailing twelve-month figure through Jun 2026 stood at $4.4 billion (up 3.06% YoY), and the FY2025 full-year result was $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.
• Across five years, Cost of Revenue topped out at $1.4 billion in Q4 2022 and bottomed at $731.0 million in Q1 2022.
• Historically, Cost of Revenue has averaged $1.0 billion across 5 years, with a median of $1.1 billion in 2024.
• The sharpest annual moves came in 2022 and 2023: Cost of Revenue soared 103.51% in 2022, then dropped 18.75% in 2023.
• Over 5 years, Cost of Revenue stood at $1.4 billion in 2022, then decreased by 18.75% to $1.1 billion in 2023, then slipped by 16.0% to $950.0 million in 2024, then grew by 18.0% to $1.1 billion in 2025, then dropped 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.