Southwest Airlines (LUV) Operating Expenses (2009 - 2026)

Southwest Airlines (LUV) has reported Operating Expenses for 18 consecutive years, with $8.1 billion the latest figure, recorded in Q2 2026.

• Quarterly Operating Expenses rose 16.07% year-over-year to $8.1 billion in Q2 2026, while the trailing twelve-month figure through Jun 2026 was $29.0 billion (up 6.91% YoY) and the FY2025 annual result came in at $27.6 billion, up 1.74% from the prior year.
• Operating Expenses grew to $8.1 billion in Q2 2026 per LUV's latest filing, from $6.9 billion in the prior quarter.
• Over the last five years, Operating Expenses for LUV reached as high as $8.1 billion in Q2 2026 and fell as low as $4.8 billion in Q1 2022.
• A 5-year average of $6.6 billion and a median of $6.7 billion in 2024 frame the typical range for Operating Expenses.
• Annual changes were most pronounced in 2022 — Operating Expenses soared 161.47% — and 2024, when it dropped 7.96%.
• Year by year, Operating Expenses stood at $6.6 billion in 2022, then advanced by 10.22% to $7.2 billion in 2023, then retreated by 7.96% to $6.7 billion in 2024, then grew by 6.0% to $7.1 billion in 2025, then increased by 15.54% to $8.1 billion in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered $8.1 billion, $6.9 billion, and $7.1 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.