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.

• For the quarter ending Q2 2026, Operating Expenses rose 16.07% year-over-year to $8.1 billion; the trailing twelve-month figure through Jun 2026 stood at $29.0 billion (up 6.91% YoY), and the FY2025 full-year result was $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.
• Across five years, Operating Expenses topped out at $8.1 billion in Q2 2026 and bottomed at $4.8 billion in Q1 2022.
• Historically, Operating Expenses has averaged $6.6 billion across 5 years, with a median of $6.7 billion in 2024.
• The sharpest annual moves came in 2022 and 2024: Operating Expenses soared 161.47% in 2022, then dropped 7.96% in 2024.
• Over 5 years, Operating Expenses stood at $6.6 billion in 2022, then gained by 10.22% to $7.2 billion in 2023, then fell by 7.96% to $6.7 billion in 2024, then climbed by 6.0% to $7.1 billion in 2025, then grew 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.