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

Southwest Airlines has reported Operating Income for 18 years, with the latest figure at $330.0 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Income rose 247.98% year-over-year to $330.0 million; the trailing twelve-month figure through Mar 2026 stood at $981.0 million (up 99.8% YoY), and the FY2025 full-year result was $428.0 million, up 33.33% from the prior year.
• Operating Income for Q1 2026 stood at $330.0 million, down from $391.0 million in the prior quarter.
• The five-year high for Operating Income was $1.2 billion in Q2 2022, with the low at -$404.0 million in Q4 2023.
• Historically, Operating Income has averaged $136.5 million across 5 years, with a median of $117.0 million in 2023.
• Annual changes were most pronounced in 2022 — Operating Income slumped 297.44% — and 2026, when it soared 247.98%.
• Southwest Airlines' Operating Income stood at -$385.0 million in 2022, then retreated by 4.94% to -$404.0 million in 2023, then surged by 168.81% to $278.0 million in 2024, then jumped by 40.65% to $391.0 million in 2025, then slipped by 15.6% to $330.0 million in 2026.
• The last three Operating Income figures came in at $330.0 million (Q1 2026), $391.0 million (Q4 2025), and $35.0 million (Q3 2025), per Business Quant data.