Southwest Airlines (LUV) Shares Outstanding (Diluted Average) (2009 - 2026)

Southwest Airlines has reported Shares Outstanding (Diluted Average) for 18 years, with the latest figure at $503.0 million in Q1 2026.

• For the quarter ending Q1 2026, Shares Outstanding (Diluted Average) fell 13.87% year-over-year to $503.0 million; the trailing twelve-month figure through Mar 2026 stood at $503.0 million (down 13.87% YoY), and the FY2009 full-year result was $741.0, changed N/A from the prior year.
• Shares Outstanding (Diluted Average) for Q1 2026 stood at $503.0 million, down from $526.0 million in the prior quarter.
• The five-year high for Shares Outstanding (Diluted Average) was $643.0 million in Q2 2024, with the low at $503.0 million in Q1 2026.
• Historically, Shares Outstanding (Diluted Average) has averaged $598.2 million across 5 years, with a median of $597.0 million in 2024.
• Annual changes were most pronounced in 2022 — Shares Outstanding (Diluted Average) climbed 4.75% — and 2025, when it fell 18.2%.
• Southwest Airlines' Shares Outstanding (Diluted Average) stood at $639.0 million in 2022, then gained by 0.16% to $640.0 million in 2023, then increased by 0.47% to $643.0 million in 2024, then retreated by 18.2% to $526.0 million in 2025, then declined by 4.37% to $503.0 million in 2026.
• The last three Shares Outstanding (Diluted Average) figures came in at $503.0 million (Q1 2026), $526.0 million (Q3 2025), and $541.0 million (Q2 2025), per Business Quant data.