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Southwest Airlines Company

LUV Consumer Discretionary Air Freight/Delivery Services
$42.03
▲ +6.0% Today
as of Oct 22, 16:50 ET
Last 30 days +6.35% Sep 14 → Oct 22
$38.49 $39.61 $40.74 $41.87 $42.99 Sep 14 Sep 22 Sep 29 Oct 07 Oct 14 Oct 22
Open
$39.20
High
$42.08
Low
$38.65
Volume
$12M
Avg Vol
$8M
Mkt Cap
$20.4B
P/E (TTM)
38.73
Beta
—
52w High
$55.11
52w Low
$29.26
Div Yield
—
Shares Out
—

Recent Press Releases & News last 60 days · 25 items

Oct 22 · 13:46 Proactive
Southwest Airlines posts record revenue as fuel costs surge
Oct 22 · 09:39 Barrons.com
Southwest Airlines Beats Expectations but Slashes Profit Outlook on Rising Fuel Costs
Oct 21 · 22:00 Zacks
Southwest (LUV) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
▸ Show all 25 press releases & news Free account →

LUV earnings at a glance

The options market is pricing a move of about ±10.5% after the report, a range of roughly $37.62 to $46.44 from today's $42.03. Over its last 6 reports the stock rose the next day 2 times and fell 4, moving ±8.3% on average; after the most recent report on Jul 22, 2026 it moved -6.2%. That means options currently expect more movement than LUV has typically delivered. LUV beat the consensus EPS estimate in 4 of its last 6 reported quarters. Implied volatility is currently 65%. The share price of $42.03 sits in the middle of its 52-week range.

More Consumer Discretionary stocks · All stocks · Earnings calendar

Overview

52-week range
$29
$55
49% of range
Avg surprise (last 6)
+182.7%
Avg reaction (last 6)
-0.9%
33% positive
Latest IV / EM
65%
EM ±10.5% · $42 · Oct 23

Earnings trends

EPS — actual vs estimate Actual Estimate
$-0.39$-0.02$0.35$0.71$1.08 Actual $-0.27Actual $1.08Actual $0.31Actual $-0.39Actual $0.58Actual $0.11Actual $-0.13Est $-0.18Actual $0.43Est $0.51Actual $0.11Est $0.01Actual $0.58Est $0.56Actual $0.45Est $0.45Actual $0.94Est $0.52 MarJunSepMarJunSepMar/2025Jun/2025Sep/20258K8KJun/2026
Revenue vs Net Income Revenue Net income
$-149M$2.1B$4.4B$6.6B$8.9B Sep 24Mar 25Jun 25Sep 25Mar 26Jun 26

Earnings history

DatePeriodActual EPSEstSurpriseYoY %ΔDay reactSource
Wed Jul 22, 2026Jun/2026 $0.94 $0.52 +80.8% +20.9% -6.2% earnings
Wed Apr 22, 20268K 2026-04-22 $0.45 $0.45 0.0% — -4.1% earnings
Wed Jan 28, 20268K 2026-01-28 $0.58 $0.56 +3.6% — +18.7% earnings
Wed Oct 22, 2025Sep/2025 $0.11 $0.01 +1,000% — -6.2% earnings
Wed Jul 23, 2025Jun/2025 $0.43 $0.51 -15.7% — -11.2% earnings
Wed Apr 23, 2025Mar/2025 $-0.13 $-0.18 +27.8% — +3.7% earnings
Mon Sep 30, 2024Sep 2024 $0.11 — — — — financials
Sun Jun 30, 2024Jun 2024 $0.58 — — — — financials
Sun Mar 31, 2024Mar 2024 $-0.39 — — — — financials
Sat Sep 30, 2023Sep 2023 $0.31 — — — — financials
Fri Jun 30, 2023Jun 2023 $1.08 — — — — financials
Fri Mar 31, 2023Mar 2023 $-0.27 — — — — financials

Financials

Income statement (quarterly)

MetricJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue$8.43B$7.25B—$6.95B$7.24B$6.43B—$6.87B
Cost of revenue————————
Gross profit————————
Operating income$285M$330M—$35M$225M$-223M—$38M
Net income$233M$227M—$54M$213M$-149M—$67M
EPS (diluted)$0.47$0.45—$0.10$0.39$-0.26—$0.11

Balance sheet (quarterly)

MetricJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Cash & equivalents$3.79B$3.33B$3.23B$2.90B$3.48B$8.13B$7.51B$8.50B
Inventory————————
Total current assets$6.48B$5.97B$5.64B$5.39B$6.09B$10.73B$11.27B$11.93B
Total assets$30.12B$29.36B$29.06B$28.31B$28.71B$33.21B$33.75B$34.85B
Long-term debt————————
Total liabilities————————
Total equity$7.08B$6.88B$7.98B$7.78B$8.00B$9.37B$10.35B$10.41B

Implied volatility — last 90 days

29%54%79%105%130% Jun 07 — IV 61% · EM ±5.7%Jun 08 — IV 56% · EM ±4.7%Jun 09 — IV 55% · EM ±4.0%Jun 10 — IV 63% · EM ±3.7%Jun 11 — IV 114% · EM ±4.8%Jun 15 — IV 55% · EM ±4.0%Jun 16 — IV 60% · EM ±3.5%Jun 17 — IV 79% · EM ±3.3%Jun 19 — IV 48% · EM ±5.3%Jun 22 — IV 51% · EM ±4.2%Jun 23 — IV 51% · EM ±3.7%Jun 24 — IV 48% · EM ±2.9%Jun 25 — IV 61% · EM ±2.5%Jun 29 — IV 58% · EM ±12.1%Jun 30 — IV 54% · EM ±11.0%Jul 01 — IV 56% · EM ±11.2%Jul 02 — IV 61% · EM ±11.9%Jul 03 — IV 62% · EM ±11.9%Jul 06 — IV 60% · EM ±10.6%Jul 07 — IV 60% · EM ±10.3%Jul 08 — IV 60% · EM ±10.0%Jul 09 — IV 62% · EM ±10.0%Jul 10 — IV 60% · EM ±9.4%Jul 13 — IV 63% · EM ±8.7%Jul 14 — IV 63% · EM ±8.3%Jul 15 — IV 68% · EM ±8.5%Jul 16 — IV 67% · EM ±7.9%Jul 17 — IV 69% · EM ±7.7%Jul 20 — IV 87% · EM ±7.3%Jul 21 — IV 99% · EM ±7.2%Jul 22 — IV 131% · EM ±7.7%Jul 23 — IV 68% · EM ±2.8%Jul 27 — IV 50% · EM ±4.2%Jul 28 — IV 50% · EM ±3.6%Jul 29 — IV 94% · EM ±5.5%Jul 30 — IV 77% · EM ±3.2%Aug 03 — IV 53% · EM ±4.4%Aug 04 — IV 48% · EM ±3.5%Aug 05 — IV 51% · EM ±3.0%Aug 06 — IV 51% · EM ±2.1%Aug 10 — IV 48% · EM ±4.0%Aug 11 — IV 38% · EM ±2.8%Aug 12 — IV 41% · EM ±2.4%Aug 13 — IV 47% · EM ±2.0%Aug 17 — IV 42% · EM ±3.5%Aug 18 — IV 37% · EM ±2.7%Aug 19 — IV 38% · EM ±2.2%Aug 20 — IV 29% · EM ±1.2%Aug 24 — IV 33% · EM ±2.8%Aug 25 — IV 39% · EM ±2.8%Aug 26 — IV 50% · EM ±2.9%Aug 27 — IV 65% · EM ±2.7%Aug 31 — IV 42% · EM ±3.5%Sep 01 — IV 41% · EM ±2.9%Sep 02 — IV 42% · EM ±2.5%Sep 03 — IV 46% · EM ±1.9%Sep 07 — IV 30% · EM ±2.5%Sep 08 — IV 42% · EM ±3.0%Sep 09 — IV 35% · EM ±2.0%Sep 10 — IV 52% · EM ±2.2%Sep 14 — IV 53% · EM ±4.4%Sep 15 — IV 72% · EM ±5.2%Sep 16 — IV 51% · EM ±3.0%Sep 17 — IV 57% · EM ±2.4%Sep 21 — IV 38% · EM ±3.2%Sep 22 — IV 49% · EM ±3.6%Sep 23 — IV 44% · EM ±2.6%Sep 24 — IV 50% · EM ±2.1%Sep 28 — IV 49% · EM ±11.5%Sep 29 — IV 46% · EM ±10.7%Sep 30 — IV 48% · EM ±10.9%Oct 01 — IV 47% · EM ±10.5%Oct 02 — IV 48% · EM ±10.7%Oct 05 — IV 44% · EM ±9.3%Oct 06 — IV 53% · EM ±9.1%Oct 07 — IV 54% · EM ±9.1%Oct 08 — IV 65% · EM ±10.5%

Sector peers

LTM
LATAM Airlines Group S.A.
$13.7B $47.22-1.1%
RYAAY
Ryanair Holdings plc
$27.9B $53.67-0.6%
AAL
American Airlines Group, Inc.
$8.5B $12.60+4.0%
CPA
Copa Holdings, S.A.
$5.6B $134.86-0.3%
UAL
United Airlines Holdings, Inc.
$35.8B $102.00+4.3%
ALK
Alaska Air Group, Inc.
$4.4B $35.38+3.0%

LUV earnings FAQ

What is LUV's expected move for earnings?

Options currently price a move of about ±10.5%, or $4.41 per share either way from $42.03.

How does LUV stock usually react to earnings?

Across the last 6 reports the average next-day move was ±8.3%, up 2 times and down 4 times.

What is LUV's implied volatility?

LUV's at-the-money implied volatility is about 65% based on the latest options snapshot.

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