LUV
Southwest AirlinesPrevious close
42.43
Change
−1.25 / −2.86%
P/E (TTM) ?
20.0
Market Cap
$20.6B
1M
+1.90%
S&P 500 −0.91% over same period
Volume / Avg Volume
4.1M / 7.6M
0.54× average
Latest earnings analysisFY2026 Q3Reported 2026-10-21
Southwest Q3 FY2026: record $8.42 billion revenue, margins expand
Southwest's third quarter was a real step up: revenue hit a record $8.42 billion and adjusted EPS of $0.66 beat the $0.5816 consensus even as fuel costs rose $821 million. The catch is that reported EPS of $0.55 fell short of that same consensus, and $214 million of aircraft sale gains flattered operating income. Read this as margin progress, not a clean sweep.
Read the full analysis →Revenue$8.42BYoY +21.20%
EPS (non-GAAP)$0.66Beatest. $0.58
Next-day move+5.39%
Recent Earnings
Click to read the FinDog analysis| Period | Reported | Revenue | Analysis |
|---|---|---|---|
| FY2026 Q3 Quarter ended 2026-09 | 2026-10-21 | $8.4B | Read analysis → |
| FY2026 Q2 Quarter ended 2026-06 | 2026-07-22 | $8.4B | Read analysis → |
| FY2026 Q1 Quarter ended 2026-03 | 2026-04-22 | $7.2B | Pending |
| FY2025 Q4 Quarter ended 2025-12 | 2026-01-28 | $28.1B | Pending |
| FY2025 Q3 Quarter ended 2025-09 | 2025-10-22 | $6.9B | Pending |
| FY2025 Q2 Quarter ended 2025-06 | 2025-07-23 | $7.2B | Pending |
| FY2025 Q1 Quarter ended 2025-03 | 2025-04-23 | $6.4B | Pending |
Decision Panel
Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market dataValuation
P/E is at percentile 0 of its 5-year rangeCheap
5-year range 26.2 – 211.6 · Median 41.6
Last 4 quarters: $1.3B in buybacks + $357M in dividends, 8.03% of market cap combined
P/E (TTM)
20.0
P/B
2.9
P/S
0.7
Dividend Yield
2.90%
Earnings Reaction
Over the last 7 reports, the stock moved ±7.9% on average on the first trading day after, rising 3 times
Most recent +5.39%
Volatility & Correlation
1-year beta 1.53 · Correlation with S&P 500 0.50High beta
Annualized volatility 37% vs. 12% for the S&P 500
Insider Trading
View all →Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions
No open-market buys or sells by officers or directors in the last 90 days.
Multi-Quarter Financial Trends
View all quarters →Last 12 quarters · As reported by the company
| Quarter | Revenue ($B) | YoY | Gross Margin | Net Income ($B) | EPS |
|---|---|---|---|---|---|
| FY2026 Q3 | 8.42 | +21.2% | — | 0.27 | 0.55 |
| FY2026 Q2 | 8.43 | +16.4% | — | 0.23 | 0.47 |
| FY2026 Q1 | 7.25 | +12.8% | — | 0.23 | 0.45 |
| FY2025 Q4 | 7.44 | +7.4% | — | 0.32 | 0.56 |
| FY2025 Q3 | 6.95 | +1.1% | — | 0.05 | 0.10 |
| FY2025 Q2 | 7.24 | −1.5% | — | 0.21 | 0.39 |
| FY2025 Q1 | 6.43 | +1.6% | — | -0.15 | -0.26 |
| FY2024 Q4 | 6.93 | +1.6% | — | 0.26 | 0.46 |
| FY2024 Q3 | 6.87 | +5.3% | — | 0.07 | 0.11 |
| FY2024 Q2 | 7.35 | +4.5% | — | 0.37 | 0.58 |
| FY2024 Q1 | 6.33 | +10.9% | — | -0.23 | -0.39 |
| FY2023 Q4 | 6.82 | +10.5% | — | -0.25 | -0.36 |