Skip to content
OpenCapital
Get started

Southwest Airlines LUV Q2 2025 earnings

Reported July 23, 2025 · After market close

Revenue$7.2BMiss by $52.1MDiluted EPS$0.43Miss by $0.08
Revenue estimate$7.3B
EPS estimate$0.51

Next report

Jul 22, 2026 (In 6 days)
Revenue estimate$8.6B
EPS estimate$0.52

Financials

Q2 2025

Income statement

See full
Revenue$7.2B-1.5%
Operating income$225.0M-43.5%
Net income$213.0M-42.0%
EPS (diluted)$0.39-32.8%

Balance sheet

See full
Cash & equivalents$3.5B-57.3%
Total debt$5.3B-41.4%
Total equity$8.0B-23.6%
Total assets$28.7B-19.3%

Cash flow

See full
Operating cash flow$401.0M+1,843%
CapEx$635.0M+28.5%
Free cash flow-$234.0M+54.7%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$18.16B+5.9%
Enterprise value$20.02B+10.6%
P/E46.3×—
P/S0.7×0.0×

Profitability

See full
Operating margin1.2%—
Net margin1.4%—
FCF margin-1.1%-0.5pp

Returns & leverage

See full
Return on equity4.2%—
Debt / equity0.7×-0.2×
Current ratio0.6×-0.3×

Segments

By product

See full
Passenger non-loyalty$5.4B-1.7%
Passenger loyalty - air transportation$870.0M-2.8%
Passenger ancillary sold separately$309.0M+13.2%

By geography

See full
North America$6.8B+2.2%
Latin America$189.0M-5.3%

Versus estimates

Revenue

Q1 2026$7.2BMiss by $22.9MQ4 2025$7.4BMiss by $59.4MQ3 2025$6.9BBeat by $31.7M
Q2 2025$7.2BMiss by $52.1M
Q1 2025$6.4BBeat by $36.9MQ4 2024$6.9BMiss by $29.2M

Diluted EPS

Q1 2026$0.45In lineQ4 2025$0.58Beat by $0.01Q3 2025$0.11Beat by $0.15
Q2 2025$0.43Miss by $0.08
Q1 2025-$0.13Beat by $0.05Q4 2024$0.56Beat by $0.10

Ask the moment Southwest Airlines reports.

Connect your AI and ask the moment the filing drops. It reads the release, surfaces what management said, and gives you its own read.

Connect your AI
Harbor at dusk
Claude

Questions, answered.

When did Southwest Airlines report Q2 2025 earnings?
Southwest Airlines (LUV) reported Q2 2025 earnings on July 23, 2025 after market close.
What were Southwest Airlines's Q2 2025 revenue and EPS?
Southwest Airlines reported revenue of $7.2B and diluted EPS of $0.43 for Q2 2025.
Did Southwest Airlines beat estimates in Q2 2025?
Revenue missed the consensus estimate of $7.3B by $52.1M. EPS missed the consensus estimate of $0.51 by $0.08.
How did Southwest Airlines's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.5% from $7.4B a year earlier and diluted EPS declined 25.9% from $0.58.
Where can I find Southwest Airlines's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0000092380-25-000134) directly on SEC EDGAR. The filing index links above go to sec.gov.