Operating Income
Operating Income
Southwest Airlines Operating Income decreased by 15.6% to $330M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 248.0%, from -$223M to $330M. Over 2 years (FY 2021 to FY 2025), Operating Income shows a downward trend with a -50.1% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
StatementIncome Statement
SectionOperating Income
CategoryProfitability
SignalHigher is better
VolatilityVolatile
First reportedQ1 2013
Last reportedQ1 2026Apr 23, 2026
How to read this metric
An increase indicates improved profitability and operational health, while a decrease signals margin pressure or operational challenges.
Detailed definition
Calculated as total operating revenue minus total operating expenses, representing the profit generated from core airlin...
Peer comparison
A key performance indicator for all airlines, often compared as operating margin percentage.
Metric ID:
operating_incomeHistorical Data
18 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $594M | $733M | $195M | -$151M | $1.16B | $395M | -$284M | $795M | $117M | -$393M | $398M | $38M | $278M | -$223M | $225M | $35M | $391M | $330M |
| QoQ Change | — | +23.4% | -73.4% | -177.4% | +866.9% | -65.9% | -171.9% | +379.9% | -85.3% | -435.9% | +201.3% | -90.5% | +631.6% | -180.2% | +200.9% | -84.4% | >999% | -15.6% |
| YoY Change | — | — | — | — | +94.9% | -46.1% | -88.1% | -31.3% | -70.4% | -38.4% | -49.9% | -67.5% | — | +43.3% | -43.5% | -7.9% | +40.6% | +248.0% |
Range-$393M – $1.16B
CAGR-12.9%
Avg YoY Growth-1.3%
Median YoY Growth-38.4%
Operating Income at Other Companies
Frequently Asked Questions
- What is Southwest Airlines's operating income?
- Southwest Airlines (LUV) reported operating income of $330M in Q1 2026.
- How has Southwest Airlines's operating income changed year-over-year?
- Southwest Airlines's operating income increased by 248.0% year-over-year, from -$223M to $330M.
- What is the long-term trend for Southwest Airlines's operating income?
- Over 2 years (2021 to 2025), Southwest Airlines's operating income has grown at a -50.1% compound annual growth rate (CAGR), from $1.72B to $428M.
- What does operating income mean?
- The profit earned from the airline's core business activities before interest and taxes.