NYSE$LUV
Southwest Airlines Co · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
Reported record revenues driven by tactical actions and strong demand.
Southwest Airlines reported a fourth-quarter net income of $261 million, or $0.42 per diluted share, and a record fourth-quarter operating revenue of $6.9 billion. The results were driven by tactical initiatives and a constructive demand environment. The company is also launching a $750 million accelerated share repurchase program.
- Reported fourth quarter net income of $261 million, or $0.42 per diluted share.
- Reported record fourth quarter operating revenues of $6.9 billion.
- Revenues per available seat mile, excluding special items, increased 8.0 percent year-over-year.
- Announced a $750 million accelerated share repurchase program.
Headline financials
Revenue & EPS history
Southwest · Revenue · Quarterly
$6.93B
Revenue by segment
Southwest · $613M total across 2 segments · Q3 2023
- Other$569M+1.1%92.8%
- Freight$44M+0.0%7.2%
Forward guidance
The Company expects first quarter 2025 RASM to increase in the range of 5 percent to 7 percent, year-over-year and first quarter 2025 CASM-X to increase in the range of 7 percent to 9 percent, year-over-year.
Tailwinds
- RASM is expected to increase in the range of 5% to 7% year-over-year for Q1 2025.
- Capacity rationalization and continued focus on the execution of its tactical initiatives are expected to improve revenue.
- Continued strength in the demand environment is anticipated.
- Unit cost trends are expected to improve throughout the year as labor comparisons ease.
- Efficiency initiatives are expected to generate modest capacity growth.
Headwinds
- ASMs are expected to decrease 2% to 3% year-over-year for Q1 2025.
- Economic fuel costs per gallon are estimated to be $2.50 to $2.60 for Q1 2025.
- CASM-X is expected to increase in the range of 7% to 9% year-over-year for Q1 2025.
- Inflationary pressures, including those associated with labor contracts ratified in 2024, are expected to continue.
- Capacity moderation efforts are expected to impact costs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-0.1%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+2.6%
Avg return
30 days after
45%
33 / 74 earnings
Positive
+12.0%
Q4 2025
Best reaction
-10.0%
Q2 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.4% | -3.4% | +3.8% | |
| Q4 2025 | +12.0% | +25.3% | +20.6% | |
| Q3 2025 | -6.2% | -7.9% | -2.8% | |
| Q2 2025 | +2.6% | +1.6% | +3.1% | |
| Q1 2025 | +3.7% | +6.8% | +21.3% | |
| Q4 2024 | -1.2% | -2.7% | -1.9% | |
| Q3 2024 | -4.2% | +1.0% | +4.0% | |
| Q2 2024 | +2.3% | +1.6% | +5.9% | |
| Q1 2024 | -7.7% | -11.5% | -8.4% | |
| Q4 2023 | -3.3% | -3.0% | +8.6% | |
| Q3 2023 | -5.3% | -5.8% | +5.4% | |
| Q2 2023 | -7.1% | -7.8% | -13.9% | |
| Q1 2023 | -2.0% | -3.0% | -4.0% | |
| Q4 2022 | -1.7% | -3.0% | -9.0% | |
| Q3 2022 | +5.4% | +7.5% | +14.1% | |
| Q2 2022 | -6.5% | -7.7% | -7.9% | |
| Q1 2022 | +1.7% | +2.9% | -0.3% | |
| Q4 2021 | -1.8% | +3.4% | +3.3% | |
| Q3 2021 | -3.7% | -3.8% | -5.3% | |
| Q2 2021 | -4.6% | -3.7% | -10.9% | |
| Q1 2021 | -0.8% | +0.6% | -3.1% | |
| Q4 2020 | -0.5% | +3.3% | +31.7% | |
| Q3 2020 | +7.4% | +0.2% | +14.3% | |
| Q2 2020 | -4.9% | -3.0% | +4.2% | |
| Q1 2020 | +6.4% | +0.4% | +11.8% | |
| Q4 2019 | +5.7% | +7.7% | +5.7% | |
| Q3 2019 | +6.6% | +7.5% | +7.1% | |
| Q2 2019 | -2.7% | -4.0% | -7.6% | |
| Q1 2019 | +0.1% | +2.5% | -3.4% | |
| Q4 2018 | +7.8% | +10.5% | +5.1% | |
| Q3 2018 | -9.2% | -10.0% | -3.5% | |
| Q2 2018 | +11.6% | +11.2% | +16.6% | |
| Q1 2018 | -0.6% | -1.7% | -1.8% | |
| Q4 2017 | -2.2% | -3.8% | -6.8% | |
| Q3 2017 | -5.3% | -5.8% | -3.5% | |
| Q2 2017 | -5.0% | -6.4% | -11.5% | |
| Q1 2017 | -1.3% | +2.4% | +6.6% | |
| Q4 2016 | +6.6% | +5.8% | +18.4% | |
| Q3 2016 | -6.5% | -4.5% | +13.1% | |
| Q2 2016 | -10.0% | -8.9% | -13.5% | |
| Q1 2016 | +0.4% | — | — | |
| Q4 2015 | -0.8% | — | — | |
| Q3 2015 | +10.2% | — | — | |
| Q2 2015 | -0.3% | — | — | |
| Q1 2015 | +1.5% | — | — | |
| Q4 2014 | +9.4% | — | — | |
| Q3 2014 | -1.0% | — | — | |
| Q2 2014 | +1.3% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | -4.3% | — | — | |
| Q3 2013 | +4.6% | — | — | |
| Q2 2013 | +0.2% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | +0.7% | — | — | |
| Q3 2012 | -0.8% | — | — | |
| Q2 2012 | -5.9% | — | — | |
| Q1 2008 | +0.9% | — | — | |
| Q1 2012 | +0.3% | — | — | |
| Q4 2011 | -0.1% | — | — | |
| Q3 2011 | -4.7% | — | — | |
| Q2 2011 | -8.6% | — | — | |
| Q1 2011 | -1.1% | — | — | |
| Q4 2010 | +2.1% | — | — | |
| Q3 2010 | +0.0% | — | — | |
| Q2 2010 | +0.2% | — | — | |
| Q1 2010 | -5.6% | — | — | |
| Q4 2007 | +1.0% | — | — | |
| Q4 2009 | +1.0% | — | — | |
| Q3 2009 | -1.7% | — | — | |
| Q3 2008 | -1.7% | — | — | |
| Q2 2008 | +7.7% | — | — | |
| Q2 2009 | +7.7% | — | — | |
| Q1 2009 | +0.4% | — | — | |
| Q4 2008 | +0.4% | — | — |
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