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AI brief of an SEC Form 8-K · Southwest Airlines (LUV)

Southwest Airlines Q1 loss narrows to $149 million on record $6.4 billion revenue

Mixed Impact 4 of 5 earnings Written later

Southwest reported a first quarter 2025 net loss of $149 million, or $0.26 per diluted share, compared with a net loss of $231 million, or $0.39 per share, a year earlier. Revenue rose 1.6% to $6.4 billion, but the company did not reiterate its full-year 2025 or 2026 EBIT guidance, forecast second quarter unit revenue of flat to down 4%, and said it is reducing second-half capacity.

Key points

  • Q1 2025 net loss of $149 million ($0.26 per diluted share) vs. $231 million ($0.39) in Q1 2024; excluding special items, net loss was $77 million ($0.13 per share)
  • Q1 2025 operating revenues of $6.4 billion, up 1.6% year-over-year; RASM rose 3.5%
  • Second quarter 2025 RASM guided flat to down 4% and capacity up 1% to 2%; full-year 2025 capacity now expected up roughly 1%
  • Company reaffirmed $1.8 billion (2025) and $4.3 billion (2026) EBIT contribution targets from initiatives; $1.0 billion of the $2.5 billion buyback has been repurchased

The filing

CompanySouthwest Airlines (LUV)
Form8-K, current report
Filed with the SECApr 23, 2025, 4:22 PM ET
Accession number0000092380-25-000079

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 23, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.