For the quarter ended March 2026, Southwest Airlines (LUV Quick QuoteLUV - Free Report) reported revenue of $7.25 billion, up 12.8% over the same period last year. EPS came in at $0.45, compared to -$0.13 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $7.22 billion, representing a surprise of +0.41%. The company delivered an EPS surprise of -0.29%, with the consensus EPS estimate being $0.45.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Southwest performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Load factor: 74.1% versus the five-analyst average estimate of 77.9%.
• CASM, excluding Fuel and oil expense, special items, and profit sharing expense: 13.11 cents versus the four-analyst average estimate of 13.3 cents.
• Available seat miles (ASMs): 42.05 billion versus 42 billion estimated by four analysts on average.
• Revenue passenger miles (RPMs): 31.15 billion versus 32.79 billion estimated by four analysts on average.
• Revenue Per Available Seat Mile (RASM): 17.24 cents compared to the 17.26 cents average estimate based on four analysts.
• Passenger revenue per ASM (PRASM): 15.68 cents compared to the 16.71 cents average estimate based on four analysts.
• Passenger revenue yield per RPM: 21.16 cents compared to the 19.82 cents average estimate based on three analysts.
• Fuel consumed: 496.00 Mgal versus 510.90 Mgal estimated by three analysts on average.
• Fuel costs per gallon, including fuel tax: 2.73 $/gal versus 2.62 $/gal estimated by three analysts on average.
• Operating Revenues- Passenger [$M]: $6.59 billion versus the five-analyst average estimate of $6.56 billion. The reported number represents a year-over-year change of +13.4%.
• Operating Revenues- Other: $614 million compared to the $658.24 million average estimate based on five analysts. The reported number represents a change of +6.6% year over year.
• Operating Revenues- Freight [$M]: $44 million versus the five-analyst average estimate of $47.26 million. The reported number represents a year-over-year change of +7.3%.

View all Key Company Metrics for Southwest here>>>

Shares of Southwest have returned +2.7% over the past month versus the Zacks S&P 500 composite's +8.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.