For the quarter ended June 2026, Southwest Airlines (LUV Quick QuoteLUV - Free Report) reported revenue of $8.43 billion, up 16.4% over the same period last year. EPS came in at $0.94, compared to $0.43 in the year-ago quarter.

The reported revenue represents a surprise of -1.68% over the Zacks Consensus Estimate of $8.58 billion. With the consensus EPS estimate being $0.52, the EPS surprise was +80.77%.

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: 79.3% compared to the 81.4% average estimate based on five analysts.
• Passenger revenue per ASM (PRASM): 16.45 cents versus 16.65 cents estimated by four analysts on average.
• Available seat miles (ASMs): 47.09 billion versus the four-analyst average estimate of 47.11 billion.
• Revenue passenger miles (RPMs): 37.35 billion versus 38.5 billion estimated by four analysts on average.
• CASM, excluding Fuel and oil expense, special items, and profit sharing expense: 12.45 cents versus the four-analyst average estimate of 12.51 cents.
• Revenue Per Available Seat Mile (RASM): 17.91 cents compared to the 18.19 cents average estimate based on four analysts.
• Passenger revenue yield per RPM: 20.74 cents versus the three-analyst average estimate of 20.23 cents.
• CASM, excluding Fuel and oil expense and special items: 12.56 cents compared to the 12.68 cents average estimate based on three analysts.
• Fuel costs per gallon, including fuel tax: 3.92 $/gal compared to the 3.64 $/gal average estimate based on three analysts.
• Operating Revenues- Passenger [$M]: $7.75 billion compared to the $7.88 billion average estimate based on five analysts. The reported number represents a change of +16.9% year over year.
• Operating Revenues- Other: $637 million versus the five-analyst average estimate of $661.19 million. The reported number represents a year-over-year change of +11.2%.
• Operating Revenues- Freight [$M]: $50 million versus $51.87 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +13.6% change.

View all Key Company Metrics for Southwest here>>>

Shares of Southwest have returned -1.5% over the past month versus the Zacks S&P 500 composite's +0.3% 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.