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Southwest (LUV) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2026, Southwest Airlines (LUV - Free Report) reported revenue of $8.42 billion, up 21.2% over the same period last year. EPS came in at $0.66, compared to $0.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.27 billion, representing a surprise of +1.89%. The company delivered an EPS surprise of +8.2%, with the consensus EPS estimate being $0.61.
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: 79.8% versus 82.3% estimated by five analysts on average.
Available seat miles (ASMs): 45.39 billion compared to the 45.47 billion average estimate based on four analysts.
CASM, excluding Fuel and oil expense and special items: 12.82 cents compared to the 12.83 cents average estimate based on four analysts.
Passenger revenue per ASM (PRASM): 17.08 cents versus the four-analyst average estimate of 16.47 cents.
CASM, excluding Fuel and oil expense, special items, and profit sharing expense: 12.68 cents versus the four-analyst average estimate of 12.64 cents.
Revenue Per Available Seat Mile (RASM): 18.55 cents versus the four-analyst average estimate of 18.17 cents.
Revenue passenger miles (RPMs): 36.21 billion compared to the 37.67 billion average estimate based on four analysts.
Passenger revenue yield per RPM: 21.41 cents versus the three-analyst average estimate of 19.76 cents.
Fuel costs per gallon, including fuel tax: 3.92 $/gal versus 3.52 $/gal estimated by three analysts on average.
Operating Revenues- Passenger [$M]: $7.75 billion compared to the $7.5 billion average estimate based on five analysts. The reported number represents a change of +22.8% year over year.
Operating Revenues- Other: $621 million compared to the $705.66 million average estimate based on five analysts. The reported number represents a change of +4.6% year over year.
Operating Revenues- Freight [$M]: $48 million compared to the $54.08 million average estimate based on five analysts. The reported number represents a change of +14.3% year over year.
Shares of Southwest have returned -5.8% over the past month versus the Zacks S&P 500 composite's +1% 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.
View the Zacks #1 Rank List
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Southwest (LUV) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2026, Southwest Airlines (LUV - Free Report) reported revenue of $8.42 billion, up 21.2% over the same period last year. EPS came in at $0.66, compared to $0.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $8.27 billion, representing a surprise of +1.89%. The company delivered an EPS surprise of +8.2%, with the consensus EPS estimate being $0.61.
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:View all Key Company Metrics for Southwest here>>>
Shares of Southwest have returned -5.8% over the past month versus the Zacks S&P 500 composite's +1% 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.