Southwest Airlines (LUV) Revenue — Quarter Ended Mar 31, 2023
Revenue declined sequentially but rose compared to the same quarter last year. The results reflect a continued recovery in travel demand.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue declined sequentially but rose compared to the same quarter last year. The results reflect a continued recovery in travel demand.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$5.7B
Revenue reported for this quarter.
Quarter-over-quarter
-7.6%
Change from the immediately preceding quarter.
Year-over-year
+21.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$24.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $6.7B | +67.9% |
| Sep 30, 2022 | $6.2B | +32.9% |
| Dec 31, 2022 | $6.2B | +22.2% |
| Mar 31, 2023 | $5.7B | +21.6% |
Revenue performance
The revenue trend shows a year-over-year improvement despite a sequential dip. The increase in air traffic liability indicates strong ticket sales.
Quarterly comparison
Compared to the prior quarter, revenue decreased. Compared to the same quarter a year earlier, revenue grew.
What to watch
Monitor the company's ability to manage costs and operational disruptions, as past disruptions led to significant reimbursements.