Southwest Airlines (LUV) Revenue — Quarter Ended Mar 31, 2024
Revenue for the current quarter decreased compared to the immediately preceding quarter but increased compared to the same quarter one year earlier. The year-over-year improvement was supported by higher ticket sales linked to capacity expansion.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the current quarter decreased compared to the immediately preceding quarter but increased compared to the same quarter one year earlier. The year-over-year improvement was supported by higher ticket sales linked to capacity expansion.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.3B
Revenue reported for this quarter.
Quarter-over-quarter
-7.2%
Change from the immediately preceding quarter.
Year-over-year
+10.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$26.7B
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, 2023 | $7B | +4.6% |
| Sep 30, 2023 | $6.5B | +4.9% |
| Dec 31, 2023 | $6.8B | +10.5% |
| Mar 31, 2024 | $6.3B | +10.9% |
Revenue performance
The company posted a year-over-year revenue gain, partly reflecting increased ticket sales from capacity growth. Sequentially, revenue declined from the prior quarter.
Quarterly comparison
Revenue fell from the previous quarter but was higher than the same period last year. The sequential decline contrasts with the year-over-year increase.
What to watch
The one-time pilot bonus payments that significantly affected operating cash flows in the quarter may influence near-term cost comparisons.