---
schema_version: "secwatch.filing_event.v1"
accession: "0000092380-23-000021"
form_type: "8-K"
ticker: "LUV"
cik: "0000092380"
company_name: "SOUTHWEST AIRLINES CO"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T10:59:37.950621+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Southwest Q1 net loss $159M; record revenue $5.7B; cuts 2023 capacity and capex guidance on Boeing delays

## Summary
- Net loss $159M ($0.27 loss per share); record Q1 revenue $5.7B (+21.6% YoY).
- December 2022 disruption cost ~$380M pre-tax; $325M negative revenue impact mostly in Jan/Feb.
- 2023 capacity growth cut to 14-15% from 15-16% due to Boeing delivery delays (70 vs 90 aircraft).
- 2023 CASM-X guidance revised to down 2-4% (from down 3.5-5.5%); capex reduced to $3.5B.
- Liquidity $12.7B; net cash $3.6B; $214M in dividends paid in Q1.

## SEC filing metadata
- accession: 0000092380-23-000021
- form_type: 8-K
- ticker: LUV
- cik: 0000092380
- company_name: SOUTHWEST AIRLINES CO
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92380/000009238023000021/0000092380-23-000021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92380/000009238023000021/luv-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000092380-23-000021
- JSON: https://secwatch.observer/filing/0000092380-23-000021.json
- Plain text: https://secwatch.observer/filing/0000092380-23-000021.txt

## Key facts
- Earnings Releases
  SOUTHWEST AIRLINES CO reported first quarter 2023 results: revenue $5.7 billion, net income Net loss of $159 million, or $0.27 loss per diluted share, EPS $0.27 loss per diluted share.
  - Period: first quarter 2023
  - Revenue: $5.7 billion
  - Net income: Net loss of $159 million, or $0.27 loss per diluted share
  - EPS: $0.27 loss per diluted share
  - Result: reported results
  source text: million, or $0.27 loss per diluted share • Net loss, excluding special items 1 , of $163 million, or $0.27 loss per diluted share • Record first quarter operating revenues of $5.7 billion • Liquidity 2 of $12.7 billion, well in excess of debt outstanding of $8.0 billion Bob Jordan, President and Chief Executive Officer, stated, "As expected, we incurred a first
  evidence_url: https://www.sec.gov/Archives/edgar/data/92380/000009238023000021/0000092380-23-000021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.