---
schema_version: "secwatch.filing_event.v1"
accession: "0000092380-25-000131"
form_type: "8-K"
ticker: "LUV"
cik: "0000092380"
company_name: "SOUTHWEST AIRLINES CO"
filed_at: "2025-07-23T23:59:59+00:00"
generated_at: "2026-05-18T03:59:55.039486+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Southwest Q2 net income $213M ($0.39 EPS); launches $2B buyback; bag fees exceed expectations

## Summary
- Q2 net income $213M (diluted EPS $0.39); adjusted net income $230M (adjusted EPS $0.43).
- Revenue $7.2B down 1.5% YoY; RASM -3.1% on capacity +1.6%; CASM-X +4.7%.
- Launched bag fees and basic economy; bag fee revenue exceeding expectations; no operational impact.
- Board authorized new $2.0B share repurchase program expected over ~2 years; completed prior $2.5B buyback.
- FY2025 EBIT guidance $600M-$800M; initiatives target $1.8B EBIT contribution in 2025.

## SEC filing metadata
- accession: 0000092380-25-000131
- form_type: 8-K
- ticker: LUV
- cik: 0000092380
- company_name: SOUTHWEST AIRLINES CO
- filed_at: 2025-07-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/92380/000009238025000131/0000092380-25-000131-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/92380/000009238025000131/luv-20250723.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000092380-25-000131
- JSON: https://secwatch.observer/filing/0000092380-25-000131.json
- Plain text: https://secwatch.observer/filing/0000092380-25-000131.txt

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