Southwest Airlines Q2 Profit Rises 9% on Higher Fares, But Q3 Forecast Misses Expectations

Southwest Airlines reported a more than 9% increase in second-quarter profit, driven by higher fares that helped offset a nearly $900 million rise in fuel costs. Adjusted earnings per share came in at 94 cents, though revenue of $8.43 billion fell short of the $8.58 billion analysts expected. The airline forecast third-quarter adjusted earnings between 50 and 75 cents per share, below the 82 cents consensus estimate. The results highlight the airline's ability to pass fuel costs to passengers but also signal potential softening in demand or pricing power in the coming quarter. The report is based on LSEG consensus estimates and was published by CNBC on July 22, 2026.