Southwest Airlines (LUV) reported a Q1 adjusted loss late Wednesday of $0.13 per diluted share, narrowing from the loss of $0.36 a year earlier.

Analysts polled by FactSet expected a loss of $0.18.

Operating revenue in the three months ended March 31 rose to $6.43 billion from $6.33 billion a year earlier, the company said in a statement.

Analysts surveyed by FactSet expected $6.39 billion.

The company decided not to reiterate 2025 or 2026 guidance for earnings before interest and taxes.

"Amid the current macroeconomic uncertainty, it is difficult to forecast given recent and short-lived booking trends." the company said.

The company plans to reduce capacity in H2. Chief Executive Officer Bob Jordan said, "These incremental schedule adjustments are in progress, and based on current estimates, we now expect our full year 2025 capacity to be up roughly 1 percent, year-over-year."

Shares of the company fell 3.6% in after-hours activity.