Southwest Airlines Co (NYSE:LUV) reported second-quarter financial results after the closing bell on Wednesday. Here’s a look at the key details from the report.

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Southwest Airlines Q2 Highlights

• Q2 Revenue: $8.43 billion, versus estimates of $8.58 billion
• Q1 Adjusted EPS: 94 cents, versus estimates of 51 cents

Second-quarter operating revenue increased 16.4% year-over-year. The company said revenue per available seat mile (RASM) increased 16.2% year-over-year. RASM in the third quarter is expected to grow between 17.5% and 19.5%.

“Second quarter results demonstrate the earnings power of our business. We delivered results well ahead of consensus expectations despite nearly $900 million of additional fuel expense year-over-year,” said Bob Jordan, president and CEO of Southwest Airlines.

Southwest exited the quarter with $5.3 billion of liquidity, consisting of $3.8 billion in cash and cash equivalents and a revolving credit line of $1.5 billion.

The company guided for third-quarter adjusted earnings of 50 cents to 75 cents per share versus estimates of 82 cents per share. Southwest also sees full-year 2026 adjusted earnings in the range of $3.25 to $4.25 per share versus estimates of $3.17 per share.

“Our focus now turns to unlocking the company’s full earnings potential by continuing to optimize our network, product offering, and pricing, while continuing to strengthen financial performance,” Jordan added.

Southwest executives will discuss the quarter on an earnings call at 10 a.m. ET Thursday morning.

LUV Shares Slide After the Close

LUV Price Action: Southwest Airlines shares were down 2.06% in after-hours Wednesday, trading at $46.66 at the time of publication, according to Benzinga Pro.

Photo: Courtesy of Southwest Airlines.