Southwest Airlines (LUV) Q3 2026 earnings — TrendMatrix coverage

Adjusted EPS

$0.66

Estimate

$0.58

Surprise

+14.3%

Score today

5.5/10

Revenue for this quarter isn’t shown: the reported figure hasn’t cleared TrendMatrix’s freshness and sanity checks yet, and consensus revenue isn’t tracked. EPS above is the available figure.

Southwest Airlines (LUV) beat the $0.58 estimate with adjusted EPS of $0.66 — a large 14.3% upside surprise.

• Southwest Airlines Reports Q3 2026 Financial Results — fiscal.ai, 2026-10-21
• Southwest Airlines Stock Rises, Even with $821 Million Increase in Fuel Expenses: Here’s Why — benzinga, 2026-10-21
• Southwest Airlines Says Q3 2026 Fuel Cost Was $3.92 per Gallon; For Q4 2026 Fuel Cost Per Gallon Is Assumed To Be ~$4.55 — benzinga, 2026-10-21

TrendMatrix currently rates LUV Sell at 5.5/10; no pre/post engine snapshot brackets this report.

3 of the last 4 quarters beat the estimate; this quarter's +14.3% surprise compares with a +22.8% four-quarter average.

This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.

Current price

$39.88

Price target

$44.26

Stop

$37.34

Upside to target

+11.0%

Reward-to-risk

1.6:1

Model outputs from TrendMatrix’s engine as of 2026-10-22 — shown for context, not personalized investment advice.

Industrial quarters are order-book stories — backlog and book-to-bill color how the market reads the reported number.

Industry

Airlines

Market cap

$19.51B

P/E (fwd)

9.2

P/E (ttm)

24.9

52-week range

$29.26–$55.11

Off 52-week high

27.6%

RSI (14)

40

Volume vs avg

1.49×

Score today

5.5/10