Southwest Airlines Company (LUV) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and welcome to the Southwest Airlines fourth quarter 2025 conference call. My name is Jamie, and I will be monitoring today's conference call, which is being recorded. A replay will be available on southwest.com in the investor section. After today's remarks, there's an opportunity to ask questions. To queue up for an opportunity to ask a question, please press star and one. To withdraw your question, the command is star and then two. Now, Danielle Collins, Managing Director of Investor Relations, will begin the discussion. Please go ahead, Danielle. Thank you. Hello, everyone, and welcome to Southwest Airlines' fourth quarter 2025 earnings call. In just a moment, we'll share our prepared remarks, after which we will move to Q&A. Joining me today are Bob Jordan, our President and Chief Executive Officer, Andrew Watterson, our Chief Operating Officer, and Tom Doxey, our Chief Financial Officer. Before we begin, a reminder that today's session will make forward-looking statements, which are based on our current expectations of future performance, and our actual results could differ materially from expectations. Also, we will reference our non-GAAP results, which exclude special items, that are called out and reconciled to GAAP results in our earnings press release. With that, I'll turn the call over to Bob. Thank you, Danielle, and good morning, everyone, and thank you for joining our earnings call today. We've been looking forward to 2026 when all the incredible work undertaken by the Southwest team will show dramatically improved results. First, however, a few comments on this past year and our fourth quarter 2025 results. The fourth quarter capped a year of meaningful transformation and accelerated execution at Southwest. We finished the year in the...