Benvolio: What sadness lengthens Romeo's hours?

Romeo: Not having that, which having, makes them short.

Benvolio: In love?

Romeo: Out–

Benvolio: Of love?

Romeo: Out of her favour, where I am in love.

—Romeo and Juliet,
William Shakespeare

Why is Romeo sad?

What would make the hours short?

What does Romeo mean when he says that he is “out of favor”?

Romeo is sad because he does not have the person he loves with him.

Having the person he loves with him would make the hours seem short.

When Romeo says that he is "out of favor," he means that he is not in the good graces or receiving the affection of the person he loves.