SkyWest Earnings Reports

SkyWest reported a strong Q4 2024 with a 26% increase in revenue to $944 million and net income of $97 million, or $2.34 per diluted share, compared to $18 million, or $0.42 per diluted share in Q4 2023. The company's block hour production increased by 20%, reflecting improvements in captain availability. SkyWest also took delivery of four new E175 aircraft and reached a multi-year contract extension with American Airlines.

SkyWest reported a strong Q3 2024, with a notable increase in net income to $90 million, or $2.16 per diluted share, compared to $23 million, or $0.55 per diluted share in Q3 2023. Revenue also increased to $913 million, up 19% from $766 million in the same quarter last year. The company reached an agreement with United Airlines to place 40 CRJ550s under a multi-year contract and took delivery of nine E175 partner-financed aircraft.

SkyWest, Inc. reported a net income of $76 million, or $1.82 per diluted share, for Q2 2024, compared to a net income of $15 million, or $0.35 per diluted share, for Q2 2023. Revenue increased by 19% to $867 million. The company took delivery of eight E175 partner-financed aircraft and saw a 12% increase in block hour production.

SkyWest, Inc. reported financial results for Q1 2024, including a net income of $60 million, or $1.45 per diluted share, compared to a net loss of $22 million, or $0.45 loss per share, for Q1 2023. Revenue increased by 16% to $804 million, and block hour production increased by 5%.

SkyWest, Inc. reported a net income of $18 million, or $0.42 per diluted share, for Q4 2023, a significant improvement from the net loss of $47 million, or $0.93 loss per share, in Q4 2022. The company's revenue increased by 10% to $752 million, driven by flying contract rate increases and higher production. SkyWest repurchased 1.0 million shares of common stock for $45 million during the quarter.

SkyWest reported a net income of $23 million, or $0.55 per diluted share, for Q3 2023. The company secured an agreement with United Airlines to place 19 new E175 aircraft under contract and repurchased 1.2 million shares of common stock for $50 million during the quarter.

SkyWest reported a net income of $15 million for Q2 2023, a decrease from $54 million in Q2 2022. Revenue was $726 million, down 9% from $799 million in the previous year, with results reflecting the deferral of $60 million in revenue and a decrease in block hour production.

SkyWest reported a net loss of $22 million, or $0.45 loss per share, for Q1 2023, compared to a net income of $18 million, or $0.35 earnings per diluted share, for Q1 2022. The results were impacted by the deferral of $63 million in revenue related to cash payments received under SkyWest's flying contracts. The company repurchased 5.1 million shares of common stock for $100 million and acquired 32 CRJ aircraft for $125 million during the quarter.

SkyWest, Inc. reported a net loss of $47 million, or $0.93 loss per share, for Q4 2022, compared to net income of $4 million, or $0.09 per diluted share, for Q4 2021. The results reflect deferred revenue related to amended flying contracts and non-cash impairment charges.

SkyWest, Inc. reported a net income of $48 million, or $0.96 per diluted share, for Q3 2022. Revenue increased by 6% to $789 million compared to Q3 2021. The company's E175 fleet contributed significantly to block hour production, and new pilot salary scales were finalized during the quarter.

SkyWest reported a net income of $54 million, or $1.07 per diluted share, for Q2 2022, compared to a net income of $62 million, or $1.22 per diluted share, for Q2 2021. Revenue increased by 22% to $799 million, primarily due to adding 43 aircraft to its operations and the impact of COVID-19 revenue concessions given in Q2 2021. Operating expenses increased by 31% to $710 million, mainly due to payroll support program grants received in Q2 2021 and operating costs from new aircraft.

SkyWest reported a revenue increase of 38% to $735 million, driven by a 13% rise in block hours. Net income was $18 million, or $0.35 per diluted share, down from $36 million, or $0.71 per diluted share, in Q1 2021. The company had $856 million in cash and marketable securities and total debt of $3.2 billion.

SkyWest reported a net income of $4 million, or $0.09 per diluted share, for Q4 2021, compared to a net loss of $46 million, or $0.93 loss per share, for Q4 2020. The company's financial results improved from 2020 due to the flying demand recovery from COVID-19.

SkyWest reported net income of $10 million, or $0.19 per diluted share, for Q3 2021. Adjusted net income was $74 million, up 119% from Q3 2020. Revenue for the quarter was $745 million, a 63% increase from Q3 2020.

SkyWest, Inc. reported Q2 2021 financial results, including net income of $62 million, or $1.22 per diluted share, compared to a net loss of $26 million, or $0.51 per share, for Q2 2020. Revenue was $657 million in Q2 2021, up from $350 million in Q2 2020, or 88%.

SkyWest, Inc. reported financial and operating results for Q1 2021, including net income of $36 million, or $0.71 per diluted share. Revenue was $535 million, down from $730 million in Q1 2020.

SkyWest reported a net loss of $46 million, or $0.93 loss per share, for Q4 2020, compared to net income of $73 million, or $1.43 per diluted share, for Q4 2019. Revenue was $590 million, down 21% from Q4 2019.

SkyWest, Inc. reported a net income of $34 million for Q3 2020, a decrease compared to $91 million in Q3 2019, primarily due to reduced flight schedules and lower demand caused by the COVID-19 pandemic. The company's revenue was $457 million, down from $760 million in the same period last year. SkyWest is focused on maintaining strong liquidity and delivering on partner objectives during the recovery.

SkyWest, Inc. reported a net loss of $26 million, or $0.51 per share, for Q2 2020, compared to a net income of $88 million, or $1.71 per diluted share, for Q2 2019. The decrease was primarily due to reduced flight schedules and lower demand caused by the COVID-19 pandemic.

SkyWest reported a net income of $30 million for Q1 2020, a decrease compared to Q1 2019. The primary factor was decreased demand in March due to the COVID-19 outbreak. The company is taking actions to maintain liquidity and working with partners on fleet solutions.

SkyWest reported a net income of $73 million, or $1.43 per diluted share, for Q4 2019, compared to a net income of $67 million, or $1.28 per diluted share, for Q4 2018. Revenue was $744 million in Q4 2019, down from $803 million in Q4 2018.