SkyWest Q1 2022 Earnings Report
Key Takeaways
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.
Revenue increased by 38% to $735 million due to a rise in block hours and reduced COVID-19 revenue concessions.
Net income decreased to $18 million, or $0.35 per diluted share, compared to $36 million, or $0.71 per diluted share, in Q1 2021.
Operating expenses increased to $683 million, primarily due to the absence of payroll support program grants.
SkyWest had $856 million in cash and marketable securities and total debt of $3.2 billion.
SkyWest
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SkyWest Revenue by Segment
Forward Guidance
SkyWest is coordinating with its major airline partners to optimize the timing of upcoming fleet deliveries under previously announced agreements. The anticipated future delivery dates summarized below are based on currently available information and are subject to change.
Revenue & Expenses
Visualization of income flow from segment revenue to net income