SkyWest Q1 2023 Earnings Report
Key Takeaways
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.
Reported a Q1 2023 net loss of $22 million, or $0.45 loss per share.
Deferred recognizing $63 million of revenue related to cash payments received during Q1 2023.
Repurchased 5.1 million shares of common stock for $100 million during Q1 2023.
Acquired 24 CRJ700s and eight CRJ200s under an early lease buyout for $125 million.
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SkyWest Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income