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Sep 30, 2021
SkyWest Q3 2021 Earnings Report
Reported a profit for the third quarter of 2021, with revenue increasing due to the recovery of flying demand.
Key Takeaways
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.
Pre-tax income was $14 million, with net income at $10 million, or $0.19 per diluted share.
Adjusted net income reached $74 million, or $1.45 per diluted share.
Q3 2021 adjusted net income excludes a non-cash impairment charge on SkyWest’s CRJ900 aircraft of $85 million (pre-tax).
45 new E175 aircraft are scheduled to be placed into service in 2022 and 2023.
Revenue by Segment
Forward Guidance
SkyWest anticipates the impact of the server outage may negatively impact Q4 2021 financial results from $15 million to $20 million (pre-tax).
Challenges Ahead
- Anticipate impact of the outage may negatively impact Q4 2021 financial results from $15 million to $20 million (pre-tax).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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