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SkyWest
🇺🇸 NASDAQ:SKYW
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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.

Total Revenue
$745M
Previous year: $457M
+62.8%
EPS
$1.45
Previous year: $0.66
+119.7%
Gross Profit
$85.1M
Previous year: -$56.1M
-251.8%
Cash and Equivalents
$913M
Previous year: $822M
+11.0%
Free Cash Flow
$186M
Previous year: $55.7M
+234.7%
Total Assets
$6.94B
Previous year: $6.76B
+2.7%

SkyWest

SkyWest

SkyWest 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

Company Overview

Full financial data and analysis

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