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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.
SkyWest
SkyWest
SkyWest Revenue by Segment
Revenue by Segment
Flying Agreements Revenue
CapyFin.comLease & Other Revenue
CapyFin.com 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