SkyWest Q3 2022 Earnings Report
Key Takeaways
SkyWest, Inc. reported a net income of $48 million, or $0.96 per diluted share, for Q3 2022. Revenue increased by 6% to $789 million compared to Q3 2021. The company's E175 fleet contributed significantly to block hour production, and new pilot salary scales were finalized during the quarter.
Pre-tax income was $57 million, with a net income of $48 million, resulting in $0.96 per diluted share.
Two E175 aircraft were delivered for American Airlines and seven E175 aircraft for Delta Air Lines, as part of previous agreements.
SkyWest's E175 fleet accounted for over 50% of the company's block hour production during the quarter, reflecting the execution of its fleet strategy.
Operational performance was strong with 99.9% adjusted completion during the busy summer season.
SkyWest
SkyWest
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 and expects to finance the future E175 deliveries through debt. However, the anticipated future delivery dates are subject to change.
Revenue & Expenses
Visualization of income flow from segment revenue to net income