SkyWest Q4 2023 Earnings Report

SkyWest's financial performance improved in Q4 2023, marked by increased revenue and a return to profitability compared to the previous year's loss.

Key Takeaways

SkyWest, Inc. reported a net income of $18 million, or $0.42 per diluted share, for Q4 2023, a significant improvement from the net loss of $47 million, or $0.93 loss per share, in Q4 2022. The company's revenue increased by 10% to $752 million, driven by flying contract rate increases and higher production. SkyWest repurchased 1.0 million shares of common stock for $45 million during the quarter.

Reported Q4 2023 net income of $18 million, or $0.42 per diluted share, compared to a net loss of $47 million, or $0.93 loss per share, for Q4 2022.

Revenue increased by 10% to $752 million, driven by flying contract rate increases and a 2% increase in production.

Repurchased 1.0 million shares of common stock for $45 million during Q4 2023.

Ended the year with $835 million in cash and marketable securities.

Previous year: -$0.93

-145.2%