Skywest Inc Stock Price, News & Analysis

SkyWest reported its Q2 2022 financial results, showing a net income of $54 million or $1.07 per diluted share, compared to $62 million or $1.22 in Q2 2021. Revenue grew 22% to $799 million, driven by the addition of 43 aircraft and higher flying contract revenues. Operating expenses rose 31% to $710 million, partly due to payroll support programs. SkyWest continues to expand its E175 fleet, having delivered six aircraft to Alaska Airlines and two to Delta, with future deliveries planned. As of June 30, 2022, cash and marketable securities reached $975 million.

SkyWest, Inc. (NASDAQ: SKYW) will hold a live conference call and webcast on Thursday, July 28, 2022, at 2:30 p.m. Mountain Time to discuss its second quarter 2022 results. The event will include a presentation followed by a Q&A session. Interested parties can join the webcast at this link. US callers can reach the call at 1-888-440-4038, while international callers can dial 1-646-960-0861. A rebroadcast will be available from July 28, 2022, after 5:30 p.m. MT until August 11, 2022.

SkyWest (NASDAQ: SKYW) reported Q1 2022 financial results with a net income of $18 million, or $0.35 per diluted share, down from $36 million, or $0.71 per share in Q1 2021. Revenue increased by 38% to $735 million, driven by a 13% rise in block hours. Operating expenses rose 51% to $683 million, largely due to payroll support grants in the prior year. The company took delivery of four E175 aircraft for Alaska Airlines and placed seven into service for American Airlines. SkyWest maintains $856 million in cash and anticipates delivering 47 E175 aircraft by early 2023.

SkyWest, Inc. (NASDAQ: SKYW) will host a live conference call and webcast on April 28, 2022, at 2:30 p.m. MT to discuss its first quarter 2022 results. The session will include an overview of the quarterly performance followed by a Q&A. Interested participants can access the webcast via this link. Call-in numbers are 1-888-440-4038 for US callers and 1-646-960-0861 for international callers. A digital rebroadcast will be available from 5:30 p.m. MT on April 28 until May 12, 2022.

Thomas Global has secured SkyWest Airlines as the launch customer to upgrade its CRJ Pro Line 4 flight decks with the TFD-4000 LCD flight displays starting this summer. This retrofit captures significant benefits of AMLCD technology, enhancing reliability and lifecycle costs while restoring supply chain dependability. The TFD-4000, now FAA certified, offers a drop-in solution for legacy CRT displays, significantly improving operational efficiency. Deliveries to SkyWest are expected to commence in mid-2022.

SkyWest reported a positive financial turnaround in Q4 2021, achieving a net income of $4 million, or $0.09 per diluted share, compared to a net loss of $46 million in Q4 2020. For the full year, net income was $112 million, or $2.20 per diluted share. Revenue rose by 32% to $777 million in Q4 2021, driven by a 30% increase in block hours. Despite rising operating expenses of $744 million, SkyWest is optimistic about future fleet expansions in partnership with major airlines and Eve Air Mobility for eVTOL aircraft, emphasizing a commitment to sustainability.

SkyWest, Inc. (NASDAQ: SKYW) will hold a live conference call on February 3, 2022 at 2:30 p.m. MT to discuss its fourth quarter 2021 results. The event will feature a presentation of the quarterly results followed by a Q&A session. Interested parties can join via the provided webcast link. A digital rebroadcast will be available from 5:30 p.m. MT on the same day until February 17, 2022. US and international call-in numbers are also provided for those who wish to participate.

SkyWest (NASDAQ: SKYW) and Eve Air Mobility announced a partnership to purchase 100 electric vertical takeoff and landing (eVTOL) aircraft to develop a deployment network in the U.S. The collaboration aims to enhance Urban Air Mobility operations, focusing on vehicle design and certification. SkyWest views Eve's eVTOL as a sustainable solution, promising zero carbon emissions and improved urban connectivity. This partnership leverages SkyWest's extensive operational experience and Eve's innovative technology, marking a significant step towards sustainable aviation.