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ST. GEORGE, Utah - SkyWest Inc. (NASDAQ:SKYW) reported first quarter earnings and revenue that exceeded analyst expectations, sending shares up 3.2% in after-hours trading Thursday.
The regional airline operator posted adjusted earnings per share of $2.42 for Q1 2025, beating the consensus estimate of $2.06. Revenue came in at $948.46 million, slightly above analyst projections of $947.06 million and up 18% YoY.
SkyWest’s block hour production increased 22% compared to Q1 2024, reflecting improvements in pilot availability, higher fleet utilization and strong demand. The company reported net income of $101 million for the quarter, up from $60 million in the same period last year.
"Although the airline industry is dealing with uncertain macroeconomic factors, demand for our product remains solid," said CEO Chip Childs. "We continue to be committed to adding value to our partners’ network strategies, improving daily scheduled service to smaller communities, and deploying our capital to improve our fleet for long-term opportunities."
The company ended the quarter with $751 million in cash and marketable securities. SkyWest repurchased 141,000 shares for $13.7 million during Q1 at an average price of $97.27 per share.
Looking ahead, SkyWest expects to operate a total of 278 E175 aircraft by the end of 2026. The company also reached a multi-year contract extension with Delta Air Lines (NYSE:DAL) for five CRJ700 and 11 CRJ900 aircraft.
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