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In a recent transaction reported to the Securities and Exchange Commission, Wade J. Steel, Chief Commercial Officer of SkyWest Inc. (NASDAQ:SKYW), sold 15,000 shares of the company’s common stock. The sales, which took place on May 28, 2025, were executed at prices ranging from $100.9055 to $101.67 per share, totaling approximately $1.52 million.
Following these transactions, Steel holds 119,416 shares directly. Additionally, he has an indirect ownership of 10,451 shares through a 401K plan. These transactions reflect Steel’s ongoing management of his stake in the airline company, which operates regional flights in partnership with major U.S. carriers. The company has demonstrated strong financial health, earning an "GREAT" rating from InvestingPro, with notable stock price momentum showing a 41.56% return over the past year. InvestingPro subscribers have access to 8 additional key insights about SkyWest’s financial performance and outlook.
In other recent news, SkyWest Inc. reported impressive financial results for the first quarter of 2025, surpassing analysts’ expectations for both earnings and revenue. The company achieved an earnings per share (EPS) of $2.42, exceeding the anticipated $2.06, while revenue reached $948 million, slightly above the forecast of $947.06 million. This performance marks an 18% increase in revenue year-over-year and highlights the company’s effective operational execution. Additionally, SkyWest announced a significant expansion of its share repurchase program, increasing the authorization by $250 million, bringing the total available for repurchase to approximately $272 million. The company’s board has authorized these buybacks to be executed at management’s discretion, depending on market conditions. Furthermore, SkyWest received tentative approval from the Department of Transportation for its charter service, positioning the company for potential growth in underserved markets. The firm is also expanding its fleet with new aircraft orders, which aligns with its strategic growth initiatives. These developments underscore SkyWest’s robust financial health and strategic focus on growth opportunities.
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