SkyWest (SKYW) came out with quarterly earnings of $2.16 per share, beating the Zacks Consensus Estimate of $1.92 per share. This compares to earnings of $0.55 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.50%. A quarter ago, it was expected that this regional airline would post earnings of $1.73 per share when it actually produced earnings of $1.82, delivering a surprise of 5.20%.Over the last four quarters, the company ...

Financial Performance - Q3 2024 pre-tax income of $116 million, net income of $90 million, or $2.16 per diluted share[1] - Revenue increased by 19% to $913 million in Q3 2024 compared to $766 million in Q3 2023[3] - Operating expenses rose by 9% to $781 million in Q3 2024 from $717 million in Q3 2023[4] - SkyWest had $836 million in cash and marketable securities as of September 30, 2024[5] - Cash and marketable securities increased slightly to $836,042 thousand as of September 30, 2024, compared to $835,223 thousand at the end of 2023[18] - Total assets decreased to $6,956,600 thousand as of September 30, 2024, from $7,026,293 thousand at the end of 2023[18] Debt and Share Repurchase - Total debt decreased to $2.7 billion as of September 30, 2024, down from $3.0 billion at December 31, 2023[5] - Long-term debt decreased to $2,196,548 thousand as of September 30, 2024, from $2,562,183 thousand at the end of 2023[18] - SkyWest repurchased 217,000 shares of common stock for $16.3 million during Q3 2024[6] Aircraft and Contracts - SkyWest reached an agreement with United Airlines to place 40 CRJ550s under a multi-year contract, including acquiring 11 used CRJ550s and converting 29 CRJ700s[8] - SkyWest received 20 E175 partner-financed aircraft deliveries year-to-date Q3 2024[9] - By the end of 2026, SkyWest is scheduled to operate a total of 278 E175 aircraft[7] - Cumulative deferred revenue under flying contracts was $342 million as of September 30, 2024[3] - Total aircraft in service or under contract remained stable at 484 as of September 30, 2024, compared to 485 at the end of 2023[20] - E175 aircraft increased to 258 as of September 30, 2024, up from 237 at the end of 2023[20] Operational Metrics - Total block hours increased by 15.0% to 334,459 for the three months ended September 30, 2024, compared to the same period in 2023[22] - Passengers carried increased by 10.3% to 11,263,322 for the three months ended September 30, 2024, compared to the same period in 2023[22] - Adjusted flight completion remained stable at 99.9% for the three months ended September 30, 2024, consistent with the same period in 2023[22] - Passenger load factor decreased by 1.4 percentage points to 83.7% for the three months ended September 30, 2024, compared to the same period in 2023[22] - Average trip length increased by 2.0% to 455 miles for the three months ended September 30, 2024, compared to the same period in 2023[22]

SkyWest (SKYW) is scheduled to release third-quarter 2024 results on Oct. 31, after market close. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. The Zacks Consensus Estimate for the to-be-reported quarter's earnings and revenues is pegged at $1.92 per share and $887.48 million, respectively. The earnings estimate for the to-be-reported quarter has remained stable in the past 60 days. The bottom-line expectation indicates year-over-year growth of 249.1%. The Zacks Consensus Estimate ...

Company Overview - SkyWest, Inc. is a regional airline operating company with a market capitalization of $3.8 billion, based in Saint George, Utah, and founded in 1972 [2] - The company operates two main businesses: SkyWest Airlines and SkyWest Leasing, providing both flight services and aircraft rentals [2] Business Operations - SkyWest Airlines is involved in passenger air transportation, while SkyWest Leasing focuses on the rental of aircraft [2] - The company has a diversified operational model that includes both flying and leasing, which may provide stability and growth opportunities [2]

Core Viewpoint - Analyst recommendations play a significant role in influencing stock prices, but their reliability is questionable, particularly for SkyWest (SKYW) [1][2]. Group 1: Analyst Recommendations - SkyWest has an average brokerage recommendation (ABR) of 1.75, indicating a consensus between Strong Buy and Buy, with 50% of recommendations as Strong Buy and 25% as Buy [1]. - Despite the positive ABR, studies suggest that brokerage recommendations often do not effectively guide investors towards stocks with the highest price increase potential [2]. Group 2: Zacks Rank vs. ABR - Zacks Rank categorizes stocks from 1 (Strong Buy) to 5 (Strong Sell) and is based on earnings estimate revisions, which correlate strongly with near-term stock price movements [3][5]. - The ABR is based solely on brokerage recommendations and may not be as timely or accurate as the Zacks Rank, which reflects real-time earnings estimate changes [4][6]. Group 3: Current Performance of SkyWest - The Zacks Consensus Estimate for SkyWest remains unchanged at $6.88, indicating steady analyst views on the company's earnings prospects [7]. - The unchanged consensus estimate has resulted in a Zacks Rank of 3 (Hold) for SkyWest, suggesting caution despite the Buy-equivalent ABR [7].

Company Performance - SkyWest's stock closed at $87.35, reflecting a +0.9% change from the previous day, outperforming the S&P 500's gain of 0.71% [1] - The stock has increased by 15.88% over the past month, significantly higher than the Transportation sector's gain of 3.49% and the S&P 500's gain of 6.41% [1] Upcoming Earnings - SkyWest is set to release its earnings report on October 31, 2024, with an anticipated EPS of $1.92, representing a 249.09% increase year-over-year [2] - The consensus estimate for quarterly revenue is $887.48 million, which is a 15.83% increase from the same period last year [2] Annual Forecast - The Zacks Consensus Estimates project earnings of $6.88 per share and revenue of $3.44 billion for the year, indicating increases of +793.51% and +17.12% respectively compared to the previous year [3] - Recent analyst estimate revisions suggest a positive outlook for SkyWest's business and profitability [3] Analyst Ratings - The Zacks Rank system, which assesses estimate changes, indicates that stocks rated 1 (Strong Buy) have historically delivered an average annual return of +25% since 1988 [5] - Currently, SkyWest holds a Zacks Rank of 3 (Hold), with no changes in the consensus EPS estimate over the past month [5] Valuation Metrics - SkyWest has a Forward P/E ratio of 12.58, which is above the industry average Forward P/E of 10.17 [6] - The Transportation - Airline industry is ranked 51 in the Zacks Industry Rank, placing it in the top 21% of over 250 industries [6]

Core Viewpoint - The average brokerage recommendation (ABR) for SkyWest (SKYW) is 1.75, indicating a consensus leaning towards a "Buy" rating, but caution is advised as brokerage recommendations may not reliably predict stock performance [2][3]. Group 1: Brokerage Recommendations - SkyWest has an ABR of 1.75, which is between "Strong Buy" and "Buy," with 50% of recommendations being "Strong Buy" and 25% being "Buy" [2]. - Brokerage analysts tend to exhibit a strong positive bias in their ratings, often issuing five "Strong Buy" recommendations for every "Strong Sell" [4][8]. - The ABR is based solely on brokerage recommendations and may not reflect the actual price movement of the stock [7][10]. Group 2: Zacks Rank vs. ABR - The Zacks Rank, which is a quantitative model based on earnings estimate revisions, is a more reliable indicator of near-term stock performance compared to the ABR [6][9]. - The Zacks Rank is updated more frequently and reflects changes in earnings estimates, making it a timely tool for predicting future price movements [10]. - SkyWest currently holds a Zacks Rank of 3 (Hold), indicating a cautious outlook despite the positive ABR [12]. Group 3: Earnings Estimates - The Zacks Consensus Estimate for SkyWest's earnings remains unchanged at $6.88 for the current year, suggesting stability in analysts' views on the company's earnings prospects [11]. - The lack of change in the consensus estimate may lead to SkyWest performing in line with the broader market in the near term [11].

SkyWest (NASDAQ: SKYW ) is the largest regional airline in the US with a fleet of 600 (475 owned) aircraft, flying scheduled passengers across and within the US, Canada and Mexico. SkyWest doesn't operate as a traditional I'm an IMC qualified contributor who's followed financial markets for 5 years and has worked professionally in primary investment research for over 2 years. I'm a generalist who enjoys researching businesses from a buttom's up angle with a deep interest in smaller under covered companies w ...

SkyWest's (SKYW) top line is boosted by the increased air travel demand. The company's proactive measures to expand its fleet are praiseworthy. However, SKYW's financial stability, challenged by escalated operating expenses and weak liquidity, is hurting the company's bottom line. Factors Favoring SKYW Upbeat air travel demand bodes well for SkyWest's prospects, boosting the company's charter revenues. Currently, SkyWest operates 16 aircraft under SkyWest Charter or SWC and anticipates strong growth in onde ...

SkyWest (SKYW) closed at $78.87 in the latest trading session, marking a -0.94% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Elsewhere, the Dow saw a downswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.2%. Shares of the regional airline witnessed a gain of 7.7% over the previous month, beating the performance of the Transportation sector with its gain of 3.7% and the S&P 500's gain of 1.54%. The investment community will be paying close attenti ...