SkyWest, Inc. (NASDAQ:SKYW) Q3 2022 Results Earnings Conference Call October 27, 2022 4:30 PM ET Company Participants Robert Simmons - Chief Financial Officer Eric Woodward - Chief Accounting Officer Chip Childs - President and Chief Executive Officer Wade Steel - Chief Commercial Officer Conference Call Participants Michael Linenberg - Deutsche Bank Savanthi Syth - Raymond James Dwayne Pfennigwerth - Evercore ISI Operator Okay. Good afternoon. My name is Emma and I will be your conference operator today. A ...

SKYV INCORPORATED SkyWest INVESTOR UPDATE Q3 2022 UNITED $ ▲ DELTA 莎 Prove SKYWEST 1 SINCE 1975 Skywest SkyWest Forward Looking Statements In addition to historical information, this presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "forecasts," "expects," "intends," "believes," "anticipates," "estimates," "should," "likely" and similar expressions identify forward-looking statements. Such statements include, but are no ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14719 SKYWEST, INC. 444 South River Road St. George, Utah 84790 (435) 634-3000 (Address of principal executive offices and telephone number) Sec ...

SkyWest, Inc. (NASDAQ:SKYW) Q2 2022 Results Conference Call July 28, 2022 4:30 PM ET Company Participants Rob Simmons - CFO Chip Childs - President and CEO Wade Steel - CCO Eric Woodward - CAO Conference Call Participants Savi Syth - Raymond James Michael Linenberg - Deutsche Bank Helane Becker - Cowen Operator Good day and welcome to the SkyWest Inc. Second Quarter 2022 Earnings Call. [Operator Instructions] I would now like to turn the conference over to Mr. Robert Simmons, Chief Financial Officer. Sir, p ...

Table of Contents Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14719 SKYWEST, INC. SECURITIES AND EXCHANGE COMMISSION Incorporated under the laws of Utah 87-0292166 (I.R.S. Employer ID No.) 444 South River Road St. George, Utah 84790 (435) 6 ...

Financial Data and Key Metrics Changes - The company reported a first quarter GAAP net income of $17.7 million, or $0.35 diluted earnings per share, with a pre-tax income of $24.8 million [22] - Total Q1 revenue was $735 million, down 5% sequentially from Q4 2021 but up 38% from Q1 2021 [23] - The effective tax rate for Q1 was 28% [22] Business Line Data and Key Metrics Changes - Contract revenue decreased by 2% from Q4 2021 but increased by 42% from Q1 2021 [23] - Prorate revenue was $79 million in Q1, down 28% from Q4 2021 but up 15% from Q1 2021 [23] - Leasing and other revenue increased by 7% sequentially and 16% year-over-year [23] Market Data and Key Metrics Changes - The company anticipates a reduction in 2022 production by about 5% compared to 2021, slightly better than previous estimates [18] - The second quarter is expected to perform better than the first quarter, while the second half of the year is projected to be lower due to crew imbalance [30] Company Strategy and Development Direction - The company plans to place 46 new E175s into service within the next 12 months, aiming for a total of 240 E175s by early next year [7] - A focus on maintaining a robust hiring pipeline and addressing pilot attrition through various incentives and career pathways [12][19] - The company filed a 90-day termination notice for 29 communities to manage staffing imbalances while exploring partnerships with other airlines to maintain service [15][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for regional flying, particularly as communities seek better connectivity post-pandemic [19] - The staffing imbalance and ongoing refleeting are expected to constrain production into late 2023 to early 2024 [13] - The company remains committed to investing in its fleet and addressing pilot shortages to position itself strongly for future growth [20][33] Other Important Information - The company ended Q1 with cash of $856 million, essentially flat from the previous quarter, and expects total 2022 CapEx to be approximately $800 million [26][29] - The company has over $1 billion of unpledged collateral available for additional liquidity if needed [27] Q&A Session Summary Question: Is the improved block hour outlook due to better pilot hiring and training? - The company optimized block hours based on fleet mix changes and found stabilization in some models, aiding in more accurate predictions [45] Question: How is pilot attrition trending? - Pilot attrition has remained flat since the last quarter, with expectations for a lighter summer and a potential increase in the fall [46] Question: Are there plans to invest in training capacity? - The primary issue is time for first officers to gain experience to upgrade, not a training capacity problem [51] Question: What are the implications of the pilot shortage on future production? - The company is preparing for a wide range of outcomes, with expectations to recover pilot numbers starting in late 2023 [70] Question: What opportunities exist in the leasing business? - There is strong demand for CRJ200s and engines, with interest from smaller airlines looking to lease from the company [78]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 0-14719 SKYWEST, INC. Incorporated under the Laws of Utah 87-0292166 (IRS Employer ID No.) 444 South River Road St. George, Utah 84790 (435) 634-3000 Securities Registered Pursuant to Section 12(b) of the Act: ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE ...

SkyWest Inc. (NASDAQ:SKYW) Q4 2021 Earnings Conference Call February 3, 2022 4:30 PM ET Company Participants Rob Simmons - Chief Financial Officer Eric Woodward - CAO Chip Childs - CEO, President and Director Wade Steel - Chief Commercial Officer Conference Call Participants Savi Syth - Raymond James Mike Linenberg - Deutsche Bank Duane Pfennigwerth - Evercore Helane Becker - Cowen Catherine O'Brien - Goldman Sachs Operator Good day and thank you for standing by. Welcome to the SkyWest Inc. Fourth Quarter 2 ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14719 SKYWEST, INC. Incorporated under the laws of Utah 87-0292166 (I.R.S. Employer ID No.) 444 South River Road St. George, Utah 84790 (43 ...

Financial Data and Key Metrics Changes - The company reported Q3 2021 GAAP net income of $10 million, or $0.19 diluted earnings per share, with adjusted net income of $74 million, or $1.45 diluted earnings per share [16][17] - Total Q3 revenue was $745 million, up 63% from Q3 2020 and up 13% from the previous quarter, only down 2% from Q3 2019 [18] - Q3 pretax income was $14 million on a GAAP basis and $99 million on an adjusted basis [16][17] Business Line Data and Key Metrics Changes - Contract revenue increased by 54% year-over-year and 12% sequentially, while prorate revenue was $128 million, up 111% year-over-year and 24% from the previous quarter [18][19] - Leasing and other revenue rose by 107% year-over-year and 7% sequentially [19] Market Data and Key Metrics Changes - The company achieved a 99.8% adjusted completion rate for Q3, with nearly 73,000 more scheduled flights compared to the same quarter last year [10] - The company anticipates a decrease in block hours by approximately 5% in Q4 compared to Q3 2021, with expectations for 2022 to be slightly higher than 2019 levels [29] Company Strategy and Development Direction - The company is focused on fleet transition, taking delivery of six new E175s and securing agreements for 16 additional E175s with Delta and nine with Alaska [8][26] - The company aims to maintain flexibility in its prorate model to allocate resources toward the best economic opportunities [9][30] Management's Comments on Operating Environment and Future Outlook - Management noted that 2022 is expected to be a transition year, with strong demand for products and a focus on preserving liquidity while executing recovery strategies [14][23] - The company does not expect additional grant income in Q4 and anticipates some softening in production schedules [23] Other Important Information - The company ended Q3 with cash of $913 million and total debt of $3 billion, down from $3.2 billion at year-end 2020 [21][22] - The company experienced an IT server disruption that affected operations, with potential costs estimated between $15 million to $20 million in Q4 [11][24] Q&A Session Summary Question: What are the current attrition levels among pilots? - Management indicated that attrition has increased to double digits but hiring and training are outpacing attrition rates [38][56] Question: How is the prorate segment being managed? - The prorate model has flexibility, allowing for reallocation of pilots and aircraft to contract models as business demand fluctuates [40][41] Question: What lessons were learned from the recent IT disruption? - Management clarified that the server outage was not directly caused by malware but was part of system repairs, emphasizing the need for improved processes to prevent future occurrences [47][50] Question: How is the company addressing supply chain issues in maintenance? - The company is navigating supply chain challenges by conducting some inspections internally and working closely with third-party providers [69] Question: What is the outlook for the 50-seater fleet in light of higher fuel prices? - Demand for the 50-seater fleet remains strong, but higher fuel prices may pose challenges, with flexibility to reallocate block hours as needed [62]