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SkyWest (SKYW) investor relations material
SkyWest Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 net income was $119.5M, or $3.08 per diluted share, versus $116.4M and $2.81 in Q3 2025.
Revenue rose 6.4% to $1,117.4M; block-hour production increased 4.5%, while fuel, labor and other operating costs pressured segment profit.
Strategic priorities include debt reduction, E175 growth, CRJ fleet conversions and disciplined capital deployment; investments are expected to deliver economic benefits in 2028.
Financial highlights
Q3 operating income was $176.0M versus $174.1M; pretax income was $159.5M versus $157.2M, and net income was $119.5M versus $116.4M.
Revenue comprised $866M contract, $218M prorate and charter, and $33M leasing and other revenue; flying-agreement revenue rose 7.2% to $1,084.1M.
Q3 operating expenses rose 7% to $941.3M; salaries, wages and benefits increased to $429.7M from $391.6M, and fuel expense to $66.3M from $34.2M.
9M revenue rose 6.6% to $3,233.3M, while operating income fell to $455.5M from $483.6M and net income to $321.9M from $337.2M; diluted EPS was $8.11 versus $8.14.
Q3 GAAP results included $23M of previously deferred revenue; $190.4M remained deferred at quarter-end.
Outlook and guidance
FY 2026 block-hour production is expected up ~5% YoY; GAAP EPS is expected near $10.60, assuming Q4 prorate fuel at $4.90/gallon on 14M gallons.
2027 block hours are expected up 1%–2% YoY, with EPS similar to 2026; 18 E175 deliveries and fleet initiatives support cash earnings.
2027 guidance assumes $4.30/gallon on 60M prorate gallons; each $1 reduction from that average could add $1.20 of EPS.
2027 deferred-revenue recognition is expected near $70M versus ~$100M in 2026, a non-cash comparative EPS headwind of ~$0.60.
FY 2026 CapEx is expected near $725M; 2027 CapEx near $825M, including $525M for 18 E175s, $200M for maintenance and $100M for CRJ initiatives.
- Q2 2026: Revenue up 7%, net income down on costs; fleet expansion and buybacks continue.SKYW
Q2 2026 - Director elections and all management proposals passed; labor rights proposal failed.SKYW
AGM 2026 - Q1-26 delivered robust earnings, fleet upgrades, and industry recognition, with 57% debt-free assets.SKYW
Investor presentation - Q1 net income hit $102M on 7% revenue growth, with strong demand and rising costs.SKYW
Q1 2026 - Board recommends all management proposals and opposes labor rights proposal amid strong performance.SKYW
Proxy filing - Director elections, executive pay, auditor ratification, and a labor policy proposal are on the ballot.SKYW
Proxy filing - Full-year net income rose 33% to $428M, with 2026 EPS guided to the mid-$11 range.SKYW
Q4 2025 - Q3 net income hit $116.4M with 15% revenue growth and major fleet expansion plans.SKYW
Q3 2025 - Q3 2024 net income hit $90M on 19% revenue growth and major fleet expansion.SKYW
Q3 2024
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