Republic Airways (RJET) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 34.3% YoY to $553.5M; GAAP net income was $34.6M and adjusted net income was $39.6M.

• FY2026 adjusted EBITDAR guidance increased to $410M–$420M; Mesa integration advanced, with support functions substantially relocated to Carmel.

Financial highlights

• Q3 operating income was $63.2M vs. $26.9M, pre-tax income was $49.2M vs. $9.2M, and diluted EPS was $0.75 vs. $0.17.

• Adjusted net income was $39.6M and adjusted diluted EPS was $0.85; adjusted EBITDAR was $106.8M vs. $83.6M in Q3 2025.

• Operating expenses rose 27.3% to $490.3M, primarily with expanded flying and related staffing; pass-through revenue increased $49.1M, mainly from maintenance.

• Operating cash flow was $79.0M; unrestricted cash, cash equivalents and marketable securities totaled $290.1M at September 30, 2026.

Outlook and guidance

• FY2026 adjusted EBITDAR guidance rose to $410M–$420M from $395M–$405M; adjusted diluted EPS guidance is above $3.30.

• Revenue guidance of ~$2.1B, block-hour production of 880,000, capex of ~$90M and debt repayments of ~$165M were unchanged.

• Merger integration is expected to conclude in H1 2028; 26 E175 aircraft are scheduled for delivery from 2028 through 2030.