SkyWest Q1 net income falls 50% to $18M ($0.35 EPS); revenue up 38% to $735M

SKYWEST INC

2022-Q1 EPS reported $0.35 revenue$735,152,000

Net income $18M, diluted EPS $0.35, vs $36M ($0.71) in Q1 2021; pre-tax income $25M.
Revenue $735M, up 38% YoY; operating expenses $683M, up 51% reflecting absence of payroll grants.
Cash & marketable securities $856M; total debt $3.2B; CapEx $114M for four E175s for Alaska.
47 E175 aircraft to enter service by early 2023 under agreements with American (20), Delta (16), Alaska (11).
CEO notes pilot imbalance constrains monetizing strong demand; named Forbes Best Large Employer.

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