SkyWest Q1 2023 net loss of $22M ($0.45 loss per share) on revenue of $692M, down 6% YoY

SKYWEST INC

2023-Q1 EPS reported -$0.45 revenue$691,831,000

Net loss $22M vs net income $18M in Q1 2022; EPS -$0.45 vs +$0.35.
Revenue $692M, down $43M (6%) YoY; deferred $63M revenue under flying contracts.
Repurchased 5.1M shares for $100M (10% of outstanding) during Q1.
Acquired 24 CRJ700s and 8 CRJ200s under early lease buyout for $125M.
Secured rate amendment with one major partner; all four partners now offset higher crew costs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SKYWEST INC reported Q1 2023 results: revenue $692 million, net income $22 million, EPS $0.45 loss per share.

Period: Q1 2023
Revenue: $692 million
Net income: $22 million
EPS: $0.45 loss per share
Result: reported results

Exact text from the filing

avoids 1 making future lease and lease return cash payments of approximately $90 million, and SkyWest now owns these aircraft and engines. Financial Results Revenue was $692 million in Q1 2023, down $43 million, or 6%, from $735 million in Q1 2022. SkyWest deferred recognizing $63 million of revenue during Q1 2023 compared to recognizing previously deferred

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Source: SEC EDGAR

accession 0001558370-23-007048

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