SkyWest Q3 net income $23M ($0.55 EPS) on revenue $766M; new 19-plane United E175 deal

SKYWEST INC

2023-Q3 EPS reported $0.37 revenue$2,183,645,000

Q3 2023 net income $23M vs $48M in Q3 2022; revenue $766M, down 3% YoY.
Secured agreement with United Airlines for 19 new E175s; deliveries late 2024-2026.
Repurchased 1.2M shares for $50M in Q3; 9.6M shares ($244M) YTD.
Operating expenses $717M, up $3M; higher pilot pay partially offset by lower aircraft rent.
Cash & marketable securities $820M at Sept 30, total debt $3.1B.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SKYWEST INC reported the three months ended September 30, 2023 results: revenue $766 million, net income $23 million, EPS $0.55 per diluted share.

Period: the three months ended September 30, 2023
Revenue: $766 million
Net income: $23 million
EPS: $0.55 per diluted share
Result: reported results

Exact text from the filing

of December 31, 2022. As of September 30, 2023, SkyWest had $136 million of remaining availability under its current share repurchase program. 1 Financial Results Revenue was $766 million in Q3 2023, down $23 million, or 3%, from $789 million in Q3 2022. SkyWest deferred recognizing $57 million of revenue during Q3 2023 compared to recognizing previously deferred

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Source: SEC EDGAR

accession 0001558370-23-016844

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