SkyWest Q4 net income $18M ($0.42/sh) vs year-ago loss; revenue up 10%; acquires 25% of Contour Airlines

SKYWEST INC

2023-FY EPS reported $0.77 revenue$2,935,432,000

Q4 2023 net income $18M ($0.42 diluted EPS) vs net loss of $47M ($0.93 loss) in Q4 2022.
Revenue $752M (+10% YoY); operating expenses $724M (incl. $36M non-cash impairment in Q4 2022).
Full year 2023 net income $34M ($0.77/sh) vs $73M ($1.44/sh) in 2022.
Repurchased 1.0M shares for $45M in Q4; full year 10.6M shares for $289M (21% of outstanding).
Acquired 25% ownership stake in Contour Airlines plus asset provisioning agreement for CRJ parts.

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 the year ended December 31, 2023 results: net income $34 million, EPS $0.77 per diluted share.

Period: the year ended December 31, 2023
Net income: $34 million
EPS: $0.77 per diluted share
Result: reported results

Exact text from the filing

SkyWest also reported net income of $34 million, or $0.77 per diluted share, for the 2023 year, compared to net income of $73 million, or $1.44 per diluted share, for the 2022 year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SKYWEST INC reported the three months ended December 31, 2023 results: revenue $752 million, net income $18 million, EPS $0.42 per diluted share.

Period: the three months ended December 31, 2023
Revenue: $752 million
Net income: $18 million
EPS: $0.42 per diluted share
Result: reported results

Exact text from the filing

as of December 31, 2022. As of December 31, 2023, SkyWest had $91 million of remaining availability under its current share repurchase program. 1 Financial Results Revenue was $752 million in Q4 2023, up $71 million, or 10%, from $681 million in Q4 2022, primarily due to flying contract rate increases combined with 2% higher production in Q4 2023, compared to Q4

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SKYWEST INC filing history →

Source: SEC EDGAR

accession 0001558370-24-000690

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