SKYWEST INC (SKYW) Form 10-Q — Oct 30, 2026
SkyWest reported Q3 2026 total operating revenues of $1.12 billion, up 6.4% year over year, with net income of $119.5 million or $3.08 per diluted share versus $116.4 million or $2.81 a year ago. Prorate and charter revenue surged 30.4% to $217.8 million on strong prorate demand. Expense pressure offset some of the revenue strength: fuel expense on prorate/charter flying jumped 93.8% to $66.3 million as average fuel cost per gallon rose from $3.04 to $4.56, and passenger load factor fell 3 points to 81.0%. A change in accounting estimate (E175 useful lives extended from 22 to 30 years) reduced depreciation by $18.5 million and added $0.36 to Q3 diluted EPS.
Key figures
- Eps
- 3.08
- Revenue
- 1117355000
- Net Income
- 119523000
- Total Debt
- 2378742000
- Revenue Yoy
- 6.4%
- Total Assets
- 7508746000
- Cash Position
- 71751000
- Shares Outstanding
- 38034157
- Q3 eps prior year
- 2.81
- Nine month revenue
- 3233283000
- Total fleet aircraft
- 645
- Marketable securities
- 497177000
- Nine month net income
- 321915000
- Q3 revenue prior year
- 1050029000
- Shares repurchased 9m
- 2,353,281 for $224.8M at avg $95.53
- Nine month diluted eps
- 8.11
- Aircraft under contract
- 522
- Passenger load factor q3
- 81.0% vs 84.0%
- Q3 net income prior year
- 116358000
- Avg fuel cost per gallon q3
- $4.56 vs $3.04
- Buyback authorization remaining
- 238300000
- Total firm aircraft commitments
- 2058458000
- Depreciation estimate change benefit 9m
- $18.5M ($14.0M net income, +$0.36 diluted EPS in Q3)
AI analysis
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