SkyWest, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
April 25, 2024 at 04:01 pm EDT
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SkyWest, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 803.61 million compared to USD 691.83 million a year ago. Revenue was USD 803.61 million compared to USD 691.83 million a year ago.
Net income was USD 60.3 million compared to net loss of USD 22.07 million a year ago. Basic earnings per share from continuing operations was USD 1.5 compared to basic loss per share from continuing operations of USD 0.45 a year ago. Diluted earnings per share from continuing operations was USD 1.45 compared to diluted loss per share from continuing operations of USD 0.45 a year ago.
SkyWest, Inc. is the holding company for SkyWest Airlines, Inc. (SkyWest Airlines) and SkyWest Leasing, Inc. (SkyWest Leasing), an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and SWC, and SkyWest Leasing. SkyWest Airlines offers scheduled passenger service to destinations in the United States, Canada and Mexico. The Company's flights are operated as United Express, Delta Connection, American Eagle or Alaska Airlines flights under code-share agreements with United Airlines, Inc., Delta Air Lines, Inc., American Airlines, Inc. or Alaska Airlines, Inc., respectively. SkyWest Airlines has a fleet of approximately 500 aircraft. SkyWest Charter, LLC (SWC) offers on-demand charter service using CRJ200 aircraft in a 30-seat configuration. SkyWest Leasing finances new aircraft with debt under its capacity purchase agreements, consisting of its E175 aircraft. SkyWest Leasing is also engaged in leasing aircraft and engines to third parties.