The 10-second takeaway
For the quarter ended March 31 (Q1), SkyWest met expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP loss per share dropped.
Margins expanded across the board.
SkyWest reported revenue of $921.2 million. The five analysts polled by S&P Capital IQ looked for sales of $912.9 million on the same basis. GAAP reported sales were 6.4% higher than the prior-year quarter's $866.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.01. The five earnings estimates compiled by S&P Capital IQ forecast -$0.15 per share. GAAP EPS were -$0.01 for Q1 compared to -$0.21 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.1%, 80 basis points better than the prior-year quarter. Operating margin was 2.2%, 210 basis points better than the prior-year quarter. Net margin was -0.1%, 120 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $941.8 million. On the bottom line, the average EPS estimate is $0.12.
Next year's average estimate for revenue is $3.75 billion. The average EPS estimate is $0.56.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on SkyWest is hold, with an average price target of $12.80.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.