The 10-second takeaway
For the quarter ended Sep. 30 (Q3), SkyWest whiffed on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share increased.
Margins expanded across the board.
SkyWest booked revenue of $865.3 million. The six analysts polled by S&P Capital IQ expected a top line of $964.6 million on the same basis. GAAP reported sales were 9.4% lower than the prior-year quarter's $955.4 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 $0.40. The seven earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. GAAP EPS of $0.40 for Q3 were much higher than the prior-year quarter's $0.00 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 20.4%, 430 basis points better than the prior-year quarter. Operating margin was 6.4%, 340 basis points better than the prior-year quarter. Net margin was 2.4%, 240 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $939.1 million. On the bottom line, the average EPS estimate is $0.26.
Next year's average estimate for revenue is $3.76 billion. The average EPS estimate is $0.88.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on SkyWest is hold, with an average price target of $10.17.
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