The 10-second takeaway
For the quarter ended March 31 (Q1), SkyWest missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share expanded. GAAP earnings per share expanded.
Gross margins increased, operating margins dropped, net margins grew.
SkyWest chalked up revenue of $803.5 million. The five analysts polled by S&P Capital IQ expected to see revenue of $824.2 million on the same basis. GAAP reported sales were 13% lower than the prior-year quarter's $921.2 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 $0.11. The four earnings estimates compiled by S&P Capital IQ averaged $0.03 per share. Non-GAAP EPS were $0.11 for Q1 versus -$0.01 per share for the prior-year quarter. GAAP EPS were $0.06 for Q1 against -$0.01 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 17.2%, 210 basis points better than the prior-year quarter. Operating margin was 1.9%, 30 basis points worse than the prior-year quarter. Net margin was 0.4%, 50 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $883.0 million. On the bottom line, the average EPS estimate is $0.37.
Next year's average estimate for revenue is $3.43 billion. The average EPS estimate is $1.23.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on SkyWest is hold, with an average price target of $11.17.
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