SkyWest Earnings: Everything You Must Know Now

SkyWest Inc. (NASDAQ:SKYW) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

SkyWest Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $0.27 in the quarter versus EPS of $-0.35 in the year-earlier quarter.

Revenue: Decreased 9.91% to $810.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: SkyWest Inc. reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.19. It missed the average revenue estimate of $819.86 million.

Quoting Management: Commenting on the results, Jerry C. Atkin, SkyWest’s Chairman and CEO, said “We are very pleased with our operating and financial results for the quarter ended December 31, 2012. This is a solid result for a quarter that can typically be very challenging.” He continued, “We continue to make positive progress in our cost reduction efforts that are resulting in improved profits, quarter over quarter.”

Key Stats (on next page)…

Revenue decreased 6.31% from $865.26 million in the previous quarter. EPS decreased 32.5% from $0.40 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.18 to a profit $0.11. For the current year, the average estimate has moved down from a profit of $0.95 to a profit of $0.91 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)