SkyWest Earnings: Here’s Why the Stock is Rising 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. Shares are up 0.13%.

SkyWest Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 18.18% to $0.39 in the quarter versus EPS of $0.33 in the year-earlier quarter.

Revenue: Decreased 10.47% to $839.13 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: SkyWest Inc. reported adjusted EPS income of $0.39 per share. By that measure, the company beat the mean analyst estimate of $0.34. It missed the average revenue estimate of $866.86 million.

Quoting Management: Commenting on the results, Jerry C. Atkin, SkyWest’s Chairman and CEO, said “We are pleased with the progress we continue to make in producing improved operational and financial performance as compared to the same period last year.” He continued, “We will remain focused on our profit improvement objectives while continuing to deal with the ever-present challenges in the airline industry.”

Key Stats (on next page)…

Revenue increased 4.44% from $803.49 million in the previous quarter. EPS increased 550% from $0.06 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 $0.51 to a profit $0.5. For the current year, the average estimate has moved up from a profit of $1.24 to a profit of $1.26 over the last ninety days.

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