SkyWest (SKYW) Tops Q1 Expectations on Top and Bottom Line

SkyWest (NASDAQ: SKYW) reported Q1 EPS of $0.52, $0.27 better than the analyst estimate of $0.25. Revenue for the quarter came in at $7.96 billion versus the consensus estimate of $736.25 million.

SkyWest had $442 million in cash and marketable securities at March 31, 2016, a decrease of $56 million from December 31, 2015. SkyWest made $35 million in scheduled semi-annual aircraft lease pre-payments during Q1 2016. SkyWest issued $68 million in new long-term debt during Q1 2016 to finance the three new E175s delivered during the quarter. Total debt, net of principal payments, increased by $11 million during the quarter.

In the first quarter of 2016, SkyWest made capital investments of $30 million: $12 million in equity toward the purchase of three E175 aircraft, $5 million for a related spare engine, and $13 million in other capital expenditures.

For the second quarter of 2016, SkyWest estimates capital investments of $50 million: $32 million in equity toward the purchase of eight E175 aircraft, $5 million for a related spare engine, and $13 million in other capital expenditures.

For earnings history and earnings-related data on SkyWest (SKYW) click here.

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