SkyWest (SKYW) Posts Q4 GAAP Loss of 54c/Share

SkyWest (NASDAQ: SKYW) reported Q4 EPS of ($0.54), which may not compare with the analyst estimate of $0.13. Revenue for the quarter came in at $813.9 million versus the consensus estimate of $768.46 million.

The December 2014 quarter includes special item expenses of $70.0 million pre-tax ($43.6 million after-tax) due to the accelerated retirement of SkyWest's EMB-120 turboprop aircraft and a code-share agreement modification that shortened the contract term for ExpressJet's operation of the ERJ145 aircraft type.

SkyWest's pre-tax income for the December 2014 quarter, excluding special items, increased 122% from the December 2013 quarter, despite a 6.6% reduction in departures and a 4.4% reduction in completed block hours, from the December 2013 quarter. Excluding the special items, the increase in pre-tax income from the December 2013 quarter was primarily due to higher unit revenue from new and renewed flying arrangements at improved rates.

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

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