SkyWest (SKYW) Misses Q1 EPS by 32c, Revenues Beat

SkyWest (NASDAQ: SKYW) reported Q1 EPS of $0.59, $0.32 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $730 million versus the consensus estimate of $715.61 million.

First Quarter Highlights:

• Net income of $30 million, or $0.59 per diluted share
• Placed four of 25 used E175 aircraft into service under a previously announced agreement with United Airlines
• Working with our major airline partners on fleet solutions in response to the COVID-19 demand disruption

Commenting on the results, Chip Childs, Chief Executive Officer of SkyWest, said, "COVID-19 has caused unprecedented disruption across the airline industry. Our priority is the safety and well-being of our people and passengers, and we have taken numerous steps to that end. We are taking aggressive action to maintain strong liquidity and work collaboratively with our partners on flexible fleet solutions during this period of uncertainty. I want to thank our 14,000 employees for their resilience, commitment and flexibility during this pandemic."

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

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