Business
SkyWest, Inc. Announces First Quarter 2026 Profit
First Quarter 2026 Summary Q1 2026 pre-tax income of $108 million, net income of $102 million, or $2.50 per diluted share As recently announced, SkyWest
About this update from Skywest, Inc.
First Quarter 2026 Summary Q1 2026 pre-tax income of $108 million, net income of $102 million, or $2.50 per diluted share As recently announced, SkyWest expects to convert its 50-seat, single-class CRJ200 aircraft to a new 41-seat, dual-class configuration (“CRJ450”) SkyWest took delivery of one new E175 aircraft in Q1 2026 under a previously announced agreement with Alaska Airlines ST. GEORGE, Utah--(BUSINESS WIRE)-- SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today reported financial and operating results for Q1 2026, including net income of $102 million, or $2.50 per diluted share, compared to net income of $101 million, or $2.42 per diluted share, for Q1 2025. SkyWest’s Q1 2026 net income included a discrete income tax benefit of $12 million, or $0.29 per diluted share, compared to Q1 2025. Commenting on the results, Chip Childs, President and Chief Executive Officer of SkyWest, said, “Demand for our product remains solid, and we continue to re-invest in our fleet, creating long-term value for our customers, our people, and our shareholders. We look forward to operating the CRJ450 aircraft later this year, with a redesigned cabin that includes Wi-Fi service. The new CRJ450 aircraft further demonstrates the value our fleet flexibility provides to our customers. I want to thank our people for their good work through the challenging winter conditions of the first quarter.” Financial Results Revenue was $1.0 billion in Q1 2026, up $65 million, or 7%, from $948 million in Q1 2025. SkyWest’s Q1 2026 block hour production increased 3% compared to Q1 2025, which reflects higher fleet utilization year-over-year and strong demand. Operating expenses were $889 million in Q1 2026, up $80 million, or 10%, from $809 million in Q1 2025, driven by an expected increase in incremental direct operating costs associated with higher production and higher pilot training costs in Q1 2026 compared to Q1 2025. Capital and Liquidity SkyWest had $627 million in cash and marketable securities at March 31, 2026, compared to $707 million at December 31, 2025. Total debt at March 31, 2026 was $2.4 billion, flat from December 31, 2025, reflecting $116 million in principal debt payments and $118 million in new debt issued for new aircraft and engine financings during Q1 2026. Capital expenditures during Q1 2026 were $102 million for the purchase of one new E175 aircraft, spare engines, ...