SkyWest (SKYW) Misses Q4 EPS by 10c, Revenues Beat

SkyWest (NASDAQ: SKYW) reported Q4 EPS of ($0.93), $0.10 worse than the analyst estimate of ($0.83). Revenue for the quarter came in at $590 million versus the consensus estimate of $522.34 million.

Fourth Quarter and Annual Results

• Q4 2020 pre-tax loss of $59 million, net loss of $46 million, or $0.93 loss per share
• Full year 2020 pre-tax loss of $7 million, net loss of $9 million, or $0.17 loss per share
• Full year 2020 revenue of $2.1 billion, down 28% from 2019 due to COVID-19
• As previously announced:
  • Acquired 21 used CRJ700 aircraft and placed the aircraft under lease with a United Express operator during Q4
  • Took delivery of four new E175 aircraft during Q4 under a flying contract with Delta Air Lines

Commenting on the results, Chip Childs, Chief Executive Officer of SkyWest, said, "The past year has challenged our industry, our business, and our people beyond what anyone could have anticipated, and we responded quickly and aggressively to protect our people, our partners, and our business. I'm incredibly proud of the SkyWest team's great work and the flexibility they continue to demonstrate. We believe we're in a strong position to play a key role in the industry's recovery and we remain committed to positioning SkyWest for future success."

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

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