SkyWest (NASDAQ:SKYW) Announces Earnings Results, Misses Estimates By $0.16 EPS

Posted by Hanz Christensen on Jul 25th, 2026

SkyWest (NASDAQ:SKYW – Get Free Report) posted its earnings results on Thursday. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.16), FiscalAI reports. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.63%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.91 earnings per share.

Here are the key takeaways from SkyWest’s conference call:

SkyWest reported Q2 2026 net income of $101 million, or $2.54 per diluted share, on 9% sequential revenue growth to $1.1 billion, reflecting strong demand for both contract and pro-rate flying.
The company announced a new American Airlines agreement for 11 E175s, with deliveries beginning in 2026, and said this supports its plan to reach 300 E175s by the end of 2027.
Management said pro-rate demand remains very strong, and fare increases have offset about 60% of the higher fuel costs in that business during Q2.
SkyWest continued to strengthen its balance sheet, ending Q2 with $601 million in cash, having reduced debt by about $1 billion since the end of 2022, and its board authorized an additional $250 million share repurchase program.
Management guided to approximately 5% block hour growth for full-year 2026 and said full-year GAAP EPS should be around $11, though results remain sensitive to fuel-price volatility and fleet timing.

SkyWest Price Performance

Shares of SKYW stock opened at $103.65 on Friday. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.40 and a beta of 1.45. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. SkyWest has a 12 month low of $77.89 and a 12 month high of $123.94. The stock has a 50-day moving average price of $92.03 and a 200 day moving average price of $94.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. The Goldman Sachs Group lowered SkyWest from a “buy” rating to a “neutral” rating and cut their target price for the company from $126.00 to $115.00 in a research note on Thursday, July 2nd. Citigroup raised their price target on shares of SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, TD Cowen lifted their price objective on SkyWest from $98.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.17.

Check Out Our Latest Analysis on SKYW

Institutional Investors Weigh In On SkyWest

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKYW. Dimensional Fund Advisors LP boosted its position in shares of SkyWest by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,508,655 shares of the transportation company’s stock worth $251,895,000 after purchasing an additional 22,110 shares in the last quarter. State Street Corp raised its holdings in shares of SkyWest by 0.5% in the 4th quarter. State Street Corp now owns 1,517,700 shares of the transportation company’s stock valued at $152,392,000 after purchasing an additional 8,117 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of SkyWest by 27.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company’s stock worth $118,981,000 after acquiring an additional 255,408 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of SkyWest by 2.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 859,843 shares of the transportation company’s stock valued at $86,337,000 after purchasing an additional 18,422 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in SkyWest by 2.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 560,159 shares of the transportation company’s stock valued at $56,246,000 after acquiring an additional 11,477 shares during the period. Institutional investors own 81.30% of the company’s stock.

Key SkyWest News

Here are the key news stories impacting SkyWest this week:

Positive Sentiment: SkyWest reported Q2 2026 revenue of about $1.10 billion, up 6.5% year over year, showing continued demand and healthier top-line momentum. SkyWest, Inc. Announces Second Quarter 2026 Profit
Positive Sentiment: The company projected 2026 GAAP EPS in the “$11 area,” which suggests management sees continued earnings strength ahead. SkyWest projects 2026 GAAP EPS in the $11 area while outlining $700M CapEx
Positive Sentiment: Wall Street commentary remains constructive on SkyWest, and a bullish analyst tone can support the stock by reinforcing confidence in the outlook. Is It Worth Investing in SkyWest (SKYW) Based on Wall Street’s Bullish Views?
Neutral Sentiment: Q2 earnings of $2.54 per share were roughly in line with consensus but below some higher estimates, while revenue slightly missed expectations. SkyWest (SKYW) Q2 Earnings and Revenues Miss Estimates
Negative Sentiment: Higher fuel costs in the prorate business pressured quarterly results, which may weigh on margins if the cost trend continues. SkyWest, Inc. Announces Second Quarter 2026 Profit

SkyWest declared that its board has initiated a stock repurchase plan on Thursday, July 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

SkyWest Company Profile

(Get Free Report)

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.