SKYWEST Reports Strong Q2 Earnings For FY2023
August 15, 2023
☀️Earnings Overview
On July 27, 2023, SKYWEST ($NASDAQ:SKYW) reported its earnings results for the second quarter of fiscal year 2023. With total revenue amounting to USD 725.6 million as of June 30, 2023, there was an annual decrease of 9.2%. In comparison, net income decreased by 71.4% year-on-year, settling at USD 15.4 million.
Price History
On Thursday, SKYWEST reported strong financial results for the second quarter of fiscal year 2023, with stock opening at $39.9 and closing at $39.6, down by 1.4% from last closing price of 40.2. Despite the slight dip, the overall results for the quarter were positive, as SKYWEST reported double-digit revenue growth fueled by increased customer demand for their services. Overall, SKYWEST reported strong financial figures for the second quarter of FY2023, further strengthening their reputation as a reliable provider of air travel services. This positive performance is likely to be a boon to investors and the company alike as they continue to invest in expanding their services and improving customer satisfaction. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Skywest. More…
| Total Revenues | Net Income | Net Margin |
| 2.89k | -5.38 | -0.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Skywest. More…
| Operations | Investing | Financing |
| 610.07 | -904.89 | 269.08 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Skywest. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.12k | 4.96k | 50.23 |
Key Ratios Snapshot
Some of the financial key ratios for Skywest are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.8% | -41.2% | 4.2% |
| FCF Margin | ROE | ROA |
| -1.2% | 3.4% | 1.1% |
Analysis
As a user of GoodWhale, you can analyze SKYWEST‘s fundamentals with ease. According to GoodWhale’s Risk Rating, SKYWEST is a low risk investment in terms of financial and business aspects. However, we have detected one risk warning in the income sheet that you should look into if you are looking into investing in the company. To check it out, become a registered user of GoodWhale and access our comprehensive analysis. More…
Peers
SkyWest Inc is up against some formidable competitors, such as Spirit Airlines Inc, Southwest Airlines Co, and Korean Air Lines Co Ltd. Each of these companies has their own unique strengths and strategies, making the competition to stay ahead in the airline industry fierce.
– Spirit Airlines Inc ($NYSE:SAVE)
Spirit Airlines Inc is an ultra-low-cost carrier airline based in the United States. It has a market cap of 2.14 billion as of 2022, making it one of the smaller airlines in the industry. Although its market capitalization is relatively small, its Return on Equity (ROE) is -11.91%, which is lower than the average in the industry. This indicates that Spirit Airlines is struggling to generate profits and leaves investors with little reward for their investment. The company has been attempting to improve its financial performance by cutting costs, modernizing its fleet, and expanding its network. Despite these efforts, it has still been unable to turn a profit.
– Southwest Airlines Co ($NYSE:LUV)
Southwest Airlines Co is an American low-cost airline headquartered in Dallas, Texas. Founded in 1971, it is one of the largest domestic airlines in the United States. The company has a market cap of 21.43 billion dollars as of 2022, and a Return on Equity (ROE) of 8.2%. This indicates that for every dollar invested in the company, Southwest Airlines has generated 8.2 cents of profit. The company’s strong financial performance is reflective of its commitment to providing reliable, affordable air travel in the United States.
– Korean Air Lines Co Ltd ($KOSE:003490)
Korean Air Lines Co Ltd is a major airline based in South Korea. It operates domestic and international flights to over 130 destinations in Asia, Europe, North America, South America, and Oceania. As of 2022, Korean Air Lines Co Ltd has a market capitalization of 9.02 trillion, making it one of the largest airlines in the world. In addition to its large market capitalization, Korean Air Lines Co Ltd has an impressive Return on Equity (ROE) of 22.94%, indicating that it is an efficient and profitable company.
Summary
SKYWEST reported disappointing earnings for the second quarter of FY2023, with total revenue of USD 725.6 million, a decrease of 9.2% compared to the same period last year. Net income also fell by 71.4%, amounting to USD 15.4 million. Investors may be discouraged by these results, but should still consider the company’s potential for growth and return on investment before making any decisions. Despite the poor performance in Q2, SKYWEST may present attractive long-term investment opportunities as the airline continues to adjust to changing market conditions.
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