SkyWest Q2 net income falls to $15 million, or $0.35 a share, from $54 million
SkyWest reported second quarter 2023 net income of $15 million, or $0.35 per diluted share, down from $54 million, or $1.07 per diluted share, a year earlier. Revenue fell 9% to $726 million, and the company deferred $60 million of revenue due to modified terms in its amended flying contracts.
- Revenue was $726 million, down $73 million, or 9%, from $799 million in Q2 2022
- Net income was $15 million, or $0.35 per diluted share, versus $54 million, or $1.07, in Q2 2022
- Company repurchased 3.3 million shares for $94 million in Q2 2023; $186 million remained under the May 2023 program
- Total debt was $3.2 billion at June 30, 2023, down from $3.4 billion at December 31, 2022