SkyWest (NASDAQ:SKYW) Shares Gap Up After Better-Than-Expected Earnings

SkyWest, Inc. (NASDAQ:SKYW)’s stock price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $96.24, but opened at $100.04. SkyWest shares last traded at $102.4180, with a volume of 51,110 shares.

The transportation company reported $2.54 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.16). SkyWest had a return on equity of 14.63% and a net margin of 9.78%.The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business earned $2.91 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.

SkyWest declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 23rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the transportation company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

More 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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group downgraded shares of SkyWest from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $126.00 to $115.00 in a report on Thursday, July 2nd. Citigroup increased their price objective on shares of SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. TD Cowen raised their price objective on shares of SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings raised shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Institutional Investors Weigh In On SkyWest

Several institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of SkyWest by 480.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after acquiring an additional 216 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of SkyWest by 273.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 197 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of SkyWest in the first quarter worth $26,000. Johnson Financial Group Inc. bought a new stake in shares of SkyWest in the third quarter worth $62,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.50 and a beta of 1.45. The company’s fifty day moving average is $92.03 and its 200 day moving average is $94.45. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.66.

About SkyWest

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.