SkyWest Q1 Profit Rises

(RTTNews) - SkyWest, Inc. (SKYW) Thursday reported first-quarter net income of $35.90 million or $0.71 per share, compared to net income of $30.0 million or $0.59 per share last year.

Revenues for the quarter were $534.6 million, down 27% from $729.9 million last year. The decrease in revenues were due to a significant reduction in the number of flights SkyWest was scheduled to operate under its flying agreements compared to the same period last year because of the COVID-19 pandemic.

Analysts polled by Thomson Reuters expected an earnings of $0.89 per share on revenues of $575.76 million for the quarter. Analysts' estimates typically exclude special items.