Filing Flows › Skywest (SKYW) › Q1 2025
Skywest (SKYW) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 25, 2025
Skywest (SKYW) reported revenue of $948M for the first quarter 2025 (Q1 2025), +18% from a year earlier and +0.4% from the quarter before. Operating margin was 14.7%, net earnings $101M (10.6% of revenue).
Skywest, Q1 2025: revenue $948M (+18% year over year), operating margin 14.7%, net earnings $101M, operating cash flow $171M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $948M | +0.4% | +18% |
| Operating profit | $139M | -3% | +40% |
| Net earnings | $101M | +3% | +67% |
| Operating cash flow | $171M | -8% | +8% |
| Free cash flow | $52.1M | — | -54% |
What changed
Revenue was $948.5M in Q1 2025, up 18% year over year and roughly flat from the previous quarter. Capacity purchase agreements flight operations revenue (non-lease component) was the largest line at 67% of revenue. Capacity purchase agreements flight operations revenue (non-lease component) added $95.0M year over year (up 17%), 66% of the total change. Capacity purchase agreements variable aircraft lease revenue declined 39%.
Operating profit was $139.4M, a 14.7% margin (up 2.3 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 12% margin then. Total costs grew 15% against revenue growth of 18%. Net earnings were $100.6M, up 67% year over year. The effective tax rate was 16.7%.
Operating cash flow was $171.0M (up 8% year over year), 170% of net earnings. Non-cash charges added back $89.4M of depreciation and amortization and $4.7M of share-based compensation. Working capital and other items used $23.7M. Capital expenditures of $118.9M left free cash flow of $52.1M.
Questions
What was Skywest's revenue in the first quarter 2025?
Skywest (SKYW) reported revenue of $948M for the first quarter 2025 (Q1 2025), +18% from a year earlier and +0.4% from the quarter before.
Was Skywest profitable in the first quarter 2025?
Operating profit was $139M (14.7% of revenue) and net earnings $101M.
Source: Skywest 10-Q on SEC EDGAR.