Filing Flows › Skywest (SKYW) › Q2 2025
Skywest (SKYW) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 25, 2025
Skywest (SKYW) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), +19% from a year earlier and +9% from the quarter before. Operating margin was 16.4%, net earnings $120M (11.6% of revenue).
Skywest, Q2 2025: revenue $1.0B (+19% year over year), operating margin 16.4%, net earnings $120M, operating cash flow $257M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +9% | +19% |
| Operating profit | $170M | +22% | +42% |
| Net earnings | $120M | +20% | +59% |
| Operating cash flow | $257M | +50% | +55% |
| Free cash flow | $118M | +126% | -5% |
What changed
Revenue was $1.0B in Q2 2025, up 19% year over year and up 9% from the previous quarter. Capacity purchase agreements flight operations revenue (non-lease component) was the largest line at 66% of revenue. Capacity purchase agreements flight operations revenue (non-lease component) added $0.09B year over year (up 15%), 52% of the total change. Capacity purchase agreements variable aircraft lease revenue declined 10%.
Operating profit was $0.17B, a 16.4% margin (up 2.6 points year over year). Of the extra revenue versus a year earlier, 30% reached operating profit, above the 14% margin then. Total costs grew 16% against revenue growth of 19%. Net earnings were $0.12B, up 59% year over year. The effective tax rate was 26.3%.
Operating cash flow was $0.26B (up 55% year over year), 214% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.04B. Capital expenditures of $0.14B left free cash flow of $0.12B.
Questions
What was Skywest's revenue in the second quarter 2025?
Skywest (SKYW) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), +19% from a year earlier and +9% from the quarter before.
Was Skywest profitable in the second quarter 2025?
Operating profit was $170M (16.4% of revenue) and net earnings $120M.
Source: Skywest 10-Q on SEC EDGAR.