Filing Flows › Skywest (SKYW) › Q2 2026 › vs Q2 2025
Skywest (SKYW) Q2 2026 vs Q2 2025 (year over year)
Skywest's revenue rose $67.5M (+7%) from $1.0B in Q2 2025 to $1.1B in Q2 2026. The biggest changes: Flying agreements +$77.0M (+8%); Lease, airport services and other −$9.5M (-20%). Operating margin 14.1% against 16.4% (-2.3 pts).
Skywest, Q2 2026: revenue $1.1B (+6% year over year), operating margin 14.1%, net earnings $101M, operating cash flow $292M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 14.1% | 16.4% | -2.3 pts |
| Net margin | 9.1% | 11.6% | -2.5 pts |
| Free cash flow margin | 25.7% | 11.4% | +14.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Capacity purchase agreements flight operations revenue (non-lease component) | $677M | $683M | −$5.7M | -0.8% |
| Prorate agreements and charter revenue | $201M | $145M | $55.4M | +38% |
| Capacity purchase agreements fixed aircraft lease revenue | $108M | $104M | $3.4M | +3% |
| Capacity purchase agreements variable aircraft lease revenue | $78.9M | $54.9M | $24.0M | +44% |
| Flying agreements | $1.1B | $988M | $77.0M | +8% |
| Lease, airport services and other | $38.2M | $47.7M | −$9.5M | -20% |
| Revenue | $1.1B | $1.0B | $67.5M | +7% |
| Operating profit | $156M | $170M | −$14.3M | -8% |
| Costs & expenses | $947M | $865M | $81.8M | +9% |
| Pre-tax earnings | $139M | $163M | −$24.3M | -15% |
| Other expense, net | $17.0M | $7.0M | $10.0M | +142% |
| Net earnings | $101M | $120M | −$19.6M | -16% |
| Income tax | $38.2M | $42.8M | −$4.7M | -11% |
| Depreciation & amortization | $92.5M | $90.2M | $2.3M | +3% |
| Share-based compensation | $3.9M | $5.2M | −$1.3M | -25% |
| Working capital & other | $94.8M | $41.4M | $53.3M | +129% |
| Operating cash flow | $292M | $257M | $34.8M | +14% |
| Free cash flow (OCF − capex) | $284M | $118M | $166M | +141% |
| Capital expenditures | $8.0M | $139M | −$131M | -94% |
Questions
How much did Skywest's revenue grow year over year in Q2 2026?
Skywest's revenue rose $67.5M (+7%) from $1.0B in Q2 2025 to $1.1B in Q2 2026.
What drove Skywest's revenue change in Q2 2026?
Flying agreements +$77.0M (+8%); Lease, airport services and other −$9.5M (-20%).