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Skywest (SKYW) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 30, 2026
Skywest (SKYW) reported revenue of $1.1B for the third quarter 2026 (Q3 2026), +6% from a year earlier and +1% from the quarter before. Operating margin was 15.8%, net earnings $120M (10.7% of revenue).
Skywest, Q3 2026: revenue $1.1B (+6% year over year), operating margin 15.8%, net earnings $120M, operating cash flow $131M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +1% | +6% |
| Operating profit | $176M | +13% | +1% |
| Net earnings | $120M | +19% | +3% |
| Operating cash flow | $131M | -55% | -53% |
| Free cash flow | $125M | -56% | -45% |
What changed
Revenue was $1.1B in Q3 2026, up 6% year over year and up 1% from the previous quarter. Capacity purchase agreements flight operations revenue (non-lease component) was the largest line at 60% of revenue. Prorate agreements and charter revenue added $0.05B year over year (up 30%), 75% of the total change. Lease, airport services and other declined 14%.
Operating profit was $0.18B, a 15.8% margin (down 0.8 points year over year). Of the extra revenue versus Q3 2025, 3% reached operating profit, below the 17% margin then. Total costs grew 7% against revenue growth of 6%. Net earnings were $0.12B, up 3% year over year. The effective tax rate was 25.1%.
Operating cash flow was $0.13B (down 53% year over year), 110% of net earnings. Non-cash charges added back $0.08B of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.01B left free cash flow of $0.12B.
Questions
What was Skywest's revenue in the third quarter 2026?
Skywest (SKYW) reported revenue of $1.1B for the third quarter 2026 (Q3 2026), +6% from a year earlier and +1% from the quarter before.
Was Skywest profitable in the third quarter 2026?
Operating profit was $176M (15.8% of revenue) and net earnings $120M.
Source: Skywest 10-Q on SEC EDGAR.