Filing Flows › Skywest (SKYW) › Q4 2025
Skywest (SKYW) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Skywest (SKYW) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and -2% from the quarter before. Operating margin was 13.1%, net earnings $91.2M (8.9% of revenue).
Skywest, Q4 2025: revenue $1.0B (+8% year over year), operating margin 13.1%, net earnings $91.2M, operating cash flow $232M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | -2% | +8% |
| Operating profit | $134M | -23% | -7% |
| Net earnings | $91.2M | -22% | -6% |
| Operating cash flow | $232M | -18% | +25% |
What changed
Revenue was $1.0B in Q4 2025, up 8% year over year and down 2% from the previous quarter. Flying agreements was the largest line at 95% of revenue.
Operating profit was $0.13B, a 13.1% margin (down 2.2 points year over year). Operating profit fell $0.01B even though revenue rose $0.08B versus a year earlier, so costs grew faster than sales. Total costs grew 11% against revenue growth of 8%. Net earnings were $0.09B, down 6% year over year. The effective tax rate was 26.8%.
Operating cash flow was $0.23B (up 25% year over year), 254% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items added $0.04B. Capital expenditures of $0.24B exceeded it, leaving free cash flow of −$3.7M.
Questions
What was Skywest's revenue in the fourth quarter 2025?
Skywest (SKYW) reported revenue of $1.0B for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and -2% from the quarter before.
Was Skywest profitable in the fourth quarter 2025?
Operating profit was $134M (13.1% of revenue) and net earnings $91.2M.
Source: Skywest 10-K on SEC EDGAR.