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How Skywest (SKYW) makes money
Skywest (SKYW) made $1.1B of revenue in the third quarter 2026 (Q3 2026), +6% from a year earlier. Flying agreements brought in $1.1B (97%); Lease, airport services and other brought in $33.2M (3%). Of every dollar of revenue, 16¢ was left as operating profit, 11¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Flying agreements | $1.1B | 97.0% | +2% | +7% |
| ↳ Capacity purchase agreements flight operations revenue (non-lease component) | $676M | 60.5% | -0.2% | +0.5% |
| ↳ Prorate agreements and charter revenue | $218M | 19.5% | +8% | +30% |
| ↳ Capacity purchase agreements fixed aircraft lease revenue | $112M | 10.0% | +4% | +23% |
| ↳ Capacity purchase agreements variable aircraft lease revenue | $78.3M | 7.0% | -0.8% | -3% |
| Lease, airport services and other | $33.2M | 3.0% | -13% | -14% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.1B | 100.0% |
| Operating profit | $176M | 15.8% |
| Income tax | $40.0M | 3.6% |
| Net earnings | $120M | 10.7% |
| Operating cash flow | $131M | 11.7% |
| Free cash flow | $125M | 11.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.1B | +6% |
| Q2 2026 | $1.1B | +6% |
| Q1 2026 | $1.0B | +7% |
| Q4 2025 | $1.0B | +8% |
| Q3 2025 | $1.1B | +15% |
| Q2 2025 | $1.0B | +19% |
| Q1 2025 | $948M | +18% |
From Skywest's 10-Q filed Oct 30, 2026 (on EDGAR).
Questions
How does Skywest make money?
Skywest (SKYW) made $1.1B of revenue in the third quarter 2026 (Q3 2026), +6% from a year earlier. Flying agreements brought in $1.1B (97%); Lease, airport services and other brought in $33.2M (3%). Of every dollar of revenue, 16¢ was left as operating profit, 11¢ was left as net earnings.
What is Skywest's biggest business?
Flying agreements: $1.1B in the third quarter 2026, 97% of revenue, +7% from a year earlier.
What is Skywest's profit margin?
Net earnings were $120M, 10.7% of revenue, in the third quarter 2026; the operating margin was 15.8%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.