SkyWest, Inc. (SKYW) Financial Statements (2024 and earlier)

Company Profile

Business Address 444 S RIVER RD
ST GEORGE, UT 84790
State of Incorp. UT
Fiscal Year End December 31
Industry (SIC) 4512 - Air Transportation, Scheduled (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments862,349935,8591,047,2151,004,197974,679856,451
Cash and cash equivalents114,43374,524102,98438,85096,071246,001
Short-term investments747,916861,335944,231965,347878,608610,450
Receivables123,100120,000100,50094,20097,00089,400
Other current assets92,50692,647100,33466,42851,10037,438
Other undisclosed current assets105,178103,462123,23297,36494,10588,680
Total current assets:1,183,1331,251,9681,371,2811,262,1891,216,8841,071,969
Noncurrent Assets
Operating lease, right-of-use asset 92,80396,374151,928192,709207,845223,856
Property, plant and equipment5,491,1435,561,4585,548,4805,638,7715,559,9765,528,821
Long-term investments and receivables    227,600234,400232,100
Accounts and financing receivable, after allowance for credit loss    227,600234,400232,100
Other noncurrent assets348,695323,961342,864   
Other undisclosed noncurrent assets    132,935117,54292,212
Total noncurrent assets:5,932,6415,981,7936,043,2726,192,0156,119,7636,076,989
TOTAL ASSETS:7,115,7747,233,7617,414,5537,454,2047,336,6477,148,958
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities669,206656,567628,766612,695652,511596,637
Taxes payable20,48036,21328,61126,669
Employee-related liabilities186,285195,082186,062157,211
Accounts payable457,310452,214422,001381,400437,838412,757
Accrued liabilities211,896204,353    
Deferred revenue7,3005,6005,2001,70020,80033,000
Debt442,155443,328438,502429,425424,998410,124
Other liabilities35,91833,46633,54943,63445,29556,597
Other undisclosed current liabilities11,41513,14166,52672,44154,80945,930
Total current liabilities:1,165,9941,152,1021,172,5431,159,8951,198,4131,142,288
Noncurrent Liabilities
Long-term debt and lease obligation2,743,8042,855,5242,941,7723,099,8572,999,0802,939,268
Long-term debt, excluding current maturities2,743,8042,855,5242,941,7722,982,0342,864,4832,791,274
Liabilities, other than long-term debt1,048,737994,077952,607798,504794,123777,687
Deferred income tax liabilities682,694681,550687,060683,828679,794669,026
Other liabilities292,149236,109176,925114,676114,329108,661
Operating lease, liability73,89476,41888,622117,823134,597147,994
Total noncurrent liabilities:3,792,5413,849,6013,894,3793,898,3613,793,2033,716,955
Total liabilities:4,958,5355,001,7035,066,9225,058,2564,991,6164,859,243
Equity
Equity, attributable to parent, including:2,157,2392,232,0582,347,6312,395,9482,345,0312,289,715
Treasury stock, value(816,446)(720,448)(619,862)(619,862)(619,835)(619,835)
Accumulated other comprehensive loss(808)(2,322)(3,802)(4,569)(1,945) 
Retained earnings2,230,2172,214,7982,236,8692,283,9732,235,6012,181,650
Other undisclosed equity, attributable to parent744,276740,030734,426736,406731,210727,900
Total equity:2,157,2392,232,0582,347,6312,395,9482,345,0312,289,715
TOTAL LIABILITIES AND EQUITY:7,115,7747,233,7617,414,5537,454,2047,336,6477,148,958

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues725,643691,831681,245789,443799,085735,152
Gross profit:725,643691,831681,245789,443799,085735,152
Operating expenses(693,783)(696,535)(716,309)(713,867)(710,483)(683,104)
Operating income (loss):31,860(4,704)(35,064)75,57688,60252,048
Nonoperating expense(14,223)(21,413)(26,614)(18,823)(15,855)(27,287)
Investment income, nonoperating10,49410,0338,2736,3482,559425
Other nonoperating income (expense)9,0012,174(112)8,11212,019880
Interest and debt expense(33,718)(33,620)(34,775)(33,283)(30,433)(28,592)
Income (loss) from continuing operations before equity method investments, income taxes:(16,081)(59,737)(96,453)23,47042,314(3,831)
Other undisclosed income from continuing operations before income taxes33,71833,62034,77533,28330,43328,592
Income (loss) from continuing operations before income taxes:17,637(26,117)(61,678)56,75372,74724,761
Income tax expense (benefit)(2,218)4,04614,574(8,381)(18,796)(7,027)
Income (loss) from continuing operations:15,419(22,071)(47,104)48,37253,95117,734
Income before gain (loss) on sale of properties:48,37253,95117,734
Net income (loss) available to common stockholders, diluted:15,419(22,071)(47,104)48,37253,95117,734

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):15,419(22,071)(47,104)48,37253,95117,734
Comprehensive income (loss):15,419(22,071)(47,104)48,37253,95117,734
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,5141,480767(2,624)(1,945) 
Comprehensive income (loss), net of tax, attributable to parent:16,933(20,591)(46,337)45,74852,00617,734

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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