Compared to Estimates, SkyWest (SKYW) Q2 Earnings: A Look at Key Metrics
SkyWest (SKYW) reported $725.64 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 9.2%. EPS of $0.35 for the same period compares to $1.07 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $706.08 million, representing a surprise of +2.77%. The company delivered an EPS surprise of +176.09%, with the consensus EPS estimate being -$0.46.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how SkyWest performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Block hours: 282617 hrs compared to the 281675.5 hrs average estimate based on two analysts.
Operating Revenues- Lease, airport services and other: $25.25 million versus the two-analyst average estimate of $25.94 million.
Operating Revenues- Flying agreements: $700.39 million compared to the $655.08 million average estimate based on two analysts. The reported number represents a change of -9.5% year over year.
View all Key Company Metrics for SkyWest here>>>
Shares of SkyWest have returned +1.4% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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SkyWest, Inc. (SKYW) : Free Stock Analysis Report
