SkyWest (NASDAQ:SKYW) Shares Gap Up Following Better-Than-Expected Earnings

SkyWest, Inc. (NASDAQ:SKYW)’s share price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $96.24, but opened at $100.04. SkyWest shares last traded at $102.4180, with a volume of 51,110 shares trading hands.

The transportation company reported $2.54 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.16). SkyWest had a net margin of 9.78% and a return on equity of 14.63%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted $2.91 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year.

SkyWest declared that its board has approved a share buyback plan on Thursday, July 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Trending Headlines about SkyWest

Here are the key news stories impacting SkyWest this week:

• Positive Sentiment: SkyWest reported Q2 2026 revenue of about $1.10 billion, up 6.5% year over year, showing continued demand and healthier top-line momentum. SkyWest, Inc. Announces Second Quarter 2026 Profit
• Positive Sentiment: The company projected 2026 GAAP EPS in the “$11 area,” which suggests management sees continued earnings strength ahead. SkyWest projects 2026 GAAP EPS in the $11 area while outlining $700M CapEx
• Positive Sentiment: Wall Street commentary remains constructive on SkyWest, and a bullish analyst tone can support the stock by reinforcing confidence in the outlook. Is It Worth Investing in SkyWest (SKYW) Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Q2 earnings of $2.54 per share were roughly in line with consensus but below some higher estimates, while revenue slightly missed expectations. SkyWest (SKYW) Q2 Earnings and Revenues Miss Estimates
• Negative Sentiment: Higher fuel costs in the prorate business pressured quarterly results, which may weigh on margins if the cost trend continues. SkyWest, Inc. Announces Second Quarter 2026 Profit

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SKYW shares. TD Cowen upped their price objective on SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. The Goldman Sachs Group downgraded SkyWest from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $126.00 to $115.00 in a research report on Thursday, July 2nd. Citigroup upped their target price on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Weiss Ratings upgraded shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.17.

Institutional Investors Weigh In On SkyWest

Several institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its stake in SkyWest by 480.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after purchasing an additional 216 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of SkyWest in the first quarter worth $26,000. Transamerica Financial Advisors LLC increased its stake in shares of SkyWest by 273.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after buying an additional 197 shares during the period. Johnson Financial Group Inc. bought a new stake in SkyWest during the 3rd quarter valued at $62,000. Finally, EverSource Wealth Advisors LLC raised its holdings in SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after buying an additional 339 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Stock Up 7.7%

The company has a market capitalization of $4.11 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.40 and a beta of 1.45. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.66. The stock’s fifty day moving average is $92.03 and its 200 day moving average is $94.45.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.