SkyWest Q3 Profit Rises

(RTTNews) - SkyWest, Inc. (SKYW) on Thursday posted higher profit and revenues in the third quarter. Earnings came in above the Street estimates.

The airlines posted third-quarter net income of $48 million, or $0.96 per share, higher than net income of $10 million, or $0.19 per share in the same period last year.

Total operating revenues rose 6 percent to $789.4 million from $744.8 million a year ago. The increase in revenues can be attributed to adding 33 E175 aircraft to its operations since the third quarter of last year and eliminating the COVID-19 partner revenue concessions from a year ago.

On average, 3 analysts polled by Thomson Reuters expected the company to post earnings of $0.75 per share on revenues of $807 million for the third quarter.