Skywest inc (SKYW)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
OPERATING REVENUES:
Total operating revenues

729,936

743,591

760,295

744,383

723,694

803,489

829,275

805,515

783,400

771,241

812,673

791,512

747,166

700,513

799,776

801,338

762,075

752,744

794,004

788,417

760,398

813,854

834,633

816,574

772,386

804,368

850,740

839,130

803,487

810,726

865,259

937,214

921,173

899,850

955,425

933,697

865,951

686,858

649,759

Passenger

-

-

-

-

-

-

-

-

-

-

-

-

-

-

781,475

784,813

744,390

736,938

777,480

773,107

742,498

795,946

815,867

800,548

755,639

790,642

836,890

826,122

785,871

795,979

848,578

920,633

902,356

884,248

936,363

919,690

844,476

676,932

642,201

Ground handling and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,301

16,525

17,685

15,806

16,524

15,310

17,900

17,908

18,766

16,026

16,747

13,726

13,850

13,008

17,616

14,747

16,681

16,581

18,817

15,602

19,062

14,007

21,475

9,926

7,558

OPERATING EXPENSES:
Salaries, wages and benefits

249,160

248,978

251,414

243,766

257,588

299,744

301,378

293,677

306,719

295,591

304,014

294,795

297,667

289,716

305,958

304,228

305,557

297,261

304,633

298,573

302,845

313,903

315,766

310,844

317,642

306,682

306,887

300,342

297,396

293,093

297,106

290,676

290,814

290,376

288,401

290,126

286,148

185,362

173,716

Aircraft maintenance, materials and repairs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

143,573

142,289

138,859

142,891

147,396

156,319

158,257

172,869

159,920

171,722

178,262

170,875

176,822

171,528

167,156

149,258

163,825

167,150

179,636

183,591

189,762

176,399

163,174

120,863

111,366

Depreciation and amortization

111,708

95,169

92,795

90,148

89,986

88,202

86,088

82,714

77,585

77,353

74,095

71,206

70,114

75,538

71,743

69,887

67,801

67,554

66,603

64,659

65,691

67,252

65,822

64,252

62,316

61,695

61,135

61,174

61,001

60,758

62,703

64,182

64,315

63,899

63,393

63,697

63,193

58,771

58,383

Aircraft rentals

-

-

-

-

-

-

-

-

-

-

-

-

-

-

65,766

72,567

67,124

66,839

68,003

68,442

70,412

72,651

72,899

79,449

80,335

80,029

80,928

81,814

82,589

82,198

82,592

83,944

84,903

85,522

86,510

88,072

86,422

77,583

75,642

Aircraft fuel

-

-

-

-

-

-

-

-

-

-

-

-

-

-

33,189

32,306

25,332

27,870

31,762

31,192

27,300

38,827

49,177

58,018

47,225

47,374

49,656

46,802

49,681

53,916

71,477

153,544

147,450

144,471

160,252

161,408

126,740

87,289

85,513

Ground handling services

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,498

16,743

20,984

19,712

18,892

20,117

23,973

23,471

31,114

32,314

37,018

30,884

30,541

33,117

34,577

31,804

28,414

29,615

35,315

31,408

30,326

32,875

36,853

26,723

26,945

Station rentals and landing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,129

29,473

36,998

34,088

36,332

45,336

44,254

43,933

43,988

45,902

42,322

42,626

31,769

30,551

Special items

-

0

0

0

21,869

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Special charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,713

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition related costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,168

2,207

1,364

1,031

-

-

Other operating expenses

69,422

59,095

59,577

61,948

63,109

66,315

68,859

69,263

68,389

60,545

65,432

62,126

62,675

24,554

77,215

79,181

74,609

78,405

78,419

79,183

77,845

23,495

80,855

82,018

77,362

61,879

59,124

56,800

61,438

59,617

58,832

57,043

54,350

60,416

61,845

58,394

59,537

40,216

38,355

Total operating expenses

663,615

618,286

613,854

600,290

627,275

681,987

691,350

678,837

695,225

678,302

700,304

684,916

670,871

1,104,977

713,942

717,201

700,266

700,532

715,708

718,485

726,323

833,556

775,553

803,330

800,160

773,547

794,566

788,575

787,926

766,976

810,285

890,408

900,716

904,839

928,598

914,657

865,724

628,576

600,471

OPERATING INCOME

66,321

125,305

146,441

144,093

96,419

121,502

137,925

126,678

88,175

92,939

112,369

106,596

76,295

-404,464

85,834

84,137

61,809

52,212

78,296

69,932

34,075

-19,702

59,080

13,244

-27,774

30,821

56,174

50,555

15,561

43,750

54,974

46,806

20,457

-4,989

26,827

19,040

227

58,282

49,288

OTHER INCOME (EXPENSE):
Interest income

2,564

3,051

3,542

3,731

3,807

3,130

2,283

1,705

1,705

1,111

1,408

1,330

660

637

591

485

430

349

311

697

640

488

2,549

511

548

525

567

870

1,727

1,878

2,053

2,043

1,954

1,941

2,215

2,114

1,966

2,810

4,142

Interest expense

30,204

30,872

31,606

32,770

32,507

33,924

31,440

28,811

26,234

26,212

27,101

27,063

24,549

22,300

19,865

18,287

17,725

19,390

19,914

18,081

18,465

17,298

16,883

16,138

15,676

16,168

16,999

17,526

17,965

18,739

19,474

19,387

19,780

20,025

20,086

20,052

20,220

21,640

21,659

Other income (expense), net

398

-

-

-

46,725

-

-

-

3,558

-

-

-

-

-

-

-

-

-

1,070

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase accounting adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,711

-

-

-

-

Other, net

-

-

361

281

-

-

1,157

-1,245

-

-

-

-

-23,889

54,277

-19,274

-17,802

-17,295

-

-18,533

-17,384

-

1

23,598

-2,618

-273

-87

4,625

-187

6,039

-1,333

-4,638

-815

-3,853

-4,701

-5,351

-2,859

-506

-203

-1,131

Total other income (expense), net

-27,242

-27,517

-27,703

-28,758

18,025

-30,644

-28,000

-28,351

-20,971

-

-25,693

-25,733

-

-

-

-

-

-

-

-

-17,825

-16,809

9,264

-18,245

-15,401

-15,730

-11,807

-16,843

-10,199

-18,194

-22,059

-18,159

-21,679

-22,785

-28,933

-20,797

-18,760

-19,033

-18,648

INCOME BEFORE INCOME TAXES

39,079

97,788

118,738

115,335

114,444

90,858

109,925

98,327

67,204

68,238

86,676

80,863

52,406

-426,221

66,560

66,335

44,514

65,761

59,763

52,548

16,250

-36,511

68,344

-5,001

-43,175

15,091

44,367

33,712

5,362

25,556

32,915

28,647

-1,222

-27,774

-2,106

-1,757

-18,533

39,249

30,640

PROVISION FOR INCOME TAXES

9,091

25,261

27,399

27,283

26,263

23,753

26,879

22,468

12,842

-221,690

32,960

30,386

17,620

-155,977

25,238

26,091

17,422

25,307

23,495

21,073

6,630

-8,643

27,006

9,736

-20,288

6,482

17,973

12,992

2,129

11,610

11,982

11,687

-540

-9,807

-2,222

-3,336

-7,470

13,775

11,985

NET INCOME

29,988

72,527

91,339

88,052

88,181

67,105

83,046

75,859

54,362

289,928

53,716

50,477

34,786

-270,244

41,322

40,244

27,092

40,454

36,268

31,475

9,620

-27,868

41,338

-14,737

-22,887

8,609

26,394

20,720

3,233

13,946

20,933

16,960

-682

-17,967

116

1,579

-11,063

25,474

18,655

BASIC EARNINGS PER SHARE (in dollars per share)

0.60

1.45

1.80

1.72

1.71

1.29

1.60

1.46

1.05

5.59

1.04

0.98

0.67

-5.25

0.80

0.78

0.53

0.79

0.72

0.61

0.19

-0.55

0.81

-0.29

-0.44

0.17

0.51

0.40

0.06

0.27

0.41

0.33

-0.01

-0.34

0.00

0.03

-0.21

0.46

0.33

DILUTED EARNINGS PER SHARE (in dollars per share)

0.59

1.43

1.79

1.71

1.69

1.27

1.57

1.43

1.03

5.47

1.01

0.95

0.65

-5.22

0.79

0.77

0.52

0.77

0.71

0.61

0.18

-0.53

0.79

-0.29

-0.44

0.17

0.50

0.39

0.06

0.27

0.40

0.33

-0.01

-0.34

0.00

0.03

-0.21

0.45

0.33

Weighted average common shares:
Basic (in shares)

50,277

50,397

50,746

51,145

51,440

51,650

52,039

52,046

51,921

51,812

51,833

51,751

51,820

51,757

51,627

51,418

51,218

50,878

50,616

51,357

51,457

50,976

51,322

51,183

51,467

51,227

51,881

51,881

51,763

51,294

51,241

50,944

50,881

50,692

51,570

52,698

53,844

55,901

55,936

Diluted (in shares)

50,559

50,796

51,129

51,477

52,098

52,557

52,981

52,913

53,033

53,141

53,080

52,977

53,202

49,341

52,471

52,194

52,014

51,655

51,282

51,971

52,392

50,262

52,036

51,183

51,467

52,034

52,610

52,547

52,497

52,161

52,153

51,789

50,881

49,274

52,315

53,371

53,844

56,804

56,718

Dividends declared per share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.04

0.04

0.04

-

0.04

0.04

0.04

-

0.04

0.04

0.04

-

0.04

0.04

0.04

0.04

0.04

COMPREHENSIVE INCOME:
Net income

29,988

72,527

91,339

88,052

88,181

67,105

83,046

75,859

54,362

289,928

53,716

50,477

34,786

-270,244

41,322

40,244

27,092

40,454

36,268

31,475

9,620

-27,868

41,338

-14,737

-22,887

8,609

26,394

20,720

3,233

13,946

20,933

16,960

-682

-17,967

116

1,579

-11,063

25,474

-

Proportionate share of equity method investee foreign currency translation adjustment, net of taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,130

-

-

-

67

-

-

13

-375

141

-30

-1,504

919

130

160

-

-

Net unrealized appreciation on marketable securities, net of taxes

-

0

0

0

32

-14

-2

84

-50

-46

11

17

39

-28

-11

213

15

-210

161

-223

301

-562

-222

42

23

124

363

-563

63

-219

88

35

412

181

-289

333

309

-

-

TOTAL COMPREHENSIVE INCOME

29,988

72,527

91,339

88,052

88,213

67,091

83,044

75,943

54,312

289,882

53,727

50,494

34,825

-270,272

41,311

40,457

27,107

40,244

36,429

31,252

9,921

-28,429

39,986

-14,695

-22,864

8,732

26,824

20,157

3,296

13,740

20,646

17,136

-300

-19,290

746

2,042

-10,594

-

-

Flying agreements
Total operating revenues

709,494

725,091

738,838

725,335

700,001

791,862

816,057

793,637

767,964

761,079

800,965

781,724

734,529

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Airport customer service and other
Total operating revenues

20,442

18,500

21,457

19,048

23,693

11,627

13,218

11,878

15,436

10,162

11,708

9,788

12,637

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease, airport services and other
Total operating revenues

20,442

-

-

-

23,693

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Aircraft maintenance, materials and repairs
Total operating revenues

160,216

137,741

133,521

124,789

118,262

132,594

142,285

139,774

141,606

145,995

148,787

152,356

132,325

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Aircraft rentals
Total operating revenues

-

-

17,676

18,006

-

-

36,827

37,508

189,068

-

213,967

208,669

198,463

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

17,056

-

-

-

20,158

-

-

-

44,680

47,709

54,976

55,413

57,709

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Airport related expenses
Other operating expenses

-

-

-

-

-

-

-

-

-

-

30,209

28,949

31,948

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

30,640

29,600

27,808

30,782

30,647

28,753

25,655

25,890

29,307

43,564

22,791

20,071

31,948

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Aircraft fuel
Other operating expenses

-

-

-

-

-

-

-

-

-

-

22,791

20,071

18,433

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

25,413

31,545

31,063

30,851

25,656

30,449

30,258

30,011

26,939

7,545

30,209

28,949

18,433

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-