SKYW FY 2019 Earnings Report — SkyWest, Inc. Revenue & Financial Results | Market Cap Arena

SkyWest, Inc.SKYW

FY 2019 Earnings

Reported February 18, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$3.0B	—	$3.2B	—	-7.8%
Op. Income	$512M	—	$474M	—	8.0%
Gross Margin	26.2%	—	23.2%	—	3.0pp
Net Margin	11.4%	—	8.7%	—	2.7pp
EPS (Diluted)	$6.62	—	$5.30	—	24.9%
Free Cash Flow	$6M	—	-$336M	—	101.9%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$2.2B
GROSS PROFIT	$778M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$266M
Operating Expenses	$266M
Cost & Expenses	$2.5B
OPERATING INCOME	$512M
Interest Income	$14M
Interest Expense	$128M
Other Income/Expenses	-$66M
INCOME BEFORE TAX	$446M
Income Tax Expense	$106M
Net Income from Continuing Ops	$340M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$340M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$340M
D&A	$368M
EBIT	$574M
EBITDA	$942M
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$2.2B
GROSS PROFIT	$778M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$266M
Operating Expenses	$266M
Cost & Expenses	$2.5B
OPERATING INCOME	$512M
Interest Income	$14M
Interest Expense	$128M
Other Income/Expenses	-$66M
INCOME BEFORE TAX	$446M
Income Tax Expense	$106M
Net Income from Continuing Ops	$340M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$340M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$340M
D&A	$368M
EBIT	$574M
EBITDA	$942M
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$340M
Depreciation & Amortization	$368M
Stock-Based Compensation	$10M
Deferred Income Tax	$110M
Other Non-Cash Items	-$25M
Change in Working Capital	-$82M
OPERATING CASH FLOW	$721M
Capital Expenditure	-$715M
Acquisitions (Net)	$53M
Purchases of Investments	-$1.9B
Sales/Maturities of Investments	$1.9B
Other Investing Activities	$76M
NET CASH FROM INVESTING	-$657M
Net Debt Issuance	-$182M
Common Stock Repurchased	-$95M
Common Dividends Paid	-$23M
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$305M
FREE CASH FLOW	$6M
Net Change in Cash	-$241M

Balance Sheet

Item	Amount
Cash & Equivalents	$87M
Short-Term Investments	$433M
Net Receivables	$94M
Inventory	$111M
Other Current Assets	$36M
TOTAL CURRENT ASSETS	$760M
PP&E (Net)	$5.7B
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$166M
TOTAL NON-CURRENT ASSETS	$5.9B
TOTAL ASSETS	$6.7B
Account Payables	$284M
Short-Term Debt	$364M
Deferred Revenue	$0
Other Current Liabilities	$32M
TOTAL CURRENT LIABILITIES	$925M
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$624M
Other Non-Current Liabilities	$46M
TOTAL NON-CURRENT LIABILITIES	$3.6B
TOTAL LIABILITIES	$4.5B
Common Stock	$687M
Additional Paid-In Capital	$0
Retained Earnings	$2.1B
Treasury Stock	-$591M
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.2B
Minority Interest	$0
TOTAL EQUITY	$2.2B
TOTAL LIABILITIES & EQUITY	$6.7B
Total Debt	$3.3B
Net Debt	$3.3B