SKYW

EX-99.1

2 skyw-20260723xex99d1.htm

EX-99.1

Exhibit 99.1

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NEWS RELEASE

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CONTACT:

Investor Relations

Corporate Communications

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435.634.3200

435.634.3553

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Investor.relations@skywest.com

corporate.communications@skywest.com

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SkyWest, Inc. Announces Second Quarter 2026 Profit

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●Q2 2026 pre-tax income of $139 million, a 29% increase from Q1 2026 with a 9% sequential increase in block hours

●SkyWest secured an agreement to purchase and operate 11 new E175 aircraft for American Airlines

●SkyWest’s Board of Directors approved a $250 million increase to its existing stock repurchase program

●SkyWest took delivery of one new E175 aircraft in Q2 2026 under a previously announced agreement with United Airlines

ST. GEORGE, UTAH, July 23, 2026 -- SkyWest, Inc. (NASDAQ: SKYW) (“SkyWest”) today reported financial and operating results for Q2 2026, including net income of $101 million, or $2.54 per diluted share, compared to net income of $120 million, or $2.91 per diluted share, for Q2 2025. The Q2 2026 financial results were negatively impacted by higher fuel cost per gallon in SkyWest’s prorate business compared to Q2 2025.

Commenting on the results, Chip Childs, President and Chief Executive Officer of SkyWest, said, “Our block hour production outlook remains solid, as we prepare to invest in owning and operating 34 more E175s through the end of 2028. We believe that the fleet initiatives and investments we continue to make create long-term value and cash flow that benefits our people, our customers, and our shareholders. I want to thank our team for their steady, good work through an unusually volatile quarter.”

Financial Results

Revenue was $1.1 billion in Q2 2026, up $68 million, or 7%, from $1.0 billion in Q2 2025. SkyWest’s Q2 2026 block hour production increased 5% compared to Q2 2025 and increased 9% compared to Q1 2026, which reflects higher fleet utilization and strong demand.

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Operating expenses were $947 million in Q2 2026, up $82 million, or 9%, from $865 million in Q2 2025, driven by an expected increase in incremental direct operating costs associated with higher production and an increase in the cost per gallon for prorate fuel in Q2 2026 compared to Q2 2025.

Capital and Liquidity

SkyWest had $601 million in cash and marketable securities at June 30, 2026, compared to $707 million at December 31, 2025.

Total debt at June 30, 2026 was $2.3 billion, down from $2.4 billion at March 31, 2026 and December 31, 2025, reflecting $122 million in principal debt payments and $24 million in new debt issued during Q2 2026. Capital expenditures during Q2 2026 were $139 million for the purchase of one new E175 aircraft, spare engines, and other fixed assets.

SkyWest repurchased 833,000 shares of its common stock for approximately $75 million during Q2 2026 at an average price per share of $89.55. During the first half of 2026, SkyWest repurchased 1.6 million shares of its common stock for $150 million. As of June 30, 2026, SkyWest had approximately $63 million of remaining availability under its existing stock repurchase program. As announced today, SkyWest’s Board of Directors approved a $250 million increase to the existing stock repurchase program.

Commercial Agreements

SkyWest secured an agreement to purchase and operate 11 new E175 aircraft under a multi-year flying contract for American Airlines (“American”). The 11 new E175 aircraft are expected to replace 11 CRJ700s SkyWest is currently flying under contract with American. SkyWest is scheduled to purchase the 11 E175s from Embraer with anticipated delivery dates in 2026 and 2027.

The table below summarizes anticipated E175 aircraft deliveries during the periods indicated based on currently available information, which is subject to change. During the first half of 2026, SkyWest had two E175 aircraft deliveries, one for Alaska Airlines (“Alaska”) and one for United Airlines (“United”), which are reflected in the table below.

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2026

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2027

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2028

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Thereafter

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Total

United

8

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ꟷ

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8

Delta Air Lines

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10

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6

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ꟷ

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16

American

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4

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7

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ꟷ

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11

Alaska

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1

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1

Unassigned

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4

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29

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33

Total

13

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17

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10

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29

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69

By the end of 2027, SkyWest anticipates having 300 E175 aircraft in its fleet. As previously announced, SkyWest entered into a purchase agreement with Embraer, which secures delivery positions for 33 additional E175s from 2028 through 2032 for potential future flying

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opportunities. SkyWest’s purchase agreement with Embraer also includes purchase rights for 50 additional E175s from Embraer, as previously announced.

About SkyWest

SkyWest, Inc. is the holding company for SkyWest Airlines, Inc., SkyWest Charter, LLC (“SWC”) and SkyWest Leasing, Inc., an aircraft equipment leasing company. SkyWest Airlines has a fleet of approximately 500 aircraft co

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SKYWEST, INC._January 29, 2026 0000793733false00007937332026-01-292026-01-29 ​ ​

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ​ Date of Report (date of earliest event reported): January 29, 2026 ​

SKYWEST, INC.

(Exact Name of Registrant as Specified in its Charter) ​ ​

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Utah ​ 0-14719 ​ 87-0292166

(State or other jurisdiction of ​ (Commission ​ (IRS Employer

incorporation or organization) ​ File Number) ​ Identification No.)

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444 South River Road ​ ​

St. George, Utah ​ 84790

(Address of Principal Executive Offices) ​ (Zip Code)

​ Registrant’s Telephone Number, Including Area Code: (435) 634-3000 ​ Not applicable (Former name or former address, if changed since last report.) ​ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ​ ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ​ ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ​ ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ​ ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ​ ​ Securities registered pursuant to Section 12(b) of the Act: ​ ​

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Title of Each Class ​ Trading Symbol(s) ​ Name of Each Exchange on which Registered

Common Stock, No Par Value ​

SKYW

​ The Nasdaq Global Select Market

​ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ​ ​

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​ Emerging growth company  ☐

​ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐ ​ ​ ​ ​ ​

Item 2.02. Results of Operations and Financial Condition ​ On January 29, 2026, SkyWest, Inc. (the “Company”) issued a press release announcing its financial results for the three months and year ended December 31, 2025. The full text of the Company’s press release is furnished herewith as Exhibit 99.1. ​ The information in this Current Report on Form 8-K (including Exhibit 99.1) is furnished pursuant to General Instruction B.2 to Form 8-K and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing. ​ ​ Item 9.01. Financial Statements and Exhibits ​ (d) Exhibits. ​ ​ ​ ​ ​

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Exhibit Number ​ ​ Title of Document ​

99.1 ​ Press release dated January 29, 2026 ​

104 ​ Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) ​

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SIGNATURE

​ Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ​ ​

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SKYWEST, INC.

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Dated: January 29, 2026 ​ By /s/ Eric J. Woodward

​ ​ Eric J. Woodward, Chief Accounting Officer

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