SkyWest SKYW is scheduled to release third-quarter 2024 results on Oct. 31, after market close.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
The Zacks Consensus Estimate for the to-be-reported quarter’s earnings and revenues is pegged at $1.92 per share and $887.48 million, respectively.
The earnings estimate for the to-be-reported quarter has remained stable in the past 60 days. The bottom-line expectation indicates year-over-year growth of 249.1%. The Zacks Consensus Estimate for quarterly revenues implies a relatively modest year-over-year increase of 15.8%.
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SKYW has an awe-inspiring earnings surprise history, as reflected in the chart below.
Image Source: Zacks Investment Research
Earnings Whispers for SKYW
Our proven model does not predict an earnings beat for SkyWest this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
SKYW has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Shape SKYW’s Q3 Results
We expect revenues from flying agreements (which account for the bulk of the top line) to have been impressive in the to-be-reported quarter. The Zacks Consensus Estimate for operating revenues from flying agreements is currently pegged at $860 million, implying an increase of 15.9% from third-quarter 2023 actuals.
Owing to an uptick in air-travel demand, passenger volumes are likely to have been upbeat, in turn boosting the top line in the quarter to be reported for this regional carrier. Passenger load factor (% of seats occupied by passengers) is likely to have improved in the to-be-reported quarter owing to higher traffic.
The improvement in the scenario concerning pilot staffing is likely to have resulted in an increase in block hours (a measure of aircraft utilization) in the third quarter of 2024 from the year-ago actuals. Operating expenses are, however, likely to have been high in the September quarter due to higher expenses on salaries, wages and benefits.
Stocks to Consider
Here are some stocks from the broader Zacks Transportation sector that investors might want to consider, as our model shows that these have the right combination of elements to beat earnings this season.
Expeditors International of Washington EXPD is scheduled to report its third-quarter 2024 results on Nov. 5, before market open. The company currently has an Earnings ESP of +2.13% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company has a disappointing earnings history, having missed the Zacks Consensus Estimate in two of the preceding four quarters and surpassed twice. The average miss is 2.7%.
Copa Holdings CPA has an Earnings ESP of +0.88% and a Zacks Rank #2 at present. This Latin America’s airline is scheduled to report third-quarter 2024 earnings results on Nov. 20.
CPA surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average beat being 16%. Rosy air travel demand and low fuel costs are likely to have aided its performance in the quarter under review.
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SkyWest, Inc. (SKYW) : Free Stock Analysis Report
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