One Airline Actually Posted a Quarterly Profit: Why Shares of SkyWest Are Up Today
Shares of SkyWest Airlines (NASDAQ: SKYW) soared 18% higher on Friday after the airline posted a first-quarter profit. Airlines have been devastated by the COVID-19 pandemic, with most posting billions in losses in the quarter, but SkyWest's model allowed it to post positive numbers.
After markets closed Thursday, SkyWest reported first-quarter earnings of $0.59 per share on revenue of $730 million. The earnings number is below the $0.91 per-share consensus, but unlike most airlines, at least it was positive.
Image source: SkyWest Airlines.
Source Fool.com
