Why Is SKYWEST INC (SKYW) Stock Up Today?

Why SKYW stock is up today

SkyWest Inc. stock surged 9.18% to $104.98 in early trading on July 24, 2026, driven by a combination of a strong earnings call and a recent buyback boost. The stock opened with a 1.6% gap up and quickly climbed to a session high before settling near its peak. The move reflects investor optimism over the company’s revised capital expenditure plans and expanded buyback program.

What Happened

The CEO and CFO of SkyWest outlined key developments during the Q2 2026 earnings call on July 23. The company reported a profit of $101 million but missed estimates for both revenue and GAAP EPS. Despite the shortfalls, the call highlighted a $250 million increase to its existing stock repurchase program and a $700 million capital expenditure plan for 2026. Additionally, the company announced a deal for 11 new E175 aircraft with American Airlines. These developments, along with a forward-looking 2026 GAAP EPS projection in the $11 area, generated strong investor reaction.

The SEC 8-K filing on the same day disclosed the results of operations and other events, including the new aircraft deal and buyback expansion. The filing was accompanied by updated financial statements. Meanwhile, TD Cowen reiterated a Buy rating on SkyWest and raised its price target to $115.

What The Data Shows

Intraday data shows the stock opened at $97.80 and reached a high of $104.98 shortly after 9:35 AM ET. Volume remained light at 0.0M shares traded, which is 0.1 times the 3-month daily average. The stock is currently trading within its 52-week range of $77.89 to $123.94. SkyWest has a market cap of $3.8B, a P/E ratio of 9.2, and revenue growth of 12.3% trailing twelve months. The stock has a beta of 1.45, indicating higher volatility than the market.

What To Watch

With the Q2 2026 earnings call and buyback announcement already in the public domain, the next key event for investors will be the company’s Q3 2026 earnings report. Coverage breadth remains high, with five stories from three sources in the last 36 hours. Investors should monitor any further developments regarding the E175 aircraft deal and the impact of the expanded buyback program on share price.