Why Is SKYWEST INC (SKYW) Stock Down Today?

SkyWest Inc. shares fell 11.36% to $85.57 following the release of third quarter 2026 financial results. The decline was driven by a combination of missed earnings expectations and lowered forward guidance, as fuel headwinds offset revenue gains.

What Happened

SkyWest reported GAAP earnings per share of $3.08, missing the consensus estimate of $3.25 by $0.14. Revenue of $1.12 billion also missed expectations by $20 million, falling short of the $1.145 billion estimate. While net income rose 3% to $120 million, the company trimmed its 2026 EPS outlook to approximately $10.60. The firm targets 1% to 2% block hour growth for 2027.

In response to the results, several analysts adjusted their ratings. Deutsche Bank downgraded the stock to Hold from Buy. Raymond James lowered its price target to $145 from $160. Evercore ISI maintained an Outperform rating but reduced its price target to $125 from $130.

What The Data Shows

The stock opened at $87.79, representing a 9.1% gap down from the prior close of $96.54. The session high reached $89.01 at 9:55 AM ET, while the low touched $85.30 at 11:00 AM ET. Volume stood at 0.1 million shares, which is 0.3 times the three month daily average.

Fundamentals show a market capitalization of $3.7 billion and a P/E ratio of 9.6. Trailing twelve month revenue increased by 9.1%, with a net margin of 9.8%. The stock has a beta of 1.48 and a 52 week range of $77.89 to $117.72. On October 30, 2026, the stock printed two fresh 52 week highs and four fresh 52 week lows.

Recent insider activity includes a sale by Chief Commercial Officer Steel Wade J on August 3, 2026. One sale totaling $2.5 million was recorded in the last 90 days. Congressional disclosures show one sale of $15,001 to $50,000 on June 4, 2026.

What To Watch

Investors will monitor the stock's reaction to the revised 2026 EPS guidance of $10.60 and the 1% to 2% block hour growth target for 2027. Coverage from ten stories across five sources in the last 36 hours suggests continued focus on fuel cost impacts and analyst price target adjustments.