SkyWest, Inc. (SKYW - Free Report) reported a 5.6% (9,100) year-over-year decline in block hours (a measure of aircraft utilization) to 153,309 in July 2018.
The regional carrier, which remains focused on streamlining its operations, stated that the fall in the metric was in sync with its fleet transition plans. The company aims to reduce the 50-seat jets in its fleet and add new E175 aircraft.
Notably, SkyWest’s dual class aircraft (E175, CRJ 900 and CRJ700) accounted for approximately 53.9% of the carrier’s total block-hour production for the month compared with approximately 52.3% a year ago. In terms of airlines, SkyWest Airlines and Express Jet Airlines represented a respective 79.5% and 20.5% of the carrier’s total block-hour production for July.
Additionally, this St. George, UT-based company reported a 4.9% decrease in block hours for the first seven months of the year. Load factor (percentage of seats filled with passengers) improved 230 basis points (bps) to 84.3% in July. While the number of departures in the month fell 8.5% on a year-over-year basis, passenger count declined 4.7%.
Zacks Rank & Other Key Picks
SkyWest sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the broader Transportation sector include Trinity Industries, Inc. (TRN - Free Report) , CSX Corporation (CSX - Free Report) and Norfolk Southern Corporation (NSC - Free Report) , each flaunting a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Trinity, CSX and Norfolk Southern have rallied more than 31%, 42% and 43%, respectively, in a year.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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SkyWest, Inc. (SKYW - Free Report) reported a 5.6% (9,100) year-over-year decline in block hours (a measure of aircraft utilization) to 153,309 in July 2018.
The regional carrier, which remains focused on streamlining its operations, stated that the fall in the metric was in sync with its fleet transition plans. The company aims to reduce the 50-seat jets in its fleet and add new E175 aircraft.
Notably, SkyWest’s dual class aircraft (E175, CRJ 900 and CRJ700) accounted for approximately 53.9% of the carrier’s total block-hour production for the month compared with approximately 52.3% a year ago. In terms of airlines, SkyWest Airlines and Express Jet Airlines represented a respective 79.5% and 20.5% of the carrier’s total block-hour production for July.
Additionally, this St. George, UT-based company reported a 4.9% decrease in block hours for the first seven months of the year. Load factor (percentage of seats filled with passengers) improved 230 basis points (bps) to 84.3% in July. While the number of departures in the month fell 8.5% on a year-over-year basis, passenger count declined 4.7%.
Zacks Rank & Other Key Picks
SkyWest sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the broader Transportation sector include Trinity Industries, Inc. (TRN - Free Report) , CSX Corporation (CSX - Free Report) and Norfolk Southern Corporation (NSC - Free Report) , each flaunting a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Trinity, CSX and Norfolk Southern have rallied more than 31%, 42% and 43%, respectively, in a year.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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