SkyWest Inc. on Wednesday reported a small first-quarter profit that disappointed the Utah-based regional airline but still exceeded the expectations of securities analysts.
SkyWest earned $3.2 million, or 6 cents per diluted share, in the three months ending Dec. 31. A year ago, it lost $700,000, or 1 cent per share. Analysts were looking for 2 cents per share this quarter.
"We had planned to achieve improved financial results for the quarter just ended over the same period last year. However, our results were negatively impacted primarily by weather and other operational challenges," CEO Jerry Atkin said in a statement.