WEST HARRISON, N.Y--(BUSINESS WIRE)--Sky Harbour Group Corporation (NYSE: SKYH, SKYH WS) ("SHG†or the "Company†), an aviation infrastructure company building the first nationwide network of Home Base Operator (HBO) campuses for business aircraft, announced today that its indirect, wholly-owned subsidiary Sky Harbour Capital III LLC ("SKYH Capital III†) priced its Series 2026 Aviation Facilities Project bonds (the "Series 2026 Bonds†) at a yield of 6.0%. The Series 2026 Bonds were priced at par, carry ...

Core Viewpoint - Sky Harbour Group Corporation is advancing its position in the aviation infrastructure sector by establishing a nationwide network of Home Base Operator campuses for business aircraft [1] Group 1 - Sky Harbour Group Corporation announced that its subsidiary, Sky Harbour Capital III LLC, is filing a Preliminary Limited Offering Statement with the Municipal Securities Rulemaking Board [1]

Core Viewpoint - Sky Harbour Group Corporation has received authorization from the Port Authority of New York and New Jersey to expand its development site at New York Stewart International Airport, which will enhance its operational capacity and efficiency [1] Group 1: Company Expansion - The lease amendment will increase the development site from 16 acres to 26 acres [1] - This expansion is expected to add approximately 150,000 square feet of rentable hangar space [1] - The changes aim to create a more efficient site layout for operations [1]

Core Insights - Sky Harbour Group Corporation is expanding its network by developing Home Base Operator campuses at Dallas Love Field and Dallas Executive Airport, authorized by the Dallas City Council [1][2] - The new campuses will enhance the infrastructure for corporate and private business aircraft, creating hundreds of local jobs and providing significant economic benefits to the Dallas area [2][4] - With the addition of these two locations, Sky Harbour's network will grow to 23 airports across the United States, with nine currently operational and fourteen under development [3] Company Developments - The Dallas campuses will feature six 37,000-square-foot hangars designed for late-model business aircraft, along with tailored office and lounge suites [4] - The CEO of Sky Harbour emphasized the strategic clustering of campuses in major business aviation markets to provide tailored solutions and operational benefits [4] - The City of Dallas expressed optimism about the long-term economic impact of Sky Harbour's presence at its airports [4] Financial Updates - On December 9, the company secured a $15 million corporate loan with an 18-month term at an interest rate of 7.75%, intended for general corporate purposes [5] - Stratus Building Systems, a subsidiary, closed a $9.5 million commercial term loan to refinance existing debt, with a floating interest rate for the first year [6]

Core Viewpoint - Sky Harbour Group Corporation has announced the authorization of a ground lease agreement by the City of Fort Worth for the development of a Home Base Operator campus at Fort Worth Meacham International Airport, marking a significant step in building a nationwide network for business aircraft [1] Group 1 - The company is focused on creating the first nationwide network of Home Base Operator campuses for business aircraft [1] - The new Sky Harbour campus will serve as a home base for business aircraft operations [1]

Company Overview - Sky Harbour Group Corporation is an aviation infrastructure company focused on developing the first nationwide network of Home-Basing campuses for business aircraft [4] - The company aims to provide private and corporate residents with superior physical infrastructure in business aviation, along with dedicated services tailored to based aircraft [4] Event Announcement - Sky Harbour's Treasurer, Tim Herr, will present at NobleCon21, the Twenty First Annual Emerging Growth Equity Conference hosted by Noble Capital Markets [1] - The presentation is scheduled for December 3rd at 3:30 PM Eastern Standard Time at Florida Atlantic University [1] Investor Engagement - Interested investors and guests can attend the conference at a discounted rate using the code SKYHNOBLECON [2] - A high-definition video webcast of the presentation will be available the following day and archived for 90 days on Noble Capital Markets' Conference website and Channelchek [3]

Core Insights - Sky Harbour Group Corp. (NYSE: SKYH) demonstrated strong momentum in Q3 2025, transitioning from development to cash-generating operations [1] - The company is now conducting resident flight operations at nine campuses, with additional Tier 1 locations in development [1] - Constructed assets and construction in progress exceeded $308 million at the end of the quarter, indicating significant growth [1] Financial Performance - Revenue reached $7.3 million, reflecting a 78% year-over-year increase and an 11% sequential increase, driven by $5.7 million in rental income and $1.6 million from fuel as nine campuses ramped up operations [6] - At the end of Q3 2025, liquidity stood at approximately $48 million in cash, restricted cash, and Treasuries, with a new $200 million warehouse facility available for expansion to $300 million, which remained undrawn [6] Operational Developments - The company has fully operational sites at Sugar Land, Nashville, Miami Opa-Locka, San Jose, Camarillo, Phoenix Deer Valley, Dallas Addison, Seattle Boeing Field, and Denver Centennial [1] - Management has strengthened the capital structure by signing a joint venture letter of intent for an SH34 hangar at OPF Phase 2, providing flexible and lower-cost funding for future growth [1]

分组1 - Sky Harbour Group Corporation reported a quarterly loss of $0.06 per share, better than the Zacks Consensus Estimate of a loss of $0.10, representing an earnings surprise of +40.00% [1] - The company posted revenues of $7.3 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 15.42%, but showing an increase from $4.1 million year-over-year [2] - Sky Harbour Group has surpassed consensus EPS estimates in all four of the last quarters, but has only topped consensus revenue estimates once in the same period [2] 分组2 - The stock has underperformed the market, losing about 18.3% since the beginning of the year, while the S&P 500 gained 16.4% [3] - The current consensus EPS estimate for the coming quarter is -$0.08 on revenues of $11.47 million, and -$0.14 on revenues of $32.29 million for the current fiscal year [7] - The Zacks Industry Rank for Aerospace - Defense Equipment is currently in the bottom 30% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

Financial Data and Key Metrics Changes - Consolidated revenues increased by 78% year over year and 11% sequentially, reaching $7.3 million for the quarter, driven by the acquisition of the Camarillo campus and higher revenues from existing and new campuses [5][6] - Operating expenses dropped slightly due to the absence of one-time non-recurring startup expenses from new campuses experienced in Q2, with SG&A expected to remain stable and not exceed $20 million on a cash basis [6][7] - The company is less than $1 million away from break-even on a cash reform operation basis and expects to achieve this goal next month [6] Business Line Data and Key Metrics Changes - Revenues from the wholly-owned subsidiary, Sky Harbour Capital, increased by 25% year over year and 8% sequentially, with expectations for continued growth in Q4 and the first quarter of next year as new campuses are leased [7] - The company has 19 airports in operation or development, with guidance to reach 23 by the end of the year [11] Market Data and Key Metrics Changes - The company is focusing on tier-one airports for site acquisition, indicating a strategic shift towards high-potential markets [36] - The leasing strategy emphasizes achieving 100% occupancy quickly through short-term leases, followed by establishing market rents [31][36] Company Strategy and Development Direction - The company is transitioning to a pre-leasing model for all future airports, starting with Bradley, Connecticut, to secure leases well in advance of construction [39][65] - A comprehensive quality assurance program has been instituted to enhance construction quality across campuses [29] - The company aims to maximize revenue capture at tier-one airports and expand existing operations rather than establishing new ground leases [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving investment-grade ratings by next summer, contingent on completing leasing of new campuses and demonstrating cash flow generation [69] - The company anticipates significant revenue growth as it scales operations, with a notable increase in the number of campuses under construction from three in 2025 to ten in 2026 [48] Other Important Information - A $200 million tax-exempt drawdown facility was finalized with J.P. Morgan to fund upcoming projects, with an expected drawdown over the next two years [22][25] - The company is exploring additional private activity bonds and has not issued equity due to low share prices [25][26] Q&A Session Summary Question: How will Sky Harbour manage the potential risk of locking in lease economics before full construction costs are determined? - Management noted that risks are mitigated through guaranteed maximum price contracts and a systematic approach to site acquisition, aiming for occupancy rates above 50% but not necessarily 100% [44][46] Question: Are any properties in operation over 100% occupancy? - Management confirmed that properties like San Jose are significantly above 100% occupancy, particularly those with a higher ratio of semi-private hangars [47] Question: What highlights early signs of scale in the business? - Management indicated that the increase in the number of campuses under construction and the expected revenue growth from these developments are clear indicators of scale [48][49] Question: What are the details on the potential tax-exempt bond? - Management stated that the bond could come to market as early as next month, with expected rates around 6%, subject to market conditions [50][51] Question: Is the valuation of the hangar indicative of value across the portfolio? - Management clarified that while the valuation is not necessarily indicative of the entire portfolio, it reflects the high demand for aviation hangar space in a static supply environment [57][58] Question: What are the thoughts on more hangars similar to the 75% in Miami? - Management indicated that while this financing model is repeatable, it is not the new business model, focusing instead on cost of capital and not relying solely on equity issuance [61][62] Question: Is there an opportunity to do pre-leasing at more airports? - Management confirmed that pre-leasing is the strategy going forward, starting with Bradley, Connecticut [65] Question: Can you provide a status update on investment-grade ratings? - Management aims to achieve investment-grade ratings by next summer, focusing on demonstrating cash flow generation from new campuses [68][69]

Financial Performance & Construction - Sky Harbour's construction is accelerating, leading to increasing revenues[23] - Sky Harbour Capital LLC raised capital through a municipal bond offering[8] - As of Q3 2025, Sky Harbour has approximately $247.9 million in US Treasuries and cash, including $36.473 million in cash and $11.447 million in treasuries, along with a $200 million warehouse facility[69] - A $200 million JP Morgan draw down facility is funding construction of BDL, SLC, POU1, ORL1, and TTN, swapped to a fixed interest rate of 4.73%[65, 66] Site Acquisition & Development - Sky Harbour reaffirms guidance of 4 new airport announcements by year-end 2025, targeting a total of 23 airports[51] - Sky Harbour is expanding into the Tier 1 LA market with the Long Beach Airport (LGB) project, featuring a 196k SF campus across 2 phases, with potential stabilized revenue of $10 million[54, 56] - Sky Harbour has 19 airport ground leases and is pursuing same-field expansion opportunities, targeting Tier-1 Airports[76] - The company has commenced construction on new sites and is preparing for a surge in development in 2026 and 2027[76, 82] Leasing & Operations - Stabilized campuses are showing revenue growth post-stabilization[76] - Sky Harbour has adopted a preleasing strategy, starting with BDL, to enhance long-term revenue[76, 82] - The company is focused on bringing new campuses to 100% occupancy and establishing market rents[82]