Sky Harbour reports 2023 revenue up 311%, announces new leases at SJC and ORL, and discloses $26-28M remediation costs

Sky Harbour Group Corp

Revenue surged 311% YoY; cash & investments total ~$172M as of Dec 31, 2023.
Remediation costs of $26-28M for design flaws at Denver, Phoenix, Dallas; projects delayed 3-4 months.
New ground leases executed at San Jose (SJC) and Orlando (ORL); SJC 58% pre-leased, first three campuses 95% occupied.
Injected $27M equity into Obligated Group to cover remediation funding gap; filed S-3 for PIPE shares and new ATM program.
SG&A expenses increased only 2.8% YoY; net cash used in operations improved to $7.7M from $27.5M.

item 1.01 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Sky Harbour Group Corp reported financial results for the year ended December 31, 2023.

Period: the year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 27, 2024, the Company issued a press release (the “Press Release”) which announced its financial results for the year ended December 31, 2023.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sky Harbour Group Corp entered into SJC Lease with City of San Jose (effective 2024-03-23).

Action: entry
Agreement: lease
Counterparty: City of San Jose
Effective: 2024-03-23

Exact text from the filing

On March 23, 2024, Sky Harbour Group Corporation (the “Company”), through a wholly-owned subsidiary of the Company, entered into a ground lease agreement (the “SJC Lease”) at San Jose Mineta International Airport (“SJC”) with the City of San Jose.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sky Harbour Group Corp entered into ORL Lease with Greater Orlando Aviation Authority valued at $30 million (effective 2024-03-27).

Action: entry
Agreement: lease
Counterparty: Greater Orlando Aviation Authority
Value: $30 million
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, the Company, through a wholly-owned subsidiary of the Company, entered into a ground lease agreement (the “ORL Lease”) at Orlando Executive Airport (“ORL”) with the Greater Orlando Aviation Authority (“GOAA”).

View on SEC.gov

460 earnings releases filed in the last 30 days. Browse all earnings releases →

Sky Harbour Group Corp filing history →

Source: SEC EDGAR

accession 0001437749-24-009608

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.