Sky Harbour Q2 revenue up 109% YoY; raises ground lease guidance to 8 by Dec 2025

Sky Harbour Group Corp

2024-Q2 EPS reported -$0.54 revenue$6,022,000

Q2 consolidated revenues increased 109% YoY and 50% sequentially; net cash used in ops improved to $1.0M from $4.4M in Q1 2024.
Reaffirmed positive operating cash flow guidance by Fall 2025; Sky Harbour Capital segment achieved $1.1M positive cash flow from ops in Q2 vs -$0.3M last year.
Raised guidance to eight additional ground leases by Dec 2025 (from six); 14th campus at Salt Lake City announced; total rentable sq ft projected at 2.4M.
Weighted average revenue run rate $39/sq ft, 32% above original $29.50 projection; renewals show 20% step-up in revenue.
Evaluating $150M tax-exempt debt with indicative rates 4.55%-5.80%; expected to close H1 2025; strengthened management team with three new hires.

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