Monday, May 18, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Overview. The pace of investment and new construction at Sky Harbour is accelerating, with assets under construction and completed construction reaching over $352 million at quarter’s end, a $75 million increase from a year ago. The construction is driving new campus openings, which, when combined with increases in occupancy and rental rates, is driving operating performance, which will accelerate in the near-term, in our view.
1Q26 Results. Revenue of $8.7 million was up from $5.6 million in the year-ago quarter and modestly above our $8.5 million estimate. Adjusted EBITDA was a negative $1.5 million, down from a negative $3.3 million last year but short of our positive $0.2 million projection. Sky Harbour reported a net loss per share of $0.16 versus a net loss of $0.19/sh last year and our $0.22 net loss estimate.
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