Friday, August 14, 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. During the second quarter, the pace of investment and new construction at Sky Harbour continued to accelerate. Assets under construction and completed construction reached over $393 million, a $65 million increase year-to-date and the highest in six months in corporate history.
2Q26 Results. Sky Harbour 2Q26 revenue of $9.86 million rose nearly 50% y-o-y, driven by new campus openings in the past year and increases in occupancy and rental rates. Adjusted EBITDA improved to approximately negative $0.9 million in the second quarter of 2026 from a loss of $3.0 million in the second quarter of 2025. The Company reported a net loss of $1.2 million, or $0.04/sh, versus net income of $17.5 million, or $0.18/sh, in 2Q25, which was positively impacted by $21.8 million of unrealized gain on warrants.
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