Sky Harbour Group Corporation ( (SKYH) ) has released its Q4 earnings. Here is a breakdown of the information Sky Harbour Group Corporation presented to its investors.
Sky Harbour Group Corporation is an aviation infrastructure company focused on developing a nationwide network of Home-Basing campuses for business aircraft, providing tailored services and infrastructure for private and corporate aviation needs.
Sky Harbour recently announced its record financial results for the fourth quarter and the year 2024, alongside strategic developments such as a new hangar campus lease at King County International Airport and the opening of a new campus in Phoenix. The company reiterated its guidance for 2025, emphasizing its growth trajectory and operational milestones.
Key financial highlights include a 95% increase in full-year consolidated revenues compared to 2023, with constructed assets or in-construction exceeding $250 million by year-end. The company reported strong liquidity with $127 million in cash and US Treasuries, despite a net cash usage of $9.1 million in operating activities. Sky Harbour Capital, a part of the company, also showed significant improvement with a 51% increase in revenues and positive net cash from operating activities.
Strategically, Sky Harbour completed the acquisition of CloudNine and Sky 805 at Camarillo Airport and executed a new lease at Boeing Field. The company is actively expanding its footprint with ongoing construction and development activities at various airports, including Denver and Dallas, and plans for additional hangar leases by the end of 2025.
Looking ahead, Sky Harbour remains committed to its growth strategy, focusing on expanding its network of campuses and enhancing its service offerings. The management’s outlook is optimistic, with expectations of achieving breakeven operating cash flow by the end of 2025, driven by new campus openings and increased leasing activities.