Sky Harbour Group Corporation (SKYH)
NYSE:SKYH
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Earnings Data
Report Date
Aug 18, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.15Last Year’s EPS
0.18Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple clear operational and financial positives: robust year-over-year revenue growth (56% consolidated, 76% for the Obligated Group), materially expanded construction and development pipeline, strong liquidity with significant undrawn bank capacity, successful pre-leasing and pricing power (23% average re-lease step-up), and on-time/on-budget execution of the Ascend construction program. Management provided initial 2026 guidance showing a move to positive adjusted EBITDA annualized run-rate and highlighted a pathway to much larger cash flow in 2027–2028 driven by Phase 2 openings and a one-million+ sq ft development backlog. Headwinds and execution risks are present — rising OpEx tied to new openings (much of it noncash accruals), Q1 seasonality and prior-quarter timing items that distort comparisons, uneven lease-up at select campuses (e.g., Denver at 44%), near-term negative annualized EBITDA in Q1, and dependence on timely project deliveries. Overall, the positives — growth, liquidity, pricing power and construction execution — outweigh the manageable near-term operating and timing challenges.Company Guidance
Strong Consolidated Revenue Growth
Consolidated revenues increased 56% year-over-year and 8% sequentially, driven by new campus openings, higher occupancy and increased rental rates.
Obligated Group Outperformance
Sky Harbour Capital (Obligated Group) revenues rose 76% year-over-year and 15% sequentially. Cash flow from operations at the Obligated Group reached $2.9 million, nearly triple the $1.0 million a year ago and up ~14% sequentially after adjusting for a prior quarter nonrecurring $5.9 million prepaid rent.
Assets Under Construction Expanded
Total assets under construction and completed construction exceeded $352 million at quarter end, a $75 million increase versus the prior year, with an accelerating pace of investment and new construction.
Material Liquidity and Capital Flexibility
Available liquidity of $368 million (including $187 million in cash and U.S. Treasuries), a $200 million bank facility with only $19 million drawn (≈$181 million undrawn capacity) and recent ~$150 million bond/tax transactions provide runway to double the business without additional capital.
Formal 2026 Guidance Introduced
Introduced annualized 2026 run-rate guidance of $42M–$46M revenue (up from the current quarter’s $35M annualized run rate) and adjusted EBITDA annualized run-rate guidance of $4M–$6M (vs. an annualized -$6M in Q1). Guidance excludes late-year campus openings (Bradley and Addison Phase 2).
High Re-lease Escalation and Occupancy Dynamics
In the last 12 months ~119,000 sq ft of hangar space was re-leased with an average step-up of 23% (up from 22% last quarter). Economic occupancy on most stabilized campuses is 100%+ (San Jose example ~132%), demonstrating pricing power and tenant demand.
Pre-leasing Success and Operational Scaling
Miami Opa Locka Phase 2 opened 68% leased due to a pre-leasing strategy. Management expects operating leverage from Phase 2 expansions (Miami and Addison) as same personnel and fuel trucks can serve doubled campus size, driving gross profit margin expansion.
Ascend Integrated Construction Program and Lowering Unit Costs
Ascend program delivered on-time and on-budget on Miami Phase 2 using in-house prototyping/manufacturing and Stratus steel. Current GMPs for upcoming projects average $244.37 per sq ft (improved from prior reported $253), and the company expects further reductions to expand addressable markets.
Development Pipeline and Tier-1 Focus
More than 1 million sq ft expected in development by year-end. 48% of rentable sq ft in the fully funded construction pipeline is in Tier 1 markets (Sky Harbour defines Tier 1 as ≥$50/sq ft revenue), positioning future high-yield growth.
SKYH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SKYH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 14, 2026 | $9.46 | $8.67 | -8.35% |
Mar 19, 2026 | $9.47 | $9.45 | -0.21% |
Nov 12, 2025 | $9.85 | $9.72 | -1.32% |
Aug 12, 2025 | $10.95 | $10.55 | -3.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Sky Harbour Group Corporation (SKYH) report earnings?
Sky Harbour Group Corporation (SKYH) is schdueled to report earning on Aug 18, 2026, Before Open (Confirmed).
What is Sky Harbour Group Corporation (SKYH) earnings time?
Sky Harbour Group Corporation (SKYH) earnings time is at Aug 18, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What is SKYH EPS forecast?
SKYH EPS forecast for the fiscal quarter 2026 (Q2) is -0.15.