Sky Harbour reports Q1 revenue growth, introduces 2026 guidance

Sky Harbour Group Corporation (NYSE: SKYH) reported Q1 2026 financial results showing consolidated revenues increased 56% compared to the same period last year and 8.3% sequentially from the prior quarter, according to a company press release.

The aviation infrastructure company said constructed assets and construction in progress reached over $350 million at quarter-end, representing a $75 million increase year-over-year. Net cash used in operating activities was approximately $3.9 million for the quarter, compared to $5.1 million used in Q1 2025.

Sky Harbour maintained strong liquidity with consolidated cash and US Treasuries totaling $187.6 million at quarter-end, plus access to $180.6 million from its committed JP Morgan construction facility.

The company introduced guidance for year-end 2026, expecting consolidated revenues of $42-46 million on an annualized run rate basis, up from $34.9 million in Q1 2026. It projects consolidated Adjusted EBITDA of $4-6 million on an annualized run rate basis by year-end, compared to negative $6.0 million in Q1 2026.

Sky Harbour operates over 1 million square feet of hangar space across multiple airports. The company reported economic occupancy of 103% at campuses open for more than six months. Miami-Opa Locka Executive Airport Phase 2 opened May 11 with 68% occupancy as of May 13.

Construction projects remain on schedule across multiple locations. Bradley International Airport in Connecticut is expected to complete by November 2026, while Salt Lake City International Airport is scheduled for Q1 2027 completion.

The company previously issued $150 million in subordinated bonds through the Public Finance Authority of Wisconsin in February to fund project completions and new portfolio developments.

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