Boston Omaha Q3 loss narrows on affiliate income, Sky Harbour share sale gains

Overview

• U.S. holding company's Q3 revenue rose 1% yr/yr, net loss narrowed

• Company expanded share repurchase program to $85 mln from $30 mln

• Q3 results impacted by investment losses and interest expense, partly offset by affiliate income and asset sales

Outlook

• Boston Omaha expands share repurchase program to $85 mln, expiring Dec 31, 2027

• Company says share repurchases may depend on market conditions, share price, and availability

• Company did not provide specific financial guidance for future revenue or earnings

Result Drivers

• INVESTMENT LOSSES - Co said Q3 results were impacted by $5 mln in losses from changes in fair value of assets in 24th Street and BFR funds and a $2.2 mln unrealized loss on Sky Harbour warrants

• AFFILIATE INCOME AND ASSET SALES - Q3 investment losses were partly offset by $2.6 mln in income from unconsolidated affiliates and a $1.4 mln realized gain from the sale of Sky Harbour shares

• INTEREST EXPENSE - Q3 results included $0.6 mln in interest expense

Company press release: ID:nBw205ZLFa

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)