Boston Omaha Q3 loss narrows on affiliate income, Sky Harbour share sale gains
BOC•BOC•BOC•BOC•Boston Omaha’s third-quarter revenue rose 1% year over year and its loss per share was $0.01. The company expanded its share repurchase program to $85 million from $30 million.
Boston Omaha said its third-quarter results included $5 million in losses from changes in the fair value of assets in the 24th Street and BFR funds, a $2.2 million unrealized loss on Sky Harbour warrants and $0.6 million in interest expense. These were partly offset by $2.6 million in income from unconsolidated affiliates and a $1.4 million realized gain from the sale of Sky Harbour shares.
The company expanded its share repurchase program to $85 million from $30 million. The program expires December 31, 2027, and repurchases may depend on market conditions, share price and availability. Boston Omaha did not provide specific future revenue or earnings guidance.
