Harbor Diversified, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 20, 2022
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Harbor Diversified, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 68.39 million compared to USD 71.87 million a year ago. Revenue was USD 68.41 million compared to USD 71.89 million a year ago. Net income was USD 8.02 million compared to USD 36.28 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to USD 0.67 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.51 a year ago.
For the nine months, sales was USD 213.28 million compared to USD 174.47 million a year ago. Revenue was USD 213.32 million compared to USD 174.52 million a year ago. Net income was USD 32.37 million compared to USD 82.03 million a year ago. Basic earnings per share from continuing operations was USD 0.68 compared to USD 1.49 a year ago. Diluted earnings per share from continuing operations was USD 0.5 compared to USD 1.14 a year ago.
Harbor Diversified, Inc. is a non-operating holding company. The Company operates through subsidiaries, including AWAC Aviation, Inc. (AWAC), which is the sole member of Air Wisconsin Airlines LLC (Air Wisconsin), a regional air carrier. The Company is also the direct parent of three other subsidiaries: Lotus Aviation Leasing, LLC (Lotus), which leases flight equipment to Air Wisconsin; Air Wisconsin Funding LLC (AWF), which provides flight equipment financing to Air Wisconsin, and Harbor Therapeutics, Inc. (Therapeutics), which is a non-operating entity with no material assets. Air Wisconsin owns over 64 CRJ-200 regional jets. The CRJ-200 regional jet offers many of the capabilities and amenities of larger commercial jet aircraft, including flight attendant service, a stand-up cabin, limited overhead and under seat storage, a lavatory and a galley that allows for in-flight snack and beverage service. The CRJ-200 regional jets have a speed range of approximately 1,585 miles.
HARBOR DIVERSIFIED, INC. 
