Harbor Diversified, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 13, 2023
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Harbor Diversified, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 49.96 million compared to USD 68.39 million a year ago. Revenue was USD 50.06 million compared to USD 68.41 million a year ago. Net loss was USD 3.69 million compared to net income of USD 8.02 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to basic earnings per share from continuing operations of USD 0.17 a year ago. Diluted loss per share from continuing operations was USD 0.09 compared to diluted earnings per share from continuing operations of USD 0.13 a year ago.
For the nine months, sales was USD 159.97 million compared to USD 213.28 million a year ago. Revenue was USD 160.26 million compared to USD 213.32 million a year ago. Net loss was USD 11.98 million compared to net income of USD 32.37 million a year ago. Basic loss per share from continuing operations was USD 0.29 compared to basic earnings per share from continuing operations of USD 0.68 a year ago. Diluted loss per share from continuing operations was USD 0.29 compared to diluted earnings per share from continuing operations of USD 0.5 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. 
